The OSAP program has undergone significant changes including how your funding is received. All OSAP funding will be issued electronically to your bank account and you will indicate when you apply for OSAP whether you want tuition fees deducted and sent to Ryerson electronically. You will receive 60% of your funds in September and 40% of your funds in January. Apply early to avoid delays and check your OSAP account online regularly for updates and messages regarding funding.

Late fee charges (as outlined by the Student Fees Office), will apply to all fees until paid. Further details are available on the Student Financial Assistance

Website at "http://www.ryerson.ca/financialaid"www.ryerson.ca/financialaid.

Any changes to your course load must be brought to the attention of the Student Financial Assistance Office for OSAP purposes.

Not taking a full course load? Dropping a Course? Applying for Transfer Credits?

You need to make sure that your actual course load is in line with the OSAP requirements. If your OSAP assessment was calculated based on a full course load (100%) and you are actually taking fewer courses than the required full course load, then your OSAP will be reassessed based on your actual course load per term. OSAP does NOT average course loads. For example, if you are taking 80% course load for the Fall Term and 40% course for the Winter Term, the course loads will not be averaged to equal 60% to meet the minimum course load requirement. In this case, you would be eligible to apply for the Fall Term however, you would not be eligible to apply for OSAP funding for the Winter Term.

Before changing your course load or with-drawing, you should discuss your situation with a Financial Aid Advisor. Your OSAP funding may be recalculated and you may be in receipt of an overpayment. An overpayment on your OSAP account will be deducted from any future funding you receive in the current academic year (if applicable) or you will be required to repay the overpaid amount before any further funding will be made available. If you drop courses, any tuition fee refund you will be eligible to receive, will be forwarded to the National Student Loan Service Centre, to pay down your loan and reduce any overpayment on your OSAP file.

Worried about your total debt load?

The Ontario Student Opportunity Grant is available to help students reduce their annual Ontario Student Loan debt. The grant is made available at the end of each of your academic years and replaces the former Loan Forgiveness program. You are eligible for the grant if your loans for the year exceed $7000 for a two-term academic year or $10,500 for a three-term academic year.

Please refer to the OSAP website osap.gov.on.ca. for further eligibility requirements and conditions.

Does Ryerson provide any financial assistance?

Students have access to financial assistance programs funded by private donors, tuition fee increases and government initiatives.

For detailed information, please contact Student Financial Assistance at 416-979-5113 or at www.ryerson.ca/financialaid.

On-campus Work Study Programs - Targeted to students in financial need, a number of part-time jobs are offered under the Ontario Work Study Plan and through a university work study initiative.

For further information, check our website at www.ryerson.ca/financialaid/jobsoncampus.

Does Ryerson provide short-term loans?

Ryerson offers short-term loans to provide assistance in meeting short-term cash flow problems. They are definitely not designed to cover last-minute emergencies.

Short-term loan details:

Maximum loan is $600.

Loan must be repaid within 30 days.

Tuition Fee must be paid in full.

Interest on these loans is 1.5% per month.

Contact Student Financial Assistance about your eligibility

Moving? Be sure to notify Student Financial Assistance of any changes in your address for OSAP purposes as well as Enrollment Services and Student Fees. You may also change your address directly through the OSAP Website address.