The Ontario government is introducing several changes to make paying tuition less stressful for students.
Starting next year, universities will not be allowed to ask students to pay their tuition before the beginning of August. Students will also be able to pay their tuition in per-term installments without being charged for interest and deferral fees.
Prior to the creation of this new structure, deadlines for payment varied between universities. Also, students who complete their Ontario Student Assistance Program applications by the beginning
of August won’t have to pay their tuition before receiving their funds.
Lastly, tuition deposits will be capped at the greater of $500 or 10 per cent of the tuition total. The deposit will now count as part of the tuition fees. Currently, York students only pay $350 as a tuition deposit.
“The government’s new policy created consistency and fairness across the sector,” says Michelle Johnston, the legislative assistant and issues manager for the Ministry of Training, Colleges, and Universities. “The new tuition framework will save students $700 million over four years — or over $1,200 per student — compared to the current framework.”
Johnston says the purpose of these changes is to help students in Ontario with paying their tuition, as well as making it more accessible.
“The government is increasing fairness and affordability for students and their families while providing institutions with the long-term financial stability needed to provide a high-quality education for our students,” says Johnston.
“The government will also continue to ensure that students have access to higher education based on ability to learn, not ability to pay.”
By fall of 2014, this new billing policy will be put into effect at all colleges and
