Ontario Bursaries and Scholarships

Understanding the difference in Ontario bursaries and scholarships in Canada isn’t difficult. If you understand that college funding can come from a wide range of sources you naturally will apply for student loans and scholarships, as well as grants. A Canada or Ontario bursary is essentially the same thing as a grant or scholarship except it is taxable, and a portion of it may have to be repaid. Usually, repayment is made through student employment or work study programs, but this isn’t always the case.

Whether you are applying for Ontario bursaries through OSAP or other sources, such as your financial aid office at your school, there are certain things that you need to pay attention to. This starts with the purpose of the Canadian bursary, as this will describe who may or may not be eligible for the Canada bursary. For example, the purpose of the Aboriginal Postsecondary Education and Training Bursary is to provide ‘targeted financial aid to Aboriginal students with financial need’ according to the information on the OSAP website.

The amount of the aid will be important to you as well, but not all Canada bursaries will list their award amounts. In these cases, it is an indication that the award amount will not exceed your financial need after all other sources of funding have been accounted for. Remember that some portion of your Ontario bursary may have to be repaid, and interest may be charged. Some bursaries must be repaid in full with interest, but this is not the same as a student loan, because you must meet certain eligibility requirements for a Candian bursary.

You need to pay attention to the information concerning how the Canada bursary is applied for as well. In most cases, you will apply for Canada bursaries through your financial aid office, but a few bursaries can be applied for through OSAP as well. This does not mean that OSAP or your financial aid office makes the final decisions concerning who will and will not get a Canadian bursary. You must also give special consideration to the documents that are required. Some documents will be required at the time your application is submitted, while others will be required later.

Canadian bursaries are available through the provincial government and the federal government, as well as through private organizations and corporations. Each Canada bursary will have its own requirements and deadlines. Ontario bursaries are generally to be used only at Ontario colleges, but some can be used in other colleges as well. Along with certain eligibility requirements, most bursaries in Canada will also have terms and conditions that must be met while you are attending school, and possibly after you finish school.

Those Canada bursaries offered by the government can be applied for through your financial aid office or OSAP, but outside Canadian bursaries must be applied for differently. You can usually obtain information about those bursaries through your financial aid office. You should definitely check with trade organizations that represent the field that you will be studying for to find Canada bursary opportunities as well. All bursaries are awarded based on financial need, regardless of where they are obtained.

For more information, or to apply for certain Ontario bursaries, visit OSAP at: Ontario bursaries and fill out the OSAP application form. You will then be notified as to which Ontario bursaries and scholarships that are administered by OSAP that you may be eligible for, and instructed to fill out those applications, if separate applications for those Ontario bursaries are required.

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