Planning Your Finances

Your future is within reach! College can be a wonderful investment that pays large dividends in your working and personal life. However, it requires a significant investment. There are many programs in place to assist you with expenses related to a college education.

Tuition and fees

Fees are established by the Ministry of Advanced Education and Skills Development and are subject to change. Programs that are less than or greater than two semesters will have the fees adjusted. In Ontario, the tuition for a college education is about half as expensive as university tuition.

View current tuition and fees

Flexible payment options

  1. Pay it all and save! Make a full payment when fees are due in July, and avoid the $50 administrative fee for deferred payment.
  2. Pay by semester. Fees due in two installments, in July and December. A $50 non-refundable administrative fee will apply.
  3. Pay in six installments based on your account balance. You can arrange payment by pre-authorized debits to your bank account, withdrawn monthly from October through March, plus an initial payment of $150 by the due date.
  4. Student loan option. Students receiving government student loans (e.g. OSAP) may have their tuition fees deducted in two installments from their fall and winter loan payments. Students must make the initial payment of $150 by the due date.

What other costs will there be?

  • Textbooks, instruments and supplies vary in cost from $500 to $2,500 per year in most programs. Most of these items are available through the Loyalist Bookstore.
  • Residence or off-campus housing: approximately $300 – $650 per month.
  • Be sure to budget for other monthly expenses including food, transportation, entertainment and spending money.

Plan ahead to save

  • A health insurance plan at Loyalist pays 80% of most prescription drug costs for full-time on-campus students; visit the Health Centre for details.
  • Used textbooks are available in the Loyalist College Bookstore – as much as 50% off the regular price.
  • Some books are also available on a rental basis.

Financial assistance

There is a range of financial assistance options to help ensure you have the funds you need to succeed at Loyalist.

OSAP (Ontario Student Assistance Program)

Each year, over 200,000 post-secondary students receive more than $1.6 billion in financial assistance from the Ontario Government through OSAP. You can apply online at ontario.ca/osap. A limited number of applications are also available at colleges and universities. The ministry begins processing applications at the beginning of June; the process takes about six weeks. Depending on when you apply, you should know the amount of OSAP you are getting by mid-July. If you have any questions, please call Laura Russell in the Loyalist College Financial Assistance Office (after June 1) at 613-969-1913 ext. 2425.

Student bank loans

Student loans are available through most chartered banks. Personal loans usually require a co-signer. Apply as soon as you receive your offer of admission.

Scholarships, bursaries and academic awards

Loyalist College recognizes academic excellence with a number of academic awards presented at the Fall Awards Ceremony each November and at Convocation in June. Students can also apply for scholarships based on academic achievement. These are awards, not loans, and do not need to be repaid.

Bursaries are non-repayable awards based on financial need. Applications are available on the myLoyalist portal.

For a list of scholarships, bursaries and awards available at Loyalist College, please download the Awards Directory.

Download the 2017-18 Awards Directory