🔹 What’s New?
Generous Grants & Upfront Loans
Ontario recently enhanced OSAP, offering larger non‑repayable grants and upfront loans to support post-secondary students. Thanks to the revised rules, nearly 225,000 students now receive free tuition entirely covered by OSAP.
Payment Direct to Institutions
As of the latest update, OSAP funds go directly to colleges and universities. This means students and families will only be billed for any remaining fees not covered by grants and loans.
✅ Eligibility Essentials
- Open to Canadian Citizens, Permanent Residents, or Protected Persons residing in Ontario.
- Must be enrolled in a full-time program (12+ weeks). For students with disabilities, eligibility includes programs at least 40% of full-time.
📌 System & Interest Rate Updates
| Update                  | Details |
| NSLSC Login Change | Â Effective May 25, 2025, you must use My Service Canada Account (MSCA) to access NSLSC. Old credentials will no longer work. |
| Interest Rules | The federal portion remains interest-free during study. The provincial portion accrues interest at the prime rate + 1%. |
💰 What to Expect: Financials Overview
- Covered grants may lead to free tuition for qualifying students.
- Students and families will only pay outstanding balances after OSAP disbursement.
- NSLSC login must be updated by May 25, 2025, to avoid delays.
- Interest rates: Interest-free federal portion, prime + 1% provincial portion.
📘 OSAP Ministry-Defined Academic Year:
August 1 to July 31
This is the standard OSAP academic year used for:
- Annual income reporting
- Lifetime loan/grant tracking
- Aggregate funding calculations
- Interest-free status evaluations
- Grant-to-loan conversion (if needed)
🧩 So What’s the Difference?
| Purpose | Start – End | Used For |
| Student’s Personal Academic Year | Based on program start (52 weeks) | Program-specific OSAP funding and eligibility |
| OSAP System Academic Year | August 1 – July 31 | Student’s Academic Year |
✅ Summary:
- When you apply for OSAP, your academic year begins the day your program starts and lasts up to 52 weeks.
- However, for official OSAP records, grant limits, income matching, and ministry reporting, the system uses August 1 to July 31 as the universal academic year.
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