Students don’t have an easy time of it financially, and whenever there is a potential break for them we like to encourage it or at least bring it to their attention so they can consider it.
Tuition is expensive and while there are some tax incentives to help with this, it is still not enough to give them a real break. The opportunity to have their tuition reduced by 30% is a big one though and one that may be possible.
This is money that doesn’t have to be repaid and is considered to be a 30% tuition grant. It is applicable to those entering a Ontario Public college or university and even a private post secondary school for students going from high school into this program.
It amounts to $1,780. for university and college degrees, and $820. for diploma and certificate students. It has to be applied for, and you have to meet the criteria.
The criteria for approval is…
You are enrolled as a full time student and have been approved for OSAP in a public college, university or private post secondary school in Ontario.
You have been out of high school for less than 5 years, or more than 4 but less than 5 and you are in the 4th or 5th year of a eligible co-op program. For those with disabilities you have to be out of high school for less that 6 years.
The program you are in can be applied for directly from school. Such as an undergraduate level, for example.
You are able to meet the citizenship and residency requirements.
The gross income of your parents is less than $160,000.
There is a short quiz that you can take to see if you are eligible.
There are application deadlines so it is important that you get started on your application for this 30% tuition grant as quickly as possible, as it is still applicable for this year.
If you are in a co-op program only the study terms are eligible for the grant.
The title of this grant can be a little misleading, as some students assume that it is actually going to cover 30% of whatever their specific tuition costs are. Tuitions vary and the government have based this grant on the average undergraduate arts and science university and college tuition.
While this is one piece of good news it is really important for students to research all of the avenues for financial help that may be open to then. Some educational institutions are better than others for providing students with this type of information. In addition to grants, bursaries and loans as a student be sure that you are taking advantage of all of your potential tax breaks.
