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Financial Aid

Government Assistance

The Ontario Student Assistance Program (OSAP) is a government financial aid program that assists eligible Ontario residents attending university through a combination of loans and grants. Visit the OSAP website to find out more and to apply for OSAP today: www.ontario.ca/osap

Students who are Canadian citizens, permanent residents, or protected persons may be eligible for financial assistance from their provincial or territorial governments. Applications are usually available in late May or early June.

Provincial Student Loan Programs, US Government Loans
OSAP FAQs
Fee Deferrals
Student Loan Repayment webinars - provided by the National Student Loans Service Centre.

The University of Toronto is an approved institution for the administration of subsidized and unsubsidized US Direct Loans and PLUS Direct Loans, according to the Higher Education Act, Title IV.  Yearly loan amounts are listed in the U.S Department of Education resource publication, 2017-18 Do You Need Money for College? The Guide to Federal Student Aid. For more information, please visit Enrolment Services.

 

Lines of Credit

Most lending institutions offer lines of credit to students. Generally you can borrow between $5,000 to $10,000 a year, with interest payments required each month and repayment starting six months after completing your studies. Contact your lending institution for more details. U of T Financial Counsellors are also available to discuss your options.

Students who began their program in 2017-18 or later also have the option of borrowing funds from Scotiabank through the ScotiaLine for Students (ScotiaLine) with a preferred interest rate of Prime + 1%. 

Students interested in the lending products offered by Scotiabank should contact the Queen and McCaul Branch, Georgios Stathopoulos at georgios.stathopoulos@scotiabank.com or 416-866-3940 ext. 4209 to set up an appointment.

Note:  University of Toronto students are not required to use Scotiabank as a lender.  Students are free to pursue funding options at the financial institution of their choice.

Full-time students who began their program in 2017-18 or later and receive the maximum amount of government financial aid available, but whose funding doesn’t cover all university costs, are eligible to apply for the Professional Masters Financial Aid program with proof of a line of credit. This program is intended to cover the approximate costs of the interest charges ($2,000) for the year. Students may apply for the program annually during their studies, effectively covering all interest charges during their degree.  

    UTAPS

    University of Toronto Advanced Planning for Students 
    For students who began their program in 2016-17 or earlier.

    Grants & Emergency Funding

    Browse University of Toronto Grants
    Accessibility Awards & Financial Resources
    Financial Aid through First Nations House
    Family Care Office
    GSU
    Awards & Scholarships

    In addition to the opportunities listed above, full-time graduate students experiencing financial difficulties beyond their control may apply for limited grant assistance through the Daniels Faculty and, in emergencies, the School of Graduate Studies.

    Daniels Financial Aid

    Please Read Carefully Before Completing Your Application(s)

    The Daniels Faculty provides financial assistance to graduate students through a combination of grants and awards. Grants do not replace government funding, UTAPS (if applicable), or University-negotiated loans; the grants help to alleviate temporary financial setbacks, subsidize studio travel, or cover interest payments for ScotiaLine for Students (first year students only).

    If you are not eligible for OSAP, you may still apply for some Faculty grants; however, please keep in mind that resources are limited. 

    Professional Masters Financial Aid (PMFA)

    Deadline to Apply:

    Fall 2018
    November 1, 2018*
    Winter 2019
    March 1, 2019*

    This program is intended to cover the approximate costs of the interest charges ($2,000) on a Student Line of Credit for the year. Students may apply for the program annually during their studies, effectively covering all interest charges during their degree.  

    Eligibility:

    • Full-time Daniels Graduate students who began their program in 2017-18 or later and;
    • are currently registered and;
    • who received the maximum amount of government financial aid available, but whose funding doesn’t cover all university costs and;
    • *has completed either an OSAP application or the Out-of-Province Financial Aid application (when available) and;
    • provide proof of a line of credit.

    For all eligible students, this application must be completed prior to submitting an application for a Graduate Grant.

    Application:

    Professional Masters Financial Aid Application

    When completing a grant application it is important that we get a complete picture of your current financial situation. If you have special circumstances that you would like us to consider, please provide an explanation in the space provided on the form. The forms will automatically calculate allowable living expenses based on OSAP considerations as well as specific adjustments for Daniels students.

    • When completing the online form, you must indicate:
      • All scholarships
      • Total OSAP (or other provincial student loan), (fall and spring amounts + scholarships etc.)
      • ScotiaLine for Students Line of Credit total for the year
    • If you have any large expenditures other than tuition, books, and rent, were unable to save a substantial portion of your summer income, or did not work during the past summer, please explain why.
    • If you are a dependent and your parents are not providing support, please explain the reasons.
    • If you feel that there is something that you can only explain in person, please call 416-946-3897 or stop by the Office of the Registrar and Student Services to book an appointment.

    Decision:

    Decisions will be sent to your e-mail address on ACORN in late November for the fall and late March for the winter. You should ensure that your e-mail is up-to-date. Please see the University’s policy on official correspondence with students at www.acorn.utoronto.ca/policy.php. You are strongly encouraged to update ACORN with direct deposit information in the Profile & Settings section.

    Graduate Grant

    Deadline to Apply:

    Fall 2018
    November 1, 2018
    Winter 2019
    March 1, 2019

    This application is for all students experiencing financial difficulties who have exhausted all other financial resources. If this is an emergency grant request, you must email awards@daniels.utoronto.ca following your submission of the application form.

    Eligibility:

    • Full-time Daniels graduate students who;
    • are currently registered and;
    • who have reviewed all financial options (government, financial institutions, family, friends, personal assets, etc.), applied where appropriate, and reviewed their personal monthly budget.

    All students eligible for the Professional Masters Financial Aid (PMFA) program must complete the PMFA application prior to submitting an application for a Graduate Grant.

    Application:

    Graduate Grant Application

    When completing a grant application it is important that we get a complete picture of your current financial situation. If you have special circumstances that you would like us to consider, please provide an explanation in the space provided on the form. The forms will automatically calculate allowable living expenses based on OSAP considerations as well as specific adjustments for Daniels students.

    • When completing the online form, you must indicate:
      • All scholarships
      • Total OSAP (or other provincial student loan), (fall and spring amounts + scholarships etc.)
      • UTAPS award (if applicable)
      • ScotiaLine for Students Line of Credit total for the year
      • Professional Masters Financial Aid
    • If you have any large expenditures other than tuition, books, and rent, were unable to save a substantial portion of your summer income, or did not work during the past summer, please explain why.
    • If you are a dependent and your parents are not providing support, please explain the reasons.
    • All applicants will be booked a meeting with the Assistant Registrar, Financial Aid, within two weeks of submitting the online form to review the submission and clarify any further relevant information.

    Decision:

    Decisions will be sent to your e-mail address on ACORN in late November for the fall and late March for the winter. You should ensure that your e-mail is up-to-date. Please see the University’s policy on official correspondence with students at www.acorn.utoronto.ca/policy.php. You are strongly encouraged to update ACORN with direct deposit information in the Profile & Settings section.

    Graduate Travel Grant

    Deadline to Apply:

    Summer 2018
    June 22, 2018  
    Fall 2018
    November 1, 2018
    Winter 2019
    March 1, 2019

    This application may be used to subsidize the costs of completed or anticipated course travel. In cases of anticipated travel, please provide your best estimates of the cost. Receipts will be required upon completion of travel and failure to provide receipts and proof of travel will result in forfeiture of grant.

    Eligibility:

    • Full-time Daniels graduate students who;
    • are currently registered and;
    • who are travelling during the term as part of a course for which they are enrolled.

    Application:

    Graduate Travel Grant Application

    A detailed expense report is required as part of your application. The expense report, attached to the online form, should categorize your travel receipts in the following manner:

    1. Transportation Costs
    2. Accommodation Costs
    3. Food Costs
    4. Other

    Each item should include a receipt number, description of item(s), company name, and charge.

    Each category of costs should be tallied up and an overall total should be included at the end of the report. Copies of your receipts should be photocopied/scanned on one sheet as much as possible and they should be placed in the same order that they appear in the expense report. Please contact the Office of the Registrar and Student Services if you require any assistance compiling your report as this application will not be accepted if completed incorrectly.

    Decision:

    Decisions will be sent to your e-mail address on ACORN in late June for the summer, late November for the fall, and late March for the winter. The decision may not be issued until after travel is completed and students are expected to plan for alternative funding to pay for their travel. You should ensure that your e-mail is up-to-date. Please see the University’s policy on official correspondence with students at www.acorn.utoronto.ca/policy.php. You are strongly encouraged to update ACORN with direct deposit information in the Profile & Settings section.

    SGS Grants, Bursaries & Emergency Funding

    SGS Grants, Bursaries & Emergency Funding

    Emergency funding is available through the School of Graduate Studies in the form of a loan or grant. The SGS Emergency Grant program aims to assist currently registered, full-time graduate students who encounter an unanticipated serious financial emergency. The SGS Emergency Loan alleviates temporary cash flow problems for students who are expecting the release of funds in the near future (i.e., 30 to 120 days) from employment, a major award instalment, OSAP (Ontario Students' Assistance Program), teaching assistantship, or research assistantship payment, etc.

    Financial Aid Counselling

    To speak with a financial aid counsellor, or to learn about programs and services designed to help graduate students at the University of Toronto, please visit the SGS financial aid website. The Daniels Faculty also provides financial counselling by appointment or on Wednesdays between 2 & 4pm.

    Financial Planning Calculator

    Budget Your Year at U of T

    This calculator will show you how much money you will need to cover tuition and fees, housing costs, food and everything else for the upcoming academic year. You'll provide some background and income information, and we'll show you a budget summary and direct you to some useful resources to help you save money.

    Employment Opportunities

    Work Study Program
    Teaching Assistantships
    Chief Presiding Officers

    A Career Educator, Diana Kudla Byers is available to meet with Daniels students to assist with a variety of services and resources including career guidance, summer employment information, or advice on how to prepare for life after graduation.

    Career Exploration & Education
    Career Learning Network

    Award Opportunities

    Graduate awards can significantly reduce the financial costs of your graduate degree. Daniels students are automatically considered for most Faculty-specific in-course and graduating scholarships and are emailed regarding application-based opportunities on a regular basis. For more details, visit Graduate Awards.

    The Daniels Faculty also lists open external competitions in the weekly Newsletter. We encourage students to sign up by entering their email address at the bottom of this page.