Financing your education

Which type of financial assistance does NOT have to be repaid?

• OSAP

• Line of credit from a bank

• Scholarship

The time between when you graduate and when you must begin repayment of student loans, is called:

• Late penalty period

• Grace period

• No late penalty period

Anyone is eligible for OSAP

• TRUE

• FALSE

What is the savings account that some parents have to save for their child's post-secondary education?

• RRSP

• RSSP

• RPSP

• RESP

How long is the GRACE PERIOD before having to pay back OSAP after graduation?

• 6 months

• 1 year

• 2 years

• 3 years

Scholarships are only given for getting high grades

• TRUE

• FALSE

Financial aid that you do NOT have to pay back and is based on financial needs of students, is called: (check off 2)

• OSAP

• Scholarship

• Grants

• Bursaries

Where does most financial support come from for post-secondary students?

• Bank loan

• Family

• OSAP

• Scholarship

Who is not eligible for OSAP?

• An Ontario resident

• A student pursuing a diploma, certificate, or degree

• A student with financial need

• An international student

What is the average debt of Canadian students after graduating?

• $26,000

• $16,000

• $36,000

• $6,000