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Student Debt

OSAP changes include cutting interest grace period, more loans, and less grants

Ontario announced changes to the Ontario Student Assistance Program yesterday. Notable changes include: cutting the 6-month interest-free grace period, increasing the loan to grant ratio to a minimum of 50% loans, and changing applicant eligibility criteria – making less students qualified for funding. These changes will make it harder for students to secure funds to pursue post-secondary education, and mean they start accumulating interest on their debts the day they graduate. Read the full story here.