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Financing
Tuition & Financing
The path to a great career starts here! Pay your tuition, register for your courses and start acquiring the skills and knowledge you need to begin a new career. Below are approved programs offered at OCMT along with applicable fees. Mandatory fees include costs of tuition and books for a specific program of study. Program fees differ depending on the program of study.
For more details, and updated information about the fees, and how you can finance your education with us, please contact our finance department at 4164446268 Ext. 9516 or by email finance@ocmtontario.ca.
Funding Options
Domestic Students
Student Line of Credit
In Ontario, there is a number of financial institutions and credit unions that offer students a line of credit and student loans. This financing is available to those who qualify. Our Finance department can assess your eligibility and guide you towards obtaining your funding. For more details, please contact our finance aid office at finance@ocmtontario.ca.
Registered Education Savings Plan (RESP)
If an RESP contribution has been saved up for you, you can claim it to pay for your post-secondary education. You can contact your respective financial institution or RESP promoter to find out how this can be arranged for you. You may also contact our finance aid office for further information about how you can transfer your RESP for funding your education.
More information on how to fund your education from your RESP is available at www.cra-arc.gc.ca
Lifelong Savings Plan (LLP)
Your LLP with the Canada Revenue Agency can be used towards your post-secondary education. You or your spouse or common-law partner can withdraw up to $10,000 annually, and up to the maximum of $20,000. For more information about LLP, visit www.cra-arc.gc.ca
International Students
OCMT EduFund Payment Plan
Our EduFund allows you to fund your tuition on a special arrangement by paying a minimum of 20% upfront then meet requisite terms and conditions to receive your non-conditional admission offer. This option allows you to be debt-free quicker and without having to start your journey in Canada with mounting debt.
Create a semester or monthly payment-plan with ease. Students must show a satisfactory evidence they can pay for future semesters.
Ontario Government Funding and Others
Ontario Government recognizes the need for over 26,000 PSW by 2026.
Domestic students with Canadian Citizenship/PR/Protected persons can access up to $25,400 in government support funding.
Domestic students in the above category may access funding through our partners – WINDMILL, ACHEV, Access Community, and several others.
Contact our Finance unit to discuss your financing needs.
Government Educational funding Initiatives
Canada Student Grants
Canada Student Grants provide money for college or university that you don’t need to pay back. It is easy to apply for them. These grants are given to students at the beginning and in the middle of the school year.
Canada Student Grants are available to students from most provinces and territories except those from the Northwest Territories, Nunavut and Quebec. These governments have their own programs.
When you apply for student financial assistance, your eligibility for most Canada Student Grants will automatically be assessed. You may be able to get more than one grant at a time.
For more information about the Student Grants, visit www.canlearn.ca
Better Jobs Ontario
The Ontario government through the Ministry of Training, Colleges and Universities has launched new educational funding for people who are laid off and are looking into in a career opportunity in Technology, Management, Business, Healthcare and others.
The Second Career strategy launched by the province provides opportunities for Ontarians to re-train themselves for a better career. It provides financial help up to $28,000, or more in some cases.
Are you qualified?
Those who qualify may have some or all of their training costs covered within the Second Career initiative. Find out if you are qualify by visiting www.secondcareerontario.com
You can also contact our Admin office at 416 444 6268 for further information and direction on how to apply.
For further information or how to apply,
please email our Finance Department
finance@ocmtontario.ca