Ontario Helping Students Manage the Costs of Postsecondary Education: Ontario is introducing new rules that will make it easier for students to pay their tuition and help ensure postsecondary education continues to be affordable.
Starting in the 2014-15 academic year, colleges and universities will begin rolling out the following changes:
- Tuition fees for a fall term will not be due before the beginning of August, restricting institutions from requiring tuition payments in June or July.
- Students who complete their Ontario Student Assistance Program (OSAP) applications by the beginning of August will not have to pay their tuition before receiving their financial aid.
- All students will be able to pay tuition in per-term instalments without paying deferral fees or interest charges.
- Colleges and universities may continue to charge a deposit on tuition, but the amount will be capped at $500 or 10 per cent of the tuition total, whichever is greater. Institutions must use the deposits to cover the student’s tuition fees.
Beginning in fall 2015, university students will be charged on a per-credit basis if they take less than a 70 per cent course load; in 2016, that number will rise to 80 per cent. By 2016, university students taking a 70 per cent course load could save as much as $1,700 per year compared to the flat rate they may be paying currently. Students with a disability will only be charged tuition on a per-credit basis, regardless of their course load.
Making it easier for students to manage the costs of postsecondary education is part of Ontario’s economic plan to invest in people, build modern infrastructure and support a dynamic business climate.
- The new billing policy will be fully implemented at all colleges and universities by 2015-16.
- Last year, Ontario issued more than $1 billion in grants and loans to students, including 230,000 students from low and middle-income families through the 30% Off Ontario Tuition grant.
- The province will also continue the existing freeze on the introduction of new program or flat fees.
- Ontario’s new Tuition Framework, introduced in March of this year, will save the average student $1,200 over four years.
- Investments in student assistance over the past 10 years have more than doubled the number of students qualifying for aid, while enrolment has increased by 40 per cent.
Ministry of Training, Colleges and Universities, December 5, 2013