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____ Thursday March 12, 2015 ____

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Education

Ontario Providing Financial Assistance to Former Everest College Students

Financial Aid Helps Cover Students’ Training Costs or Refunds

Queena Park - Ontario is providing up to $7.6 million to help students affected by the closure of Everest College. This is in addition to the $3 million now available through the Training Completion Assurance Fund that was posted by Everest College. “Our government’s number one priority throughout this process has been the well-being of affected students. The Superintendent, supported by ministry staff, has been working hard to arrange training completion opportunities at nearby institutions. We know that students just want to get back to their studies and they can be reassured that this special, non-repayable grant will help cover the costs associated with their new training opportunity," said Reza Moridi, Minister of Training, Colleges and Universities.

The provincial government is providing funding to ensure that every student has the option to complete their training at a nearby institution without having to pay additional tuition. If completing their training is not an option, or students choose not to complete their training, they will receive a refund.

Ontario is also limiting student debt by ensuring that the Ontario Student Opportunity Grant is available to all eligible Everest students, including those who choose to apply for a refund. OSAP debt will be limited to $7,300 for a two term academic year, or $10,950 for three terms, regardless of how much was borrowed.

The Superintendent of Private Career Colleges and the Ministry of Training Colleges and Universities have reviewed the files of nearly 2,700 Everest students, to assess each student’s options for training completion or a refund. Alternate training options have been identified for 86 per cent of students and there is ongoing work to identify options for the remaining 14 per cent. Students who have not submitted their claims are encouraged to do so as soon as possible. The Superintendent will start sending out option packages to students on March 11, 2015.

Helping students with the costs of postsecondary education supports the government’s economic plan for Ontario. The four-part plan is building Ontario up by investing in people’s talents and skills, building new public infrastructure like roads and transit, creating a dynamic, supportive environment where business thrives and building a secure savings plan so everyone can afford to retire.


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