Ontario will be extending its post-secondary tuition freeze for a third year.
The government made the announcement in a news release, saying that the 2019-20 tuition freeze will be extended again through the 2022-2023 academic term.
“Our government recognizes that students and their families make huge sacrifices to attend college and university, so our government will continue to look for ways to reduce financial barriers for learners,” Jill Dunlop, Minister of Colleges and Universities, said in a statement.
“By freezing tuition for another year, we are saying yes to ensuring that students have access to affordable, high-quality postsecondary education, and reducing the financial strain on families who have already faced so many challenges throughout the pandemic.”
In the statement, the government touts a “historic” 10 per cent reduction in tuition for 2019, something they say has saved students about $450 million annually when compared to costs the previous year.
At the same time, the province also eliminated free tuition for low-income students through the Ontario Student Assistance Plan. Instead, students with a family income of $50,000 and below will receive a mix of grants and loans, that will need to be repaid to the government.
They also reduced the annual income threshold for OSAP repayment from $35,000 to $25,000—meaning that upon graduating, once a student makes $25,000 they will have to start paying back the money they borrowed.
The six-month grace period on interest was also eliminated.
The 2019-2020 tuition freeze was extended last year due to the COVID-19 pandemic but did not apply to out-of-province or international students.
View original article here Source