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 2021-22 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 2021-22 and 2022-23. The Canada Student Grants for Students with Permanent Disabilities and Students with Dependents will also remain doubled to $4000 per year (from $2000 in 2019-20).
- Canada Student Loans will remain interest-free until March 31, 2023.
- As announced in the 2020 Ontario Budget, the province is investing $59.5 million over the next three years to further establish micro-credentials as a key component of Ontario’s internationally recognized post-secondary sector.
- As additional micro-credentials are developed, the Ontario government will review them to determine if they should be eligible for financial assistance through OSAP.
- 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;
- 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
COVID-19 Support for people: Learn what financial, mental health and other supports are available during COVID-19
Canada’s COVID-19 Economic Response Plan
Tuition Freeze: The current one-year tuition freeze for colleges and universities will be extended by an additional year onto 2021-2022.