Post-secondary education in Canada is known for its affordability compared to global standards, yet it still comes with associated expenses.
For students pursuing esthetician and hairstyling diplomas in Ontario, beauty schools like Modern College can help you procure a variety of financial aid options to manage tuition costs, all the while being supported by dedicated teams to guide you through the application process..
The cornerstone of financial aid in Ontario is the Ontario Student Assistance Program (OSAP). In this post, we’ll provide an overview of OSAP—detailing who qualifies, what benefits it offers, and how you can apply for this financial aid with the help of Modern College.
What is the Ontario Student Assistance Program (OSAP)?
The Ontario Student Assistance Program (OSAP) serves as the main financial support for postsecondary education in Ontario at qualified educational institutions, offering a blend of grants and loans to assist students in funding their academic journey.
When you apply for OSAP, you’re automatically assessed for both grants and loans. If you prefer not to take on repayable loans, adjustments can be made.
Expenses Covered by the Ontario Student Assistance Program (OSAP)
OSAP provides financial assistance to cover various expenses related to your education while you pursue your studies. This might include:
- Books
- Tuition fees
- Equipment and supplies necessary for your academic program
- Living expenses (applicable for full-time students)
- Child care costs (available for both full-time and part-time students who are parents)
Eligibility Requirements for the Ontario Student Assistance Program (OSAP)
To qualify for OSAP funding, you must meet one of the following criteria:
- Canadian citizen
- Permanent resident of Canada
- Protected person with valid Verification of Status document (or Protected Persons Document if issued before January 1, 2013)
How much funding does Ontario Student Assistance Program (OSAP) provide?
Funding varies according to every individual application to the OSAP program, depending on your specific situation and needs.When you work with our team of financial advisors we can help you increase your funding through this program.
Repayment of Ontario Student Assistance Program (OSAP)
Repayment typically starts six months after you finish your studies. However, if your school confirms your ongoing enrollment, this repayment period may be deferred until the end of the subsequent study period.
Applying for Ontario Student Assistance Program (OSAP)
At institutions like CTS Canadian Career College, a dedicated financial aid office assists all enrolled students in maximizing their funding opportunities through OSAP. Alternatively, applications can be submitted conveniently online via the OSAP portal.
Final Thoughts on OSAP
Whether you’re transitioning from high school to post-secondary education or pursuing further studies for a career change, OSAP provides valuable resources. Before making decisions, explore your options and consider reaching out to your prospective school’s financial aid department for guidance on navigating the application process and any related queries you may have.
Are you looking to pursue your post-secondary education at a beauty school in Ontario?
At Modern College, we have a dedicated financial aid team that can help you get the most out of the available scholarships, loans, grants, and other financial aid options available at our campuses in North Bay, Sudbury, and Barrie.
Simply reach out to us using the form on the right side of the page or send us an email at [email protected] and we will get in touch with you as quickly as possible!