Students claim victory in provincial student aid announcement

Acting directly on the recommendations of the Ontario Undergraduate Student Alliance (OUSA), the McGuinty government today announced an $81 million package of improvements to Ontario’s system of student financial aid that will increase the accessibility of higher education for those with the greatest need. The reforms touch on all aspects of the financial aid system, from fixing the need assessment formula, to increasing the amount of aid available, to enhancing the loan repayment process.

“These improvements represent a huge step forward for students in a time of fiscal restraint,” noted Rob Lanteigne, Vice President University Affairs for the Brock University Students’ Union, and Vice President Finance of OUSA. “Nearly 200,000 students relying on government aid will be receiving more of the support they require to finance their education, and build the knowledge economy of tomorrow for Ontario.”

In October, the Ontario Undergraduate Student Alliance presented a submission to the provincial government requesting a number of specific improvements to the financial aid system. This was followed up with pre-budget presentations, including one conducted by BUSU. Today’s announcement incorporates five of our key recommendations, including:
· Doubling the in-study income exemption, allowing students to earn $103 per week before OSAP awards become affected, up from $50 per week, and tying this increase to the rate of inflation
· Implementing a true interest-free grace period of six months after graduation before repayment of loans begins
· Increasing weekly loan limits to $150 per week, up from $140, and the first increase in four years
· Increasing the textbook, supply and equipment allowance to annual inflation
· Providing more support for students in difficulty with loan repayment by joining the more generous federal Repayment Assistance Program

Additional funding improvements reflect current OUSA policy recommendations, including the introduction of a part-time student grant, and doubling the vehicle exemption for married students, and students with dependents. The government also introduced 1000 new graduate scholarships, a topic falling outside the mandate of an undergraduate organization, but highly welcomed.

“Students appreciate that the government is addressing our concerns with financial assistance, and working with students to find solutions,” added Lianne Bradley, BUSU President. “Students will have access to a simpler aid process, reaching more students than before, and spanning into significant reforms post-graduation into their repayment process.”

Additionally, the government has announced a two-year continuation of the current tuition framework, which caps average tuition increases at five percent annually across institutions. Portions of this increase must be set aside for further financial aid for the neediest students.

“The continued regulation of tuition fees is promising and brings predictability to a student’s financial future,” commented Lanteigne. “However, Ontario students continue to pay the highest tuition levels in the country, and we look forward to continued dialogue with the provinces and the universities on ensuring a fair cost-sharing model.

Lanteigne, BUSU’s Vice President University Affairs, will be available for comment by e-mail at vpua@busu.net or by phone at 905-688-5550 x. 4198. For a copy of the OUSA submission Ontario: A Province of Knowledge, please visit www.ousa.ca.

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BUSU is a not-for-profit organization representing and working to improve the post-secondary education experience of students at Brock University.
For more information, please contact BUSU Vice President University Affairs, Rob Lanteigne, at 905 688-5550, or by e-mail at vpua@busu.net.