You're Going To Get A Lot More OSAP Money This Fall
The government is increasing student loan amounts this year.
Worried about your school finances? Don't fret - on August 1 of this year, the Government of Canada increased the amounts of select Canada Student Grants.
Currently, the grant increases are as following:
- For low-income families, grants will be increased from $2000 to $3000 per year for full-time students.
- For low-income families, grants will be increased from $1200 to $1800 per year for part-time students.
- For middle-income families, grants will be increased from $800 to $1200 per year for full-time students.
Some grants could potentially see increases of up to 50% down the road. You may have been eligible for one of these grants for this current fall semester. You can apply for one through OSAP (the Ontario Student Assistance Program).
Additionally, students who have taken out loans from the government will not need to pay those loans off until they start earning at least $25,000 per year. This will take into effect starting today (November 1).
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