Students applaud OSAP changes
Posted on 07. Apr, 2010 by lwilks in News
TESSIE SANCI
NEWS REPORTER
Humber financial aid manager Holsee Sahid said she is pleased with many of the Ontario government’s changes to the Ontario Student Assistance Program, including a promise of less red tape for students who receive bursaries.
“It’s a win-win situation both for the students and us as well,” she said.
The changes will affect how students apply for student access guarantee bursaries, which are awarded by post-secondary insitiutions to those whose needs go beyond OSAP.
Sahid said the bursary’s application process will become simpler this August, although the eligibility criteria will remain the same.
Currently, students looking to qualify for the award are required to calculate a budget and write a letter explaining their need.
John Milloy, minister of training, colleges and universities, said with the revisions, schools will have to “automatically deliver the funds to students” without requiring them to complete those two tasks.
Sahid said it is up to the ministry to identify and inform the college of who is entitled to the bursary and the college is required to give the additional funding.
Changes are also on the way for loan repayment.
Under the old system, graduates did not have to pay back loans for six months, but interest still accumulated.
But for students graduating as early as September, the Ontario portion of OSAP loans will be interest-free for the first six months.
“Let’s face it, this is not the easiest economy so it gives people a cushion while they look for their job,” said Milloy.
First-year first-year heating, refrigeration and air conditioning student Nav Sandhu said he’s on board with the government’s plan.
“If I get a job and work full-time for six months, I’m sure I can save up,” he said.
The announcement also included an extension of the province’s current tuition framework, which is a school’s ability to raise fees as permitted by the government.
Milloy said schools will continue to be allowed to raise tuition up to five per cent annually for another two years.
That’s not all bad news, though – Milloy said with any tuition increase, schools are expected to contribute more to student financial aid.
“We’re also going to be working with the institutions themselves and ask that they will now be required to contribute a portion of additional tuition revenue, 10 per cent, to on-campus bursaries and student assistance programs,” he said.
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