Osap Interest Rate 2017

The overall 2017 rates for ontario postsecondary institutions are as follows.

Osap interest rate 2017. Interest on the provincial portion of osap loans now begins to accrue as soon as students leave full time studies. Prime rate is currently 2 7 canada student loan. 2017 average historical monthly interest rates. You get a 6 month grace period where you will not be charged interest on the federal portion but you will be charged for interest on the provincial portion of your loans during this period.

Osap funding consists of the canada student loan and the ontario student loan. Average rate is currently 2 75. What is the interest rate. The fixed interest rate will be reduced to prime plus two per cent from the current prime plus five per cent.

Choose from the months below to view the average interest rates on u s. If you can start making repayments during your grace period or even while you re still in school to save some interest. Régime d aide financière aux étudiantes et étudiants de l ontario rafeo is a provincial financial aid program that offers grants and loans to help ontario students pay for their post secondary education. Osap determines the amount of money that a student is eligible to receive by considering factors such as tuition course load and.

The ontario student assistance program osap french. Most students have both. Treasury securities for the 2017 calendar year. Prime plus 2 5 option exists for fixed rate at prime 5 seek advice.

The interest rates on your first payment date are used to figure out the monthly payment for your loan. Your monthly payment will stay the same even if interest rates change. Institutional default rates are calculated using the last institution and program the student attended in 2014 15 while receiving a canada ontario integrated student loan. Your osap loan is 60 federal and 40 provincial so during this initial grace period you will still owe significant interest to the provincial government.