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.
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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.
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.
Graduate outcome simulator
School to real life. What does your future look like?
Enter your program and expected salary. Set your comfort level for debt payments as a % of income. See how long until debt-free and what you could invest.
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.
Debt-to-income ratio20%
% of your take-home spent on loan payments. 20% is standard aggressive.
Monthly cash flow (estimated)
Gross salary (annual)
$82,000
Take-home (after ~28% tax)
$4,920/mo
$59,040
Loan payment (20% of take-home)
$984/mo
$11,808
Living costs (estimated)
$2,200/mo
$26,400
Available for TFSA after debt is paid
$1,736/mo
$20,832
Debt-free timeline
3.0 yrs
36 months of $984/mo payments
After debt-free point
You'll have $1,736 per month available to invest for the remaining 2.0 years.
TFSA value by year 5$46,141
Assuming 7% annual returns on $1,736 annual contributions starting after year 3.
Reality check
Adjust the debt-to-income ratio slider to find your comfort level. At 20%, you're spending $984 on debt while still covering $2,200 in living costs.
Try different scenarios
Change the salary tier (conservative/median/optimistic) to see how income affects your timeline. Change debt-to-income to see the trade-off between paying off faster and keeping cash flow for emergencies.
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.
⚠
Ontario loans: prime + 1%
Ontario loans: prime + 1% (prime is 4.45%, rate = 5.45%). Variable — check ontario.ca/pay-back-osap.
🛡
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 plan
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
Expected starting salary$55,000
Used for aggressive mode calculation 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.