Loans and Government Sponsored Programs
OSAP - Ontario Student Assistance Program Canadian citizens and permanent residents may apply for government-sponsored financial assistance to help with tuition fees, books and living expenses during the academic year. The program for Ontario residents is known as the Ontario Student Assistance Program OSAP.
The basic premise of OSAP is that the responsibility for funding a student's education rests primarily with the student and his/her family. Inherent in this premise is the expectation that the family plan and make adequate preparations to meet the student's upcoming financial needs.
OSAP consists of four plans. Each of these plans provides assistance to supplement but not replace your own financial contribution towards the cost of your education.
- Canada Student Loans Plan: federal loans for post-secondary study at approved institutions anywhere in the world.
- Ontario Student Loans Plan: provincial loans to post-secondary students enrolled at approved institutions in Canada.
- Ontario Special Bursary Plan: non-repayable money to cover tuition fees, books and other educational expenses for part-time studies or upgrading programs at approved post-secondary institutions in Ontario.
- Ontario Work Study Plan: to help financially needy students meet their educational costs by working part-time during the school year.
Ontario residents should apply online at http://osap.gov.on.ca. The application will then be downloaded to the institution you plan to attend.
Out-of-province residents may make application for financial assistance to the appropriate government department of their home province. The address can be obtained from the financial aid office at the university or college in their home area or from the Financial Assistance Office, Loyalist College, telephone: (613) 969-1913, ext. 2226 or ext. 2425.
Loans from OSAP are not available before the start of classes, so students are expected to pay deferral fees from their own resources.
For OSAP purposes, a student must maintain a minimum satisfactory scholastic standard (2.0 average per semester). If you fail one semester you will be placed on academic probation. A second failed semester could result in the denial of further OSAP funding.
Employment Options
The Loyalist College Work Study program provides part-time employment for full-time students at Loyalist College who qualify under the financial need guidelines. Over 200 on-campus jobs are created each year. Students not only earn needed income, they gain valuable job experience. These positions pay at least the minimum wage and are available in the Student Centre, Library, Admissions Office, the Computer Centre, CAL Central, the Residence, Student Services, as Peer Tutors, and in other departments.
The Career and Alumni Services Office posts part-time and summer jobs online, as well as full-time positions for after graduation. A password to access these listings is available in the Student Services office, room 2H3, and is accessible online at Employment & Career Services.
Many Loyalist students hold part-time jobs and work around their academic schedule.
The long summer break in most programs (typically four months) allows most students time to earn a significant amount toward their college expenses.
A two-year college program removes a student from the full-time workforce for only 16 months.
