Students can apply for OSAP through the website. Returning students should apply by the end of May, first-year students by the end of June. Applications can still be submitted after these dates, although there is no guarantee funding will be in place prior to the beginning of the school year.
The loan is disbursed in two instalments, with 60% released in the Fall Term (starting in September) and the remaining 40% in the Winter Term (starting in January).
Grants are awarded each November automatically based on OSAP application data. Please see the Enrollment Services Website for further information.
University College has modest bursary funds available to assist students with demonstrated financial need during the Fall/Winter session. You can apply for financial assistance starting in October. To qualify for a bursary, students are expected to prepare a detailed budget and explore all sources of assistance, such as OSAP funding. To apply, you complete an Undergraduate Grant Application, submit it to the Registrar's Office, and set up an appointment for a financial aid interview.
Bursaries are not available for the summer session as summer study is considered optional.
Student Financial Aid Guidelines
The staff responsible for administering grants and scholarships must follow guidelines. These guidelines provide us with a set of principles which we apply when reviewing a student’s grant application or awarding a scholarship. Briefly:
- University funding will not replace the lack of OSAP (i.e. a student must be eligible for OSAP).
University funding is not intended to:
- Provide support to parents, relative or partners
- Pay debts
- Fund optional summer studies
- Cover medical or dental costs already covered by UTSU, APUS, or private health plans
- University funding can only assist registered students.
Student Financial Responsibilities
It is expected that students behave responsibly when it comes to their finances. It is expected that students:
- Apply early for government student loans, as it can take up to 8 weeks to receive the funding. By applying early, students will be able to begin their financial planning early and be ready to concentrate on their studies when classes begin.
- Make a payment toward their tuition fees promptly after receiving the funds from their student loan.
- Prepare a reasonable and responsible budget prior to the beginning of the academic year. It is important that students live within their means.
- Make every effort to remain in good academic standing. Students should avoid unnecessary tuition and debt by consulting with the Registrar’s Office about course selection and if dropping a course, with Enrolment Services (172 St. George St.) to determine any OSAP implications.
- Consider the impact of Summer studies on their resources for the Fall/Winter terms. They should also consider the effect of their lack of work experience on their résumé.
- Ensure their continued eligibility for OSAP by meeting OSAP’s standards of academic progress and other issues that may affect it.
- Maintain a good credit rating by borrowing responsibly and limit the use of credit cards by their current ability to repay.
- Explore all other avenues of financial support before applying for need-based grant assistance from the University. This includes, but is not limited to, family, OSAP appeals, savings, part-time employment, summer employment, external awards, and banks.
The University of Toronto Work-Study program provides opportunities for part-time employment for eligible students. For information on the work-study program, please see the Enrolment Services Website:
The Noah Meltz Program of Financial Assistance provides grant funding for students who are pursuing their degree on a part-time basis. For information on applicaton procedures for the Noah Meltz Bursary and other grants and loans for part-time study, please see the Enrolment Services Website.