Financial Aid
Supporting your investment in education.
We understand that pursuing your education is a significant investment in your future. At Ontario Institute of Health and Innovation, we are committed to helping you find the financial support to achieve your career goals. Whether you’re exploring government funding options, scholarships or student loans, there are various resources available to make your education more affordable. Our Financial Aid department is here to guide you through the process and help you understand the options that best suit your individual needs.
1. Ontario Student Assistance Program (OSAP)
OSAP offers financial support in the form of grants and loans for eligible Ontario students attending private career colleges.
- Eligibility: students enrolled in OSAP-approved programs who are Canadian citizens, permanent residents or protected persons and who meet Ontario residency requirements.
- Types of funding:
- Grants:
- Loans: repayable funds with interest
- How to apply: visit OSAP’s How to Apply page.
2. Better Jobs Ontario
Better Jobs Ontario (formerly the Second Career program) is a government initiative to help laid-off workers get retraining at approved institutions, including career colleges.
- Eligibility: laid-off, unemployed (6 months or longer) or underemployed workers
- Coverage: up to $28,000 for tuition, books and living expenses
- How to apply: contact Employment Ontario or visit Better Jobs Ontario.
3. Lifelong Learning Plan (LLP)
The LLP allows students to withdraw funds from their registered retirement savings plans (RRSP) to finance education without tax penalties.
- Eligibility: Canadian residents enrolled in full-time training programs.
- Withdrawal limit: up to $10,000 per year ($20,000 total)
- Repayment: must repay within 10 years.
- How to apply: use the LLP application form available on the Canada Revenue Agency website.
4. Registered Education Savings Plan (RESP)
A RESP allows parents or guardians to save for a child’s education after high school, which can be used to cover tuition and other expenses. An adult can also open an RESP for themselves.
- Eligibility: funds saved in a RESP are available for use at career colleges.
- Additional grants: the Canadian government provides matching contributions through the Canada Education Savings Grant (CESG).
- How to apply: contact your financial institution to withdraw RESP funds.
5. Scholarships and Bursaries
As a student at Ontario Institute of Health and Innovation, you may be eligible for a scholarship or bursary. Please contact us at financialaid@oihi.ca for more information.
6. Student Lines of Credit
Banks and credit unions offer student lines of credit specifically designed to help students pay for tuition and living expenses.
- Eligibility: based on credit score and financial standing
- Features: flexible repayment, interest-only payments during studies
- How to apply: contact your financial institution to inquire about student lines of credit.
7. Workplace Safety and Insurance Board (WISB)
You may be eligible for WSIB sponsorship if you are WSIB recipient or surviving spouse. Speak with your WSIB case manager or visit the WSIB Sponsorship page for more details.
8. First Nations (Indigenous Students)
This program supports First Nations students in their development of comprehensive, integrated, First Nations regional post-secondary education models that will be accessible to all status First Nations people (registered Indians).
- Eligibility: First Nations students who want to pursue post-secondary studies and access available funding programs
- Features: Funding is limited and not all students may be funded. Partial funding may be provided. Applications are valid for one school year only.
- How to apply: Interested applicants should contact their ISC regional office
Financial Aid Support
Our Financial Aid department is available to guide you through the various funding options and help you understand which programs you may be eligible for.