Minister John Milloy Visits FanshaweMaking It Easier to Apply for a Student Loan

John Milloy, Ontario's Minister of Training, Colleges and Universities, visited Fanshawe College on August 23, 2010 to announce changes designed to simplify student financial assistance.

Minister John Milloy, sixth from left, visited Fanshawe to announce student assistance changes. The Minister of Training, Colleges and Universities met with Fanshawe student media and the Fanshawe Student Union executive as well as College staff.

Starting this year, college and university students will spend less time filling out loan and grant applications and standing in back-to-school line-ups. They will also receive their financial support faster.

"Our government is committed to making postsecondary education accessible on the basis of ability to learn, not ability to pay. That's why we continue to invest in student aid and to make it easier for students to get the financial help they need," Milloy said.

The province is streamlining student aid by making the application process easier and cutting red tape. This will help students focus more on their studies. Changes to the process this year mean:

• Students will fill out fewer forms for the Ontario Student Assistance Program (OSAP) and Student Access Guarantee (SAG) funds;
• When they complete their OSAP application, they will also be automatically evaluated for SAG funding;
• Recipients of the Ontario Access Grant and Distance Grant will have their aid directly deposited into their bank accounts starting in January 2011.

Additional changes taking effect this school year will benefit students by:

• Providing more assistance for tuition, living costs, books, supplies and equipment;
• Allowing students to keep more of the money they earn from part-time jobs;
• Providing a no-interest no-payment period on student loans for six months after graduation;
• Providing additional support for married students and students with children;
• Introducing a new grant for part-time students;
• Offering students more flexibility on repayment.

The McGuinty government's Open Ontario plan is helping build a highly skilled and educated workforce, giving Ontario the competitive edge in securing a strong economy for the future.