The Province is giving students with OSAP loans a bit of a break during the Covid-19 pandemic.
To support borrowers during this tough time, there’s a six-month interest-free moratorium on the loans until September 30, 2020.
During this time, borrowers won’t have to make any loan payments and interest will not accrue on their OSAP loans.
Premier Doug Ford says the government is doing everything it can to ensure college and university students can take their exams and complete their school year while studying remotely
You can still make payments if you are able and want to. Payments during this period will go entirely towards your loan principal.
The province is also distributing $25 million in additional funding to publicly-assisted colleges, universities and Indigenous Institutes to help address each institution’s most pressing needs in the wake of the COVID-19 outbreak such as deep cleaning, purchasing medical supplies or offering mental health supports.