osap OSAP Tuition Information

[Lahme]

Hello all,

I was trying to find information about OSAP but the only stuff I could find was from years ago. I did engineering for undergrad so my tuition was relatively high; OSAP would cover all and give approximately half as grants (I think it was called opportunity grants). Is the same sort of thing applicable to med tuition? Or is it they give enough to cover tuition (+ added expenses) and it's all payable.

I know that the government has added a lot of grants and incentives recently (for example, I think there are grants for people under a certain income) but I've been out of undergrad for a few years so I'm not current on any of that. If anyone has info about those too it would be greatly appreciated.

[robclem21]

I think tuition is similar at most Ontario schools, and OSAP will 100% not cover it all. The most I have people generally Receiving in a single year is around 15K (tuition is about 25-26K). This is a combination of grants and loans. The grants can be up to around 50% or slightly higher. Some schools will also give out additional bursaries that you do not need to pay back, but most students use a LOC to cover tuition and the rest of their living expenses.

I had OSAP through 4 years of undergrad and haven't had this affect any of my grants/loan status in med school.

[Aetherus]

OSAP will give you around 13-16k assuming that your parents income no longer factors into the calculation. Everything over 8k will be given as grants or debt forgiveness. In 3rd year at some schools, you are considered to be a student for the whole year (12months instead of 8months) and therefore you will receive more OSAP (approx 23k). Because it's a longer study period, everything over 10k will be given as grants.

[la marzocco]

Quickly did a mock using the OSAP calculator. See assumptions at the very bottom. I am going to use U of T as the medical school for this example. The max it appears for U of T is $17K.

Grants: $8,800
Loans: $8,100
=
Total: $16,900
 
These are the estimated costs and information you provided, which were used to calculate your estimate.

Tuition and education costs (estimated)
Tuition: $25,660
Compulsory fees: $1,862
Books, supplies and other costs: $2,355
Travel and living allowances: $11,301
Total estimated costs: $41,178
School, personal and financial information
UNIVERSITY OF TORONTO - Doctor of Medicine: MD
Aug 27/18 - May 27/19 
2 term program 
Entering year 1 of 4 Bachelor
39 weeks long    

Current status: I have been out of high school for at least 4 years as of the start of my study period 
Permanent disability: No    
Do you want to self-identify as an Indigenous person: No 
Total gross yearly income from all sources: $0 
Value of scholarships, bursaries and/or awards during your study period: $0 
Have Registered Retirement Savings Plan (RRSP): No 
RRSP value: $0 
Other assets value: $0 

Source: https://osap.gov.on.ca/AidEstimator1819Web/enterapp/select_institution.xhtml 

[la marzocco]

What I found odd is they give more funding for OOP medical schools. I think they factor in living away from home - not too sure.

Grants:$11,400
+
Loans:$8,800
=
Total: $20,200

These are the estimated costs and information you provided, which were used to calculate your estimate.

Tuition and education costs (estimated)
Tuition:$15,546
Compulsory fees:$2,208
Books, supplies and other costs:$3,000
Travel and living allowances:$10,363
Total estimated costs:$31,117
School, personal and financial information
MCGILL UNIVERSITY - MDCM - Medicine
Aug 27/18 - Jun 19/19 
3 term program 
Entering year 1 of 4 Bachelor
42 weeks long    

Current status: I have been out of high school for at least 4 years as of the start of my study period 
Permanent disability: No    
Do you want to self-identify as an Indigenous person: No 
Total gross yearly income from all sources: $0 
Value of scholarships, bursaries and/or awards during your study period: $0 
Have Registered Retirement Savings Plan (RRSP): No 
RRSP value: $0 
Other assets value: $0 

[InternistInTraining]

4 hours ago, la marzocco said:

What I found odd is they give more funding for OOP medical schools. I think they factor in living away from home - not too sure.

Grants:$11,400
+
Loans:$8,800
=
Total: $20,200

These are the estimated costs and information you provided, which were used to calculate your estimate.

Tuition and education costs (estimated)
Tuition:$15,546
Compulsory fees:$2,208
Books, supplies and other costs:$3,000
Travel and living allowances:$10,363
Total estimated costs:$31,117
School, personal and financial information
MCGILL UNIVERSITY - MDCM - Medicine
Aug 27/18 - Jun 19/19 
3 term program 
Entering year 1 of 4 Bachelor
42 weeks long    

Current status: I have been out of high school for at least 4 years as of the start of my study period 
Permanent disability: No    
Do you want to self-identify as an Indigenous person: No 
Total gross yearly income from all sources: $0 
Value of scholarships, bursaries and/or awards during your study period: $0 
Have Registered Retirement Savings Plan (RRSP): No 
RRSP value: $0 
Other assets value: $0 

what about schools in the US? do you still qualify for that amount of OSAP or do you get anything at all if you study at a US medical school? or is OSAP only available for students enrolled in a canadian med school?

[la marzocco]

2 hours ago, InternistInTraining said:

what about schools in the US? do you still qualify for that amount of OSAP or do you get anything at all if you study at a US medical school? or is OSAP only available for students enrolled in a canadian med school?

Going to a US school, you do qualify for OSAP, albeit at much lower rate. Just make sure your US school is on the approved list of schools - there is a search engine for that on OSAP. I did a mock for you. Per AAMC, the average medical school tuition in the US is $50K USD or $65K CAD (what I used as the assumption for the calculation). The max OSAP seems to give you for going abroad is $13K CAD. A really big gap to fund the $80K CAD needed - funded by way of LOC, family support, previous career, a mix of the above. 

Grants: $3,800

+

Loans: $9,200
=
$13,000
 
These are the estimated costs and information you provided, which were used to calculate your estimate.

Tuition and education costs (estimated)

Tuition:$64,677
Books, supplies and other costs:$3,000
Travel and living allowances:$12,750
Total estimated costs:$80,427

School, personal and financial information

Current status: I have been out of high school for at least 4 years as of the start of my study period 
Permanent disability: No    
Do you want to self-identify as an Indigenous person: No 
Total gross yearly income from all sources: $0 
Value of scholarships, bursaries and/or awards during your study period: $0 
Have Registered Retirement Savings Plan (RRSP): No 
RRSP value: $0 
Other assets value: $0 
 

[InternistInTraining]

1 hour ago, la marzocco said:

Going to a US school, you do qualify for OSAP, albeit at much lower rate. Just make sure your US school is on the approved list of schools - there is a search engine for that on OSAP. I did a mock for you. Per AAMC, the average medical school tuition in the US is $50K USD or $65K CAD (what I used as the assumption for the calculation). The max OSAP seems to give you for going abroad is $13K CAD. A really big gap to fund the $80K CAD needed - funded by way of LOC, family support, previous career, a mix of the above. 

Grants: $3,800

+

Loans: $9,200
=
$13,000
 
These are the estimated costs and information you provided, which were used to calculate your estimate.

Tuition and education costs (estimated)

Tuition:$64,677
Books, supplies and other costs:$3,000
Travel and living allowances:$12,750
Total estimated costs:$80,427

School, personal and financial information

Current status: I have been out of high school for at least 4 years as of the start of my study period 
Permanent disability: No    
Do you want to self-identify as an Indigenous person: No 
Total gross yearly income from all sources: $0 
Value of scholarships, bursaries and/or awards during your study period: $0 
Have Registered Retirement Savings Plan (RRSP): No 
RRSP value: $0 
Other assets value: $0 
 

your the best! thank you so much! it actually means i would need 260k CA which can be covered from LOC, so all can be covered with these 2 loans!

[la marzocco]

You should do a budget nonetheless. The living allowance osap used in the calculator seems a bit low imo.

[InternistInTraining]

i hear you. yea definitely i think there a couple other sources out there that I could get my hands on but those two should cover the majority of it

[WindsorHopeful]

Hi I heard that you don't get a grant portion in OSAP after 8 semesters, is this true?

[la marzocco]

9 minutes ago, WindsorHopeful said:

Hi I heard that you don't get a grant portion in OSAP after 8 semesters, is this true?

The new OSAP will include two main components:

1. A “base” component will be calculated similar to the current 30% Off Ontario Tuition grant and will cover a percentage of average tuition costs. This component is based on family income, not need.

2. A “needs-based” component will look at the student’s financial need (costs minus resources) and calculate any remaining amount of Ontario aid.

• There will be a maximum amount of time a student can receive the base grant component, which is for a total of eight academic terms. (However, students with disabilities may be considered for up to six years, or 12 terms.) This maximum will factor in any previous tuition support provided through the 30% Off Ontario Tuition grant. For example, if a student received two terms of the 30% Off Ontario Tuition grant in 2016–17, they would be eligible for six additional terms of the base component.
• The needs-based component will continue to be available through additional years of study, up to the OSAP lifetime maximum and will ensure Ontario aid stays all-grant for low-income students. The lifetime maximums are 340 weeks for an individual who is enrolled in a program of study other than a doctoral program, or 400 weeks for an individual enrolled in a doctoral program — this is about 10 years of postsecondary school.
• Students who are studying at an Ontario publicly assisted college or university, and whose family income is less than $50,000, are eligible for a top-up grant that ensures their tuition is covered. However, once a student has reached the maximum amount of base grant, they are no longer eligible for a top-up. For example, if a student is eligible for $6,000 in grants, but their tuition is $6,300, they would receive an additional $300 (if their family income is less than $50,000 and they are studying at an Ontario publicly assisted college or university). Once this student reaches their maximum number of base components, they would not be eligible for the $300 top-up.