How Ryerson students will be impacted
On January 17th, the provincial government announced sweeping rollbacks to the Ontario Student Assistance Program (OSAP), funding for Ontario colleges and universities and dramatically altering how student fees are administered.
The provincial government has announced a 10 per cent cut to tuition fees for domestic students across all programs, which will adversely affect each institutions’ funding. The government has also rolled back OSAP regulations to their 2016 form, which will result in a reduction in non-repayable grants and an increase in student loans and, therefore, the amount of student debt, while also proposing to remove the 6-month grace period for charging interest on student loans. These changes will make OSAP less accessible to the most marginalized who would be left with unsustainable debt. The announcement of a 10 per cent tuition cut seems like a welcome relief at first, but coupled with the OSAP changes this produces an overall loss for the majority of students. With both of these taken into account, the average student will save around $800 to $900 but lose several thousands more in grants.