Apparently, the Ford government wants to revamp Ontario’s post-secondary student loan and grant program and put students into even more debt than they are in right now.
The Ontario Student Assistance Program, better known as OSAP, offers students financial assistance through a combination of loans and grants. In the past students who qualify can receive up to 85 per cent of their tuition in grants and the remainder as a loan.
The Ford government wants to change the formula starting in 2026-2027 so that grants for university students will be capped at 25 per cent of total aid, while loans will make up at least 75 per cent. College students applying for OSAP won’t be eligible for any grants at all, their assistance would come in the form of loans only.
The shift from 15 per cent of financial assistance in the form of a loan to 85 per cent would see students take on an additional $7,800 in debt per year.
OSAP is currently capped at a maximum of $13,000 per year – $11,050 in grants and $1,950 in loans. Under the changes being proposed by the Ford government, $3,250 would be covered through grants and $9,750 would be awarded in the form of a loan.
The changes would impact students with fewer financial resources than students who are more well off. In other words poor students need the money more than richer peers and therefore are more like to receive the maximum in financial aid. Unfortunately that means that will end up graduating with a much greater financial burden in terms of debt.
If they are eligible for the maximum in OSAP assistance they could graduate with $39,000 in debt under the proposed changes, whereas those students who graduated under the old system would only owe a maximum of $7,800 in debt. That’s a massive difference, especially for someone is just setting out in their chosen field.
The proposed changes are bad for a number of reasons. It’s already nearly impossible for someone in their mid to late 20s to save enough money to afford a downpayment on a first home. Saddle them with $39,000 in student debt and they can forget about ever owing a home unless a rich relative dies and leaves them a pile of cash, or they win a lottery.
Second, it will make a lot of students with limited financial resources think twice about applying for university. It will turn the universities into an institution for the elite – poor people need not apply.
If you want to change the current OSAP program you should make students who already have the financial resources to pay for their tuition on their own to do so and keep the current grant/loan formula in place for students who really do need the money.
We all benefit from a more educated society. The more we can do to achieve that goal the better.
JEFF LEIPER LISTENING TOUR stop from 6 p.m. to 8 p.m. at the Stray Dog Brewing Company, 501 Lacolle Way. Come out and share ideas, raise concerns, and talk about the issues with mayoralty canddiate Jeff Leiper.
TRIVIA NIGHT from 7:30 p.m. every Tuesday night at the Royal Oak Pub Orléans. Free to play. Prizes for the winning team! The Royal Oak Pub is located at 1981 St. Joseph Blvd. near Jeanne d'Arc. For more info visit 
TRIVIA NIGHT from 6:30 p.m. at the Stray Dog Brewing Company. Exercise your grey matter before it turns to mush over the holidays. Reservations are a must to secure your spot. Send your team name and number of people to info@straydogbrewing.ca. The Stray Dog Brewing Company is located at 501 Lacolle Way in the Taylor Creek Business Park.
OPEN MIC NIGHT upstairs at the Orléans Legion, 800 Taylor Creek Dr. starting at 7 p.m. Singing, comeday, poetry and more. All level of talent welcomne. Sign up at the door. Bring some friends and have some fun.
MOTHER'S DAY TEA PARTY hosted by the Rotary Club of Orléans from 12 noon to 2 p.m. in the basement of Paroisse St-Joseph, 2757 St-Joseph Blvd. Tickets $50, $20 for children 5-12. Best fascinator contest. For more information, please contact Director of Fundraising Mashooda Syed at 613-255-0870. Money raised will go to the Columbia Learning Centre the Corner of Knowledge.
