At Mohawk, we believe every student deserves a world-class education. We also believe that everyone should have the opportunity to earn a college education and that our college must be within reach of students who have unlimited potential yet limited means.
When it comes to paying for your education, investing in your future can be more affordable than you think. A Mohawk education is one of the most cost-effective means of acquiring the skills and knowledge you need to have a prosperous and rewarding career.
As you start on your chosen career path, it's important to have a realistic set of expectations regarding the expenses associated with attending college. In addition to your tuition fees, you will also need to budget for books, supplies, housing, and other related living expenses. You may be able to supplement your income and savings with scholarships, bursaries, or loans. It pays to do some research into what types of financial assistance you may qualify for.
We have always offered affordable education, giving students access to more than $3 million in Mohawk College bursaries, and Ministry-partnered bursaries and scholarships to help meet our student’s financial needs.
Recognizing that students need support to understand their financial situations and manage their money, Mohawk launched the Mo’ Money Resource Centre. Our initiative was to compile the best money management resources for students, providing them with tools to graduate with less debt and learn lifelong money management skills.
Students can learn how to read a credit card statement, develop a budget, and build a credit rating. Mo’ Money also offers students ‘how-to’ events, programs, budget assistance, and receive personalized one-to-one credit counselling.
Once you're ready to take charge of your finances, put your skills to the test by completing our free, online Money Matters course to gain the knowledge and confidence to make a lifetime of smart financial decisions.
In the Fall 2019 and Winter 2020 semesters, over 8,100 Mohawk students received more than 66 million dollars in OSAP funding. 56% of that overall financial support was in the form of non-payable grants.
For the 2020-21 school year, OSAP will:
- Continue to provide grants to students with the greatest financial need;
- Double the Canada Student Grants for all eligible full-time students to up to $6,000 and up to $3,600 for part-time students in 2020-21. The Canada Student Grants for Students with Permanent Disabilities and Students with Dependents would also be doubled.
- Broaden eligibility for student financial assistance by removing the expected student’s and spouse’s contributions in 2020-21, in recognition that many students and families will struggle to save for school this year.
- Enhance the Canada Student Loans Program by raising the maximum weekly amount that can be provided to a student in 2020-21 from $210 to $350.
- Increase existing distinctions-based support for First Nations, Inuit, and Métis Nation students pursuing post-secondary education by providing an additional $75.2 million in 2020-21.
- Suspension of student loan repayments - both the Government of Canada and the Government of Ontario have announced that student loan repayments have been suspended from March 30–September 30, 2020, and that interest will not be charged on student loans during this time.
- Maintain the current $25,000 annual income threshold for the Repayment Assistance Plan, ensuring that students can get on their feet after school before they need to start repaying their loan;
- About 80 percent of all OSAP recipients are expected to graduate with less provincial debt.
- Adult education offered by school boards provides opportunities for adults to return to complete their high school diploma and/or to complete specific courses required for entry into postsecondary education institutions and apprenticeship programs.
- Visit the OSAP page to learn more and try the OSAP calculator.
Additional Government Resources
Canada Emergency Student Benefit supports students and new grads affected by COVID-19. This benefit would provide $1,250 per month for eligible students or $1,750 per month for eligible students with dependents or disabilities. The benefit would be available from May to August 2020.
Canada Student Service Grant will help students gain valuable work experience and skills while they help their communities during the COVID 19 pandemic. For students who choose to do national service and serve their communities, the new Canada Student Service Grant will provide up to $5,000 for their education in the fall.
A temporary rule change for international student employees: the government will remove the restriction that allows international students to work a maximum of 20 hours per week while classes are in session, provided they are working in an essential service or function, such as health care, critical infrastructure, or the supply of food or other critical goods. This temporary rule change will be in place until August 31, 2020
Tuition Reduction: The government's 10% tuition reduction for 2019-20 will freeze tuition fees until the 2020-21 school year.