Province announces plan to link student loan maximums to inflation

On December 8, 2014, the Province of Ontario announced changes to provincial student aid that it says will help modernize the Ontario Student Assistance Program (OSAP).

As of the 2015-2016 school year, OSAP will tie the maximum amount of financial aid available to students to inflation. The debt cap — the level above which student loans are forgiven — will also be indexed to inflation.

The province also announced the Ontario Student Loan Rehabilitation Program, intended to allow borrowers who defaulted on the Ontario portion of their student loan to bring their loan back into good standing.

UOIT students can obtain more information about the changes by contacting Student Awards and Financial Aid, in the Office of the Registrar.