For most full-time, undergraduate students at Woodsworth College, the first avenue of financial assistance is through the federal and provincial (ie OSAP) loan program. Eligible students must maintain a course load of at least 60% in each term to qualify for federal/provincial funding.
Woodsworth College Bursaries and Grants
The College has an extensive bursary and grant program. Students are encouraged to apply when applications become available October 1 for the Fall/Winter Session and the first week of classes in the summer session. Most students applying for a bursary will have already applied for other funding. However, students are encouraged to meet with the College’s financial advisor to discuss their individual circumstances.
Students who receive provincial loans may be eligible for a UTAPS grant. University of Toronto Advance Planning for Students (UTAPS) is a financial aid program for students who are assessed by OSAP as requiring maximum assistance, and whose assessed need is not fully covered by government aid. U of T will ensure that this need is met. Students who receive loans from provinces other than Ontario are required to submit an UTAPS application.
Financial Aid for Part-time Students
Depending on their course load, part-time students can apply for the Noah Meltz Grant, a grant offered though the University of Toronto to assist part-time degree students with their educational costs, or part time OSAP. The application for the Noah Meltz grant and information about Part time OSAP can be found on the Enrolment Services website. http://www.adm.utoronto.ca/adm-awards/html/financial%20aid/parttime.htm#osap
If you have been financing your education with Canada or Ontario student loans (OSAP) you should consider a repayment plan. Your first payment is due in the seventh month after you cease to be a full-time student. This is your “Consolidation Date”. While you are a full-time student (i.e., 60% course load or greater), the Federal and Provincial governments pay the interest on your student loans. You are responsible for arranging repayment with your lender(s) before your six-month period expires by signing a Consolidation Agreement/Loan Repayment form. This will specify your monthly payments, the term and the interest rate. For detailed information go to this site.