OSAP, UTAPS & Financial Aid - Current Engineering Undergraduates

Government Assistance

While the cost of university can be high, there are resources that can help. For example, most provincial governments have loan programs. Along with the Canada Student Loan Program, provincial loan programs can help Canadian Citizens and Permanent Residents with the cost of post-secondary studies. The loans are interest-free as long as you are enrolled in full-time studies.

OSAP

The Ontario Student Assistance Program (OSAP) provides loans to Ontario residents. For more information, visit the OSAP website.

Applying for OSAP

OSAP's application is available online.

Returning students should apply for the Fall Term by the end of May. New students should apply by mid-June.

OSAP for PEY Co-op Students

The PEY Co-op stream has a study component and a work component. It’s important for students to indicate the exact component – study or work – when applying for OSAP.

Students registered for Co-op work terms are considered to be in a 100% course load for the purposes of OSAP, and are eligible for Full-Time OSAP (considered for loans and grants; and interest-free status) or full-time Continuation of Interest Free Status (no funding consideration; only used to notify the NSLSC of full-time enrolment status). This is irrespective of whether they register in regular courses, over and above their work term. Co-op work terms are not eligible for part-time OSAP funding, since they count as full-time enrolment.

PEY Co-op work terms cannot be used to establish residency for student aid purposes, since they count as full-time enrolment. For example, a student who is normally funded by a non-Ontario Province/Territory cannot use a PEY Co-op work term located in Ontario to gain Ontario residency for OSAP purposes. The opposite is also true: a student who normally gets funded by OSAP does not lose their Ontario residency if their PEY Co-op work term is located in another Province/Territory.

It is important to update the Engineering Career Centre (ECC) of your work term status before applying for OSAP since it could impact your assessment. If you have not secured a job and will not be on the PEY Co-op work term, you must ask the ECC to remove the Co-op work term from your registration for the term(s). If you have secured a job and will be on the PEY Co-op work term, you must ask ECC to add the Co-op work term to your registration for the term(s). Only apply for OSAP once your plan is finalized:

PEY Co-op work term only (full-time OSAP at 100% course-load);
PEY Co-op work term and regular courses (full-time OSAP at 100% course-load; upload a letter to the OSAP website to declare the additional regular courses)
Regular courses only (depending on how many, you can apply for full-time or part-time OSAP);
- Final deadline to apply for full-time OSAP: 60 days before the end of your full-time term(s)
- Deadline to provide all required documents: 40 days before the end of your full-time term(s)

Do I need to let OSAP know that I’m still a student while on PEY Co-op work terms?

Yes. There are two ways to do so:

Apply for Continuation of Interest-Free Status (CIFS) to have your full-time enrolment confirmed.

If you do not want to apply for full-time OSAP but have previous full-time OSAP loans, you can start the Continuation of Interest-Free Status (CIFS) online application 15 days before the start of the first day of classes of any semester. We recommend that you apply no later than the first week of the academic session. U of T will confirm your full-time CIFS application starting in late September, which will notify the NSLSC of your status.

For the Fall and Winter work terms, you can submit a CIFS application for September to April. A separate application is required for the summer work term, close to the start of that term.

To submit your CIFS application, follow these steps:

Log in to your OSAP account.
On the Application page, click on “Apply for interest-free status”
In the field asking for your program name, write “PEY co-op” (not your academic program). If you don’t write “PEY co-op” there may be an issue with your application.
Select PEY Co-op WORK terms from the list.
- The list usually displays Fall and Winter work terms.
- If you will only be on the co-op work term for one term, you must manually enter your start and end dates (e.g., Sept to Dec or Jan to April).
Once you submit your CIFS application, allow 4-6 weeks for your full-time status to be confirmed by the University. You will know this has been done, when your status shows as “Eligible”, then contact the NSLSC to discuss any outstanding interest and/or payments that may be required.

Earliest you can submit a CIFS application: 15 days before the start of your full-time term(s).

Final Deadline to apply for CIFS: 21 days before the end of your full-time term(s). DO NOT wait until this deadline, since you’ll be responsible for any accrued interest and payments.

Apply for full-time OSAP (to have your full-time enrolment confirmed and to possibly receive funding):

If you choose to apply for full-time OSAP while on PEY co-op work term(s), please do so in mid-late May once the application is launched. Once your application is complete and eligible to be confirmed, the University Registrar’s Office will confirm your enrolment in September. The full-time OSAP confirmation of enrolment will notify the NSLSC that you’ve returned to full-time studies. You are required to report your gross PEY work term income, before any deductions, when you apply for full-time OSAP.

Applying for Full-Time OSAP while on PEY Co-op (Fall-Winter Terms)

Apply for OSAP online: www.ontario.ca/osap

Log into your OSAP account.
On the Application page, click on “Apply for full-time”.
In the field asking for your program name, write “PEY co-op” (not your academic program). If you don’t write “PEY co-op” there may be an issue with your application.
Select PEY Co-op WORK terms from the list.
- The list usually displays Fall and Winter work terms
- If you will only be on the co-op work term for one term, you must manually enter your start and end dates (e.g., Sept to Dec or Jan to April).
For the Fall and Winter work terms, you can submit an application for September to April. Report your total (gross) work term income, before any deductions, as study period employment/other income. Important: PEY co-op work terms are considered to be in a 100% course load for the purposes of OSAP, and are eligible for Full-Time OSAP (irrespective of whether you register in courses, over and above the work term).

Deadlines:

Recommended deadline to apply and provide all required documents for full-time OSAP: June 30.
Final Deadline to apply for full-time OSAP: 60 days before the end of your full-time term(s).
Deadline to provide all required documents: 40 days before the end of your full-time term(s).

If you are taking classes during your PEY Co-op, you must notify OSAP of your plans so that your course fees can be considered in your OSAP assessment. After you submit your OSAP application, upload a letter indicating how many courses you plan to take on the "Additional Uploads" page in the "Required Documents" section of your online OSAP application.

A separate application is required for the summer work term, close to the start of that term.

Applying for Full-Time OSAP while on PEY Co-op (Summer Term)

You can apply for full-time OSAP for the summer portion of your PEY Co-op work term (if enrolled in the 12-16 month PEY co-op work term).

Important: PEY co-op work terms are considered to be in a 100% course load for the purposes of OSAP, and are eligible for Full-Time OSAP (irrespective of whether you register in courses, over and above the work term, during the summer).

Report your total (gross) work term income, before any deductions, as summer study period employment/other income.

If you’re not enrolled in the PEY Co-op work term and you’re taking regular degree courses, you may apply for full-time OSAP or part-time OSAP depending on how many regular degree courses you will take.

Please note, applying for part-time OSAP WILL NOT prevent your previous full-time OSAP loans from entering repayment status!

More information on summer OSAP is available on the URO's Summer OSAP page.

Repayment Notes

The repayment of your previous OSAP loans starts six months from when you were last a full-time student. For example, if you were last full-time in April, you are given a 6-month non-payment period, in which interest accrues on the Provincial portion of your OSAP loans, with that period expiring on October 31. In this case, the deadline for students to have a full-time OSAP/CIFS application confirmed to have the accrued interest reversed and avoid loan repayment is October 31.

It is important to apply for full-time OSAP/CIFS well in advance of October 31. DO NOT wait until that deadline to submit your OSAP/CIFS application since processing times can be lengthy. OSAP/CIFS applications submitted after October 31 can still be processed and confirmed, but you will be responsible for any accrued interest and payments. If you wait until the final deadline to submit the OSAP/CIFS application, you will be responsible for any accrued interest/payments.

The processing time for applications during peak periods (start of the term) is around 4-8 weeks. Once your OSAP/CIFS application is complete, U of T will confirm your full-time enrolment, which will notify the NSLSC of your status.

Do I have to reapply to receive OSAP funding after completing my PEY Co-op work terms?

Yes, as with every year you received OSAP in the past, you must reapply if you need assistance upon returning to your studies. When re-applying, please ensure you put your degree program as the program and indicate Year 4 of 4.

Deadline to apply for OSAP: 60 days before the end of your full-time study term(s) OR earlier, since you cannot receive OSAP funding without an application.

Deadline to provide supporting documents: 40 days before the end of your full-time study term(s) OR earlier, since you cannot receive OSAP funding without required documents.

How do I maintain interest-free status if I don't need OSAP after returning from PEY Co-op work terms?

If you received OSAP in the past and will not need funding again after completing your PEY Co-op work terms, please advise the National Student Loans Service Centre (NSLSC) when you return to full-time studies by completing the CIFS form online through your OSAP account and ensure you indicate your degree program as the program. If you received a student loan from another province, please contact your lender for instructions on what they require when you return to your full-time studies after completing your PEY Co-op work terms.

If I receive a student loan from another province, will I still receive the same interest-free status as students receiving OSAP loans?

Yes, however, please check with your provincial lender for information on which forms are required to maintain interest-free status. When filling out the relevant forms, you must indicate “PEY Co-op work terms” as your program name and student status in this program as full-time. Indicate September 1, 2026 for the study period start date and April 30, 2027 for the study period end date. The program name, start and end dates are the same for all students registered in PEY Co-op work terms. These details are critical to ensure you keep your loans interest free.

More information is available on the URO's page on Provincial & Territorial Student Aid Program.

PEY Co-op work terms and student aid academic progress

Students who receive Full-Time OSAP or out-of-Province government funding while on PEY Co-op work terms should be aware that there are consequences if they do not satisfy the requirements for completing their PEY Co-op, that is, if they receive an INC for PEY Co-op 300Y/400Y.

If you have questions regarding the consequences, please contact Pierina Filippone, Assistant Registrar, Scholarships & Financial Aid at pierina.filippone@utoronto.ca or the University Registrar’s Office.

For OSAP questions regarding PEY Co-op, please contact the University Registrar’s Office (URO). You can find general OSAP information on the URO's OSAP page.

Provincial and Territorial Student Aid Programs

Students who are Canadian citizens, permanent residents, or protected persons may be eligible for financial assistance from their provincial or territorial government. See below for more details on your specific province or territory.

Out-of-Province Request Portal

Out-of-province students can access the Out-of-Province Request Portal, managed by the University Registrar's Office. Through the portal, students may:

Submit government student funding forms that require completion (i.e., Program Information Form, Quebec Form 1121).
View the request status.
Receive important notifications and communication updates regarding requests.

Loan Repayment

Are you graduating or taking a term/year off? This webinar will explain everything you need to know about repaying your loan.

Check out the National Student Loans Service Centre (NSLSC)'s YouTube channel for more information on the support they offer borrowers throughout their student loan experience.

University of Toronto Advance Planning for Students (UTAPS)

U of T is committed to ensuring no student admitted to a program at the University is unable to enrol or complete their program because of financial difficulties. UTAPS is U of T's largest need-based support program and covers the financial gap between a student’s actual education costs and the costs recognized by their provincial/territorial government student financial aid program. In other words, UTAPS covers unmet financial need.

Through UTAPS, U of T provides non-repayable grants to students to help cover this financial need gap or unmet need. However, students must apply for government aid options before applying for UTAPS.

UTAPS Eligibility

To be eligible for UTAPS funding, you must be a Canadian citizen, permanent resident, or a protected person who has been deemed eligible for government student financial assistance, such as through OSAP. Indigenous students who are receiving educational funding are also eligible for UTAPS. Students interested in applying for UTAPS must be registered in a full-time course load. Visit the UTAPS Eligibility page for more information on the eligibility requirements.

Applying for UTAPS

All students who would like to be considered for UTAPS must complete and submit an application through the Need Navigator, along with any supporting documentation required. Applications must be submitted by the deadlines listed on the UTAPS website.

Should you find yourself in financial need, have not received adequate government funding, and have not heard from UTAPS, please email awards@engineering.utoronto.ca.

U of T Indigenous Tuition Initiative

The University has created a new Indigenous Tuition Initiative to foster and strengthen relationships between U of T and Indigenous communities. This initiative includes three programs:

The U of T Indigenous Tuition Grant covers the cost of tuition in eligible undergraduate and graduate programs for students from the nine identified First Nations communities
Indigenous students from the rest of Canada may be eligible for domestic Ontario tuition fee
Native American/Alaska Native students from the continental U.S.A. may be eligible for domestic Ontario tuition fee

Faculty Grants

Domestic Students

If you have exhausted all other means of support and still find yourself in financial difficulty, the Faculty can provide financial assistance in the form of a grant. Faculty grants do not replace OSAP or UTAPS. The grants help alleviate temporary financial setbacks. If you are not eligible for OSAP and/or other provincial government assistance, you may still submit a Faculty grant application. The application is available in ACORN under the finance section.

International Students

As the University is a publicly funded institution, it cannot offer financial aid to international students. However, U of T does have grants for international students to help cover emergency situations. The grants are primarily intended for students in their third or fourth year of studies.

To apply, please complete the form in the U of T Undergraduate Grant Application Portal and make an appointment to speak with the Assistant Registrar, Scholarships & Financial Aid to discuss your application. More information is available on the Undergraduate Grants website.