COVID-19 made settling figuratively speaking also more difficult than normal, which explains why OUSA recently sent letters for the provincial and you will federal governments asking these to provide assistance to share-supplementary graduates as they browse new payment processes. Once, each other governments launched a half dozen-week moratorium (or “freeze”) towards the Ontario College student Assistance Program (OSAP) repayments and you may interest accrual up until .
OUSA suggests the provincial regulators incorporate a-two-seasons, interest-100 % free sophistication months towards provincial part of OSAP fund, and that they focus on the federal government to make usage of this elegance several months design into the a federal level too
Lower than, I will explain what this signifies and you may address a number of the questions we heard regarding youngsters, as well as how moratorium is different from the usual OSAP sophistication several months, how it affects children graduating in 2010, and, in general, exactly what improvements OUSA desires to select to the current sophistication several months design.
When you are not used to OSAP or keeps questions relating to the way the system works, here are a few my personal article regarding the 2019 changes otherwise check out which page for informative data on that eligible for gives and you can funds, where financial support comes from, as well as how payment really works.
