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needs to get ahead.

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Select your province
Quebec, SK, MB, Atlantic - check your provincial portal ↗
Showing: Ontario - OSAP · Federal loans: 0% interest · Provincial loans: prime + 1% (5.45%)
Your student financial journey

Where are you right now?

Step 1 - Funding Estimator below. Understand your grants and loans before choosing a school.
2025-2026 · Ontario & Federal

Estimate your OSAP funding

Understand your grants, loans, and out-of-pocket costs before you apply. Always confirm at ontario.ca/osap.

ℹ️
Interest rates: Ontario loans: prime + 1% (prime is 4.45%, rate = 5.45%). Variable — check ontario.ca/pay-back-osap. Source: ontario.ca/pay-back-osap, Bank of Canada prime rate
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Recent OSAP Policy Changes - Effective Fall 2026
On February 12, 2026, the Ontario government announced major changes taking effect for the 2026-2027 academic year:
- Grants capped at max 25%, loans min 75% - previously up to 85% was non-repayable.
- No grants for private career college students - all provincial aid becomes loans only.
- Tuition freeze lifted - universities may raise fees up to 2% per year starting Fall 2026.
Estimator below reflects 2025-2026 rules. Ontario official release ↗
Parental income determines your eligibility.
Family / household income$60,000
Combined parental income. Grants reduce above $40K and phase out by ~$175K.
Annual tuition$7,500
Check your school's fee schedule - varies by program.
Student employment income$0
Your realistic summer or part-time earnings
Your estimated OSAP
Grants (never repaid)$3,788
Covers51% of tuition
Remaining out-of-pocket$3,712
Loans to repay$8,000
Estimated grants - never repaid
$3,788
Range: $3,106 - $4,470
Ontario Student Grant (OSG)$3,788
Canada Student Grant (CSG)$0
Total grants$3,788
Ontario Student Loan$3,000
Canada Student Loan$5,000
Total loans$8,000
$8,000 in loans must be repaid
Canada Student Loans are 0% interest (since April 2023). Ontario provincial loans accrue interest at prime + 1% (currently 5.45%) after graduation.
Scenario range
Conservative
$3,106
in grants
$8,800 in loans
Expected
$3,788
in grants
$8,000 in loans
Optimistic
$4,470
in grants
$7,200 in loans
Key takeaways
✓Grants cover 51% of your tuition - well above average.
✓A $10K income reduction could unlock $1,187 more in grants.
✓You will take on $8,000 in loans - plan your repayment strategy early.
What-if scenarios
If you lived at home instead
-$1,971 in grants
Living at home reduces grants but living costs drop significantly more.
If family income drops $10K
+$1,187 in grants
OSAP is highly sensitive to income changes.
If you studied one semester
-$1,894 in grants
Full-year enrolment maximizes your OSAP.
Housing decision

Live on campus vs
live at home.

Starting salary / income$55,000
Used to calculate monthly cash flow and 5-year savings
Monthly rent near campus$1,400
Avg 1BR Toronto ~$2,200. Shared room: $900-1,400.
One-way commute (km)50 km
~2000 hours/month commuting
Grant impact
Living away from home can add ~$250-400/month in grants - partially offsetting rent.
Live on / near Campus
$1,750/mo
Housing
$1,400
Transit
$0
Grant bonus
+$250
Living away = higher grants (~$250-400/mo extra). Maximum flexibility. No commute.
5-yr savings: $93,000
Live at Home + Commute
$610/mo
Housing
$0
Transit
$360
Grant bonus
-
2000 hrs/month commuting
Biggest financial win. Save $50K+ over 4 years vs renting - but factor in commute time.
5-yr savings: $161,400

Living at home and commuting for 4 years instead of renting near campus can save $60,000-$80,000. Invested in a TFSA, that becomes $100,000+ by age 30. The trade-off is commute time - a 1-hour each-way commute costs ~400 hours per year that could go toward studying, networking, or rest. These are the numbers - the decision is yours.

Graduate outcome simulator

School to real life.
What does your future look like?

Salary scenario
Source: Job Bank Canada 2024
Conservative: Small/mid-size company
Optimistic: FAANG / major tech
Note: Ranges widely by employer. FAANG / major tech pay significantly above median.
Total debt at graduation$35,000
Ontario average: ~$28K. Professional programs (law, med): $80K-$150K.
Monthly post-grad breakdown
Take-home (after ~28% tax)$4,920
Loan payment (10yr @ 0%)$292
Estimated living costs$2,200
Available for saving$2,428
Net worth after 5 years
$72,153
TFSA: $89,653 · Remaining debt: $17,500
Time to debt-free
10 years
At standard 10-year repayment. See loan calculator below to model extra payments.
TFSA at 7% avg return
$89,653
After 5 years of consistent investing from day one. TFSA guide
Loan repayment strategy

Plan your repayment
before you graduate.

✅
Federal loans: 0% interest
Since April 1, 2023, Canada Student Loans carry no interest - eliminated permanently, not deferred.
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Ontario loans: prime + 1%
Ontario loans: prime + 1% (prime is 4.45%, rate = 5.45%). Variable — check ontario.ca/pay-back-osap.
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Repayment Assistance Plan (RAP)
RAP caps your monthly payment at 20% of take-home if your income is low post-graduation.
⏸
Payment deferral available
You can request a 6-month repayment pause for financial hardship. Interest may apply on provincial loans during pause.
Repayment strategy
Repayment intensity
Your loan breakdown
Canada Student Loan (Federal)$18,000
0% interest since April 2023
Ontario Student Loan (Provincial)$10,000
prime + 1% = 5.45% — check your servicer
Total debt$28,000
Ontario loan interest rate (%)5.45%
Ontario loan interest: 5.45% annually
Repayment period10 years
Standard is 10 years. See comparison below.
Extra monthly payment$0
Even $50/mo extra makes a meaningful difference.
Expected starting salary$55,000
Used for debt-to-income ratio and RAP eligibility.
Monthly payment
$258
for 10 years · 120 payments
Total repaid$30,993
Federal interest (0%)$0
Ontario interest$2,993
Debt-to-income8% of take-home
Cost of extending repayment
At 0% interest the federal total cost is the same regardless of term. Toggle the Ontario rate above to see the real cost of a longer provincial term.
10-year (current)
Monthly
$258
Total repaid
$30,993
Provincial interest
$2,993
15-year
Monthly
$181
Total repaid
$32,660
Provincial interest
$4,660
20-year
Monthly
$144
Total repaid
$34,442
Provincial interest
$6,442