Does OSAP Cover Residence Fees? Exploring Financial Aid for Student Housing

Whether OSAP covers the cost of residence is highly circumstantial.

They do provide funds for ‘Travel and living allowances’ however how much you receive will depend on your individual and family circumstances.

For the purpose of this article, we’ll assume you qualify for the maximum amount of funding that OSAP will give you.

Your estimate will look something like this:

Tuition and education costs (estimated)

Tuition: $6,100

Compulsory fees: $2,031

Books, supplies and other costs: $1,681

Travel and living allowances: $11,875

Total estimated costs: $21,687

In most cases, your Tuition, Compulsory Fees and Residence Fees will go directly to the post secondary institution you will be planning to attend.

The balance will be deposited to your bank account, allowing you to determine how best to use the funds.

Residence Fees vary widely based on post-secondary institution, single/double/triple occupancy of a room and various other factors.

In many cases the amount you receive may not be enough to cover your full Residence Fees.

How Much Does OSAP Cover?

OSAP is intended to supplement your educational costs, not cover all of them. Here’s a table of the weekly maximum amounts that OSAP covers for students in 2023/2024:

If you are enrolled full-time at: Single student with no dependents: Student who is married, in a common-law relationship, or a sole support parent:
A Public College or University in Ontario $510/Week $825/Week
An Approved Private Postsecondary School in Ontario $510/Week $825/Week
A Public College or University in Another Canadian Province $510/Week $825/Week
A Private Postsecondary School in Another Canadian Province $300/Week $300/Week
A Private or Public Postsecondary School Outside of Canada $300/Week $300/Week

What Should I do if OSAP Doesn’t Cover All My Expenses?

For many students, OSAP funding might not be enough to cover the cost of tuition, books, supplies, and residency.

Students in Ontario must understand that there are alternative ways of receiving funds to pay for their post-secondary education.

These include Federal student loans, grants, and even getting a part-time job while completing your studies.

Depending on your financial status, you could also be eligible for a bursary called the Ontario Student Access Guarantee.

You will have to qualify for your school’s OSAG eligibility but it is an additional financial aid instrument for Ontario students.

Students moving into residence for start of new semester

Frequently asked questions

  • Does OSAP Cover Residence in Ontario?
  • Can I Spend OSAP on Anything?
  • No, OSAP is only to be used to pay for educational expenses. In Ontario, these include things like tuition, residence, textbooks and equipment like a computer. Note that living expenses are only covered by OSAP for full-time students.

  • Can I get OSAP if I Live With My Parents?
  • Yes, contrary to what you might think, OSAP is available to post-secondary Ontario students who live with their parents. Your parents must provide their financial information and you must still qualify for OSAP as a student that is in need of financial assistance.

  • What Happens to Leftover OSAP Money?
  • If you have leftover OSAP money that you do not need to use on any financial expenses, then the balance will be deposited into your personal bank account. If you do need to pay for residence, it is likely that you will not have much of your OSAP left over.

Baggio Ma

Baggio has been investing for nearly a decade, using the perspectives gained from his work experience in the private, public, and non-profit sectors to shape his investment outlook. He has a specific interest in the potential of emerging disruptive technologies and their impact on the future.