OSAP (Ontario Student Assistance Program)
Ontario’s mix of grants and loans for post-secondary students, with provincial equivalents in every province.
OSAP combines Ontario grants and the federal Canada Student Loans Program into one application. Aid is needs-tested using family income, expected contributions, and program costs. Federal loans accrue no interest as of April 1, 2023, a permanent change; Ontario stopped charging interest on the provincial portion in 2022. Other provinces run their own programs: Alberta Student Aid, StudentAidBC, Aide financiere aux etudes in Quebec, and so on. Repayment kicks in six months after you leave school. Pair OSAP debt with an RESP top-up plan so the child does not end up servicing loans for a decade.
A 60-second lesson that puts this term in context, alongside the others, lives inside the Finlo app.