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The Ontario Student Assistance Program (OSAP) is a program designed to help eligible Ontario students cover the cost of post-secondary education.  Funded by the Federal and Ontario governments, OSAP is intended to promote equality of opportunity for post-secondary studies through direct financial assistance for educational costs and living expenses.  These loans are intended to supplement the financial resources provided by you and your parents/spouse.

About 50 percent of full-time Algonquin College students presently receive financial assistance through OSAP.  The amount of assistance you receive depends on your calculated financial need. The Ontario Ministry of Training, Colleges and Universities determines the amount with the following formula:

    Allowable Education Expenses
-  Expected Financial Contribution 
=  Calculated Financial Need

Allowable educational expenses include such things as tuition fees, books, supplies and computer equipment, living expenses, local transportation expenses, and transportation expenses for returning home.  A calculation of the expected financial contribution depends on the resources of your parents or spouse, summer earnings, earnings during the school year, academic awards, income from government agencies and investment income.

Students applying for OSAP should be aware that the Ministry could consider your personal vehicle to be an asset if it is valued over $5000. The information is verified with the Ministry of Transportation.

To determine whether you are eligible for OSAP and to ensure that you have the proper funding for the start of your studies (i.e. September), you should submit your OSAP application by mid-June.  Please visit http://osap.gov.on.ca for a free copy of an on-line OSAP application. If you wish, you can also print the paper OSAP application off the OSAP web-site and submit it along with a $10. processing fee.