Tri-Mentoring Program

Paying for School - Understanding the definitions

1. Entrance Scholarship

Students do not have to directly apply to this scholarship. If a student is eligible, s/he is automatically selected by the post-secondary institution the student is attending.

2. Scholarship / Bursary / Grant / Award

Money that is given to a student based on financial need. Academic achievement and community involvement may be considered when awarding a bursary. Students do not need to repay a bursary.

3. Ontario Student Assistance Program (OSAP)

Money that is temporarily lent to a student to help pay for the cost of education. OSAP is a loan and is meant to supplement the student’s other financial resources. Loan amounts vary based on different criteria. OSAP is interest-free while the student is attending a post-secondary institution full-time. However, 6 months after the student is no longer full-time, the student must begin to pay back the loan.

4. Work-study Program

Part-time, on-campus employment that is available to students each year. Hourly rates vary from $8 to $15 depending on the nature of the job. Examples include department and faculty office assistants, research assistants, recreation workers and student ambassadors.