Ontario students brace for ‘vast amount’ of debt amid OSAP changes, tuition increases

Aidan Jeffers, a graduate student at the University of Toronto, anticipates having to work additional hours and possibly turn to food banks due to significant changes to student financial aid in Ontario. The Ontario Student Assistance Program (OSAP) has experienced drastic reductions in non-repayable grants, dropping from 85 per cent to a maximum of 25 per cent, while loans now make up the remaining portion of funding.

This change has led to Jeffers expecting a substantial increase in his debt load, with his annual OSAP payment set to be $19,500, of which $12,000 will cover tuition. The province also lifted a tuition fee freeze, allowing colleges and universities to raise tuition by up to two per cent annually over the next three years. As a result, post-secondary students across Ontario are bracing for the impact of these changes as the new school year approaches.

Many students are concerned about the financial burden and are exploring additional sources of income and financial assistance to manage their expenses.