Don’t let a lack of financial assistance stop you from pursuing your dream career. CMU college administrators and staff are happy to answer any of your financial assistance related questions. Our payment schedules are designed to help students organize their finances in order to have all payments taken care of by their start date.
Types of Financial Aid for College
There may be several options for financial aid available to you as a CMU student, including a federal loan, a student line of credit, scholarships, grants, or OSAP. Canadian students from outside of Ontario also may qualify for support from funding programs in their home province.
Applying for financial aid in college is easier than you may think. Students are often discouraged in the application process, unsure of how they are going to cover the full expenses associated with certain programs. If that sounds like you, contact CMU Admissions to learn how simple it can be to access financial assistance for college.
CMU will do everything it can to provide information on any financial assistance programs that may be available in order to make your education journey with us possible. We can assess your unique situation, providing recommendations on what next steps to take.
Student Line of Credit
Many banks offer a student line of credit that provides financial aid for private college at a lower interest rate than most credit cards. A student line of credit is a personal loan designed to assist students with funding their post-secondary education.
Unlike grants, a student line of credit is a form of financial assistance that needs to be returned. It is, however, more advantageous than other forms of borrowing money, as the interest rate and terms tend to be more favourable to you. Common expenses that are paid with a student line of credit include tuition, textbooks, and transportation. It also covers other necessities of day-to-day college living, such as food.
OSAP for Private College
The Ontario Student Assistance Program (OSAP) is a mix of grants and loans to help you pay for your post-secondary studies. OSAP for private college is available to Ontario residents enrolled in any of our diploma programs. To apply for OSAP or to find out how much financial aid you qualify for, please visit OSAP’s website.
You are eligible to apply for OSAP if you are a Canadian citizen, permanent resident or protected person. OSAP is designed to supplement (not replace) your income, your family’s income or other financial resources. You can apply for OSAP at the same time as you apply for your diploma program at CMU College.
All of our diploma programs are OSAP-eligible, while the certificate programs are not OSAP-eligible. It is important to start your OSAP application early. The sooner you apply, the sooner you can find out how much financial aid you may be able to get. This allows you to sort out all the documentation required for your funding in a timely manner.
For further information, please check OSAP website and visit these links:
For more information about applying for OSAP or other student loans, please contact Admissions at [email protected] or call us at 416-968-6739 ext. 24, toll free within North America at 800-341-7912 or book an online meeting with Admissions.
