You Don't Have To Pay Your OSAP Loans Until The End Of The Summer
Doug Ford announced the changes today.
Since Ontario has declared a state of emergency, many businesses are shutting down and staff is being laid off. With many residents worrying financially about their future, the Ontario government announced on Tuesday that they would be suspending OSAP payments temporarily. All payments will be suspended until September 30, 2020, and no interest will be charged during this time.
Ford wrote on Twitter that the decision was made in an effort to relieve the "piling financial stress" Ontarians are facing during this pandemic.
Now, borrowers do not need to make payments on their loans until the end of the summer.
"During this unprecedented period, it is important to help students and current borrowers, so students can continue with their studies, and borrowers do not have to worry about making loan payments," Ford wrote in a press release.
"Our government is doing everything it can to ensure our college and university students can take their exams and complete their school year while studying remotely."
Ford's government declaredon March 17, 2020, effectively shutting all facilities providing indoor recreation programs, including schools.
Many universities switched to online learning anduntil next semester.
However, essentials businesses like grocery stores and pharmacies remain open.
The provincial government reported that it had come to an agreement with eCampusOntario that will allow postsecondary students to continue their education during the lockdown.
A new digital learning support system, which will be available in both French and English, will enable several colleges and universities to conduct their final assignments.
"Students and their families make great sacrifices to attend postsecondary education, and it is incumbent on us to do everything we can to ensure this academic year is not put in jeopardy," said Minister Of Colleges and Universities Ross Romano.
"I want to thank our postsecondary institutions for their leadership in adopting alternative ways for students to study and take exams while ensuring they practice physical distancing and stay safe," he added.
Ontario announced an additionalof COVID-19 on Monday, marking a new all-time high.
The province now has 1,966 reported cases, which include 534 resolved and 33 deceased, according to the government website. New measures are being taken daily to flatten the curve.