Students are expected to supplement their OSAP assistance with summer savings and parental assistance. No interest is charged on student loans while the student is in college. The first payment does not need to be made until six months after graduation. Please note that money borrowed under OSAP is a loan . While the interest on that loan is paid by the governments of Ontario and Canada while the student is in college, it is the responsibility of the student to repay that loan after completion of college.
Loyalist provides seminars, workshops, and other resources to help students to pay back their loans.
A full listing of student awards and bursaries can be found on the Loyalist College web site at Scholarships and Bursaries . Check with your parents to see if that applies to you. The repayment period for government student loans may be any period up to 15 years. These arrangements are worked out between the student and the financial organization. Interest relief programs are available for students after graduation who have not yet found employment.