Ontario Student Assistance Program

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The Ontario Student Assistance Program (OSAP) is a program by the government of Ontario, Canada, that offers financial aid to students concerning post-secondary education, in the form of loans and advice. The loans are interest-free as long as the student remains a full time student - the interest is paid by the government. Graduated students can also apply for the interest relief program if their income is too low to pay off the loan. Interest paid on the Ontario loan(s) is prime rate + 1%, provided the payments are made on time.

To be eligible, the student must be either a Canadian citizen or permanent resident and have resided in the province of Ontario for at least 12 consecutive months.

There is an ongoing debate in Canada in regards to how student loans adversely affect young people's financial situation upon graduation and reforming student loans.

[edit] See also

• Canada Student Loan
• List of Ontario Universities
• List of Ontario Colleges

[edit] External link

• Ontario Student Assistance Program