Student Financial Aid in Ontario: Loans, Grants and How to Apply

OSAP combines federal and provincial aid

The Ontario Student Assistance Program (OSAP) is a single application that assesses you for both federal aid, the Canada Student Grant and Canada Student Loan, and Ontario's own provincial grant and loan. You submit one OSAP application , and the system considers you for both grant and loan funding based on your program's cost, your course load, and your financial situation, including your family's income, family size and dependants where relevant. You keep the right to decline the loan portion of your assessment while still accepting the grant portion.

Who qualifies

OSAP is for Ontario residents who are Canadian citizens, permanent residents or protected persons, enrolled in an approved full-time or part-time program at a participating Ontario college, university or other approved institution. Your assessed need depends on whether you count as a dependent or independent student. Dependent students report parental income alongside their own. Independent students, generally those out of high school for a set number of years, married, or supporting their own dependants, get assessed on their own household income instead.

How much OSAP pays for 2025-26

For the 2025-26 academic year, the maximum combined weekly OSAP aid, grants and loans together, runs up to $525 a week for a single student with no dependants and up to $865 a week for a married or common-law student, or a sole-support parent, at a public Ontario college or university. Your own assessed amount depends on your program's cost and your financial circumstances, so treat these as ceilings rather than typical amounts.

On the federal side, the Canada Student Grant for full-time students pays up to ,200 a year for the 2026-27 school year, or 5 for each month of study, based on your income. The federal government has committed to this maximum through the end of the 2026-27 school year. OSAP also caps how many weeks of funding you draw over your studies: 340 weeks for most undergraduate programs, 400 weeks for doctoral students, and 520 weeks for students with a documented disability.

A funding change for Fall 2026 programs

Effective for programs starting August 1, 2026, Ontario shifts a larger share of provincial OSAP funding toward loans and away from grants for students at public colleges and universities and at private Ontario institutions. Students at career colleges receive their entire provincial OSAP allocation as loans under this change. The federal grant and loan amounts described above are not affected. Confirm your own grant-to-loan split on your OSAP assessment once you apply, since it depends on your program's exact start date.

How to apply

Apply through your OSAP account for the specific academic year you are studying, after your Fall enrolment is confirmed with your school, since the assessment needs your program and school details to calculate your costs. Submit supporting documents when asked, including income information for yourself and, if you count as a dependent student, your parents. Reapply every year: OSAP does not carry your assessment forward automatically, and your award changes year to year with your income, program cost and family situation, though a term abroad changes which parts of OSAP still apply.

If your income drops, a parent loses a job, or another unexpected change hits your family's finances after you already submitted your application, request a review through your OSAP account. OSAP reassesses your file using updated income information instead of the figures on your original tax return, which often raises your grant and loan eligibility mid-year.

Other funding on top of OSAP

Entrance scholarships, institutional bursaries and external awards stack alongside OSAP, though a large external award reduces your assessed OSAP need once it passes your institution's disclosed threshold. Report every scholarship and bursary you receive on your OSAP application, and update your account if you get funding after you already submitted it, since undisclosed awards trigger a reassessment later in the year.

Repayment once you finish

You get a 6-month non-repayment period after you leave full-time study before payments start. The federal portion of your loan carries 0% interest permanently, a change the federal government made effective April 1, 2023. The Ontario portion charges interest at the prime rate plus 1% , which accrues during your 6-month grace period and gets added to your balance before regular payments begin. Standard repayment runs over 9.5 years. Extend it to 14.5 years to lower your monthly payment. The National Student Loans Service Centre (NSLSC) manages your account once you enter repayment.

Help if you cannot make payments

The Repayment Assistance Plan (RAP) reduces or pauses your payment if your monthly gross family income falls under set thresholds. For 2025-26, those thresholds are $2,083 a month for a single person, $3,254 for a family of two, $4,205 for a family of three, $4,959 for a family of four, and $5,652 for a family of five or more. Apply for RAP through your NSLSC account before you miss a payment, since getting ahead of a missed payment keeps your account in good standing while your income stays low.