Ontario government announces support for post-secondary students

The Ontario government is announcing a plan to help ease the burden on post-secondary students during the COVID-19 outbreak.

The government says Ontario Student Assistance Program (OSAP) loans will being will be subject to a six-month interest-free moratorium until September 30, 2020. They will also make online learning supports, including year-end exams, available to postsecondary institutions.

“During this unprecedented period, it is important to help students and current borrowers, so students can continue with their studies and borrowers do not have to worry about making loan payments,” said Premier Ford. “Our government is doing everything it can to ensure our college and university students can take their exams and complete their school year while studying remotely.”

Students who have borrowed from OSAP will not be required to make any loan payments and interest will not accrue on their loans. Borrowers can still make one-time payments via their online account or online banking if they want to repay their loans faster. Payments during this period will go entirely to the loan principal.

Ontario has finalized an agreement with eCampusOntario to make digital learning supports available to postsecondary institutions to ensure students can complete their academic year. These interim digital learning will provide publicly-assisted colleges and universities with the technology they need to properly conduct year-end assessments.

The province is also distributing $25 million in additional funding to publicly-assisted colleges, universities and Indigenous Institutes to help address each institution’s with needs such as deep cleaning, purchasing medical supplies or offering mental health supports.