Loans

OSAP

Offered by the Ministry of Training, Colleges, and Universities, OSAP Financial Aid is a range of programs that, based on financial need, offers non-repayable grants as well as loans you must repay. Information and applications are available on the OSAP website.

UTAPS

Most OSAP recipients will receive additional funds from UTAPS (U of T Advance Planning for Students). This program bridges the gap between the OSAP calculated need and the OSAP maximum loan. Out-of-province student loan-holders are eligible but MUST apply separately. Information and application forms are available online.

Maintain Interest-Free Status

If you have a previous Canada Student Loan (CSL), Ontario Student Loan (OSL), and/or Canada-Ontario Integrated Student Loan, you must ensure that your previous loan(s) are placed in interest-free status while you are continuing your studies. Keeping this interest-free status means that you do not have to repay the loan while you are in school and that the Government of Canada and/or the Province of Ontario will continue to pay the interest on your loan. If do not keep your loans in interest-free status, you will be required to start repaying your loan(s) within six months of the end of your last study period. The Confirmation of Enrollment form is available online. More detailed information is available on the OSAP website.

SGS Emergency Loan Fund

Offered by the School of Graduate Studies, this loan alleviates temporary cash flow problems for students who are expecting to receive a payment in the near future.  The maximum loan amount is $1000 and is interest-free until the mutually agreed upon repayment date, which is typically within a month of the date of issue. Applications need to be submitted to the Graduate Awards Office by 2pm in order to be evaluated and processed within 2 business days. You will be notified by SGS of your application status within 1 business day. If the application is approved, a cheque or funds will be directly deposited into your bank account within 48 hours. The application form can be found on the SGS student forms page. Please email graduate.awards@utoronto.ca for more information.