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If you're an Ontario resident looking for financial assistance for the year ahead, you
will want to know what OSAP is, how you can get OSAP, and how you can use OSAP to pay
your tuition.
Since your education is a benefit to the country as well as to you, the provincial and federal
governments help pay for your education. If you cannot cover all your expenses, OSAP offer
grants (which you don't have to pay back) and loans (which eventually have to be repaid
but are interest-free while you are a full-time student).
OSAP has a set amount for your educational expenses for the year from which they subtract
the money they can expect you and your family to contribute towards your education. If there's
a gap, OSAP fills it.
If you are single with no dependents and studying full-time, you can get a maximum of $360.00
per week. Over 34 weeks of school, that adds up to $12,240. If you are married, or common-law,
or a sole-support parent, you are eligible for $560.00 per week.
In some cases, you may be eligible for additional money .
There's also the Ontario Tuition Rebate. Whether or not you apply for OSAP, you may qualify
for a grant of $1730.00. Just take the "30% Off Ontario Tuition" quiz on the OSAP site
to find out if you qualify.
Applying for OSAP is straightforward. Simply go to osap.gov.on.ca, register for an OSAP
Access Number and a password, and fill out the application. But ignore the button inviting
you to redirect your tuition to your academic institution. U of T does not use this button.
When you're done and hit "submit", you will immediately be directed to print or save five
documents.
Print, sign and date your personal declaration form and your signature page. Then print the
declaration and the signature page for your parents or guardians or spouse and have them
sign and date them. You need to get these four documents to Enrolment Services at U
of T. You can either mail them [graphic of address] or drop them off in the locked box
at the front porch of Enrolment Services, just across from the St. George Subway Station).
The fifth document you need to print, read, fill out and sign is your Master Student Financial
Assistance Agreement or MSFAA. You only have to do this once in your career as a student.
Bring the first page of the MSFAA along with your SIN card and a government-issued photo
ID to a designated Canada Post outlet. It's a good idea to also bring a void cheque or
a direct deposit form.
It takes up to eight weeks for OSAP to calculate your funding and make the information available
online.
Now, before 20 August, you must pay or officially defer at least the first installment of your
tuition fees. If you've followed all the OSAP steps early enough and are eligible, the University
of Toronto will have a record of it and you can defer your fee payment directly on ROSI.
Go to the "Financial Accounts" section and click the "OSAP/Govt Deferral" button before
20 August.
Of course, you will pay your tuition fees once the first installment of your OSAP funds
appear in your bank account. You have a personalized fees invoice on ROSI. Your U of T account
number is displayed in the upper right-hand corner. Direct your payment to "University
of Toronto."
One more thing, in October, be sure to complete the OSAP Income Verification Page online,
or else the second installment of your OSAP will not be deposited in your account.
And finally, if you're at all unclear about the OSAP process, use the "check status" button
on the OSAP site. And if you're unclear about paying your fees, don't hesitate to contact
your Registrar's Office.
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