Financial Aid

You will be invoiced tuition and fees in the Fall and Winter sessions (no fees are charged in the summer session). It is critical to plan your finances carefully. As a professional masters’ student, you are ineligible for the typical funding package associated with a research student, nor are you eligible for University of Toronto Advanced Planning (UTAPS).

For information on fees, invoices, payments, and refunds visit the Student Accounts website
Questions regarding student loans should be directed to osap.staff@utoronto.ca for students receiving OSAP, or can.oop@utoronto.ca for out-of-province students.

Key Points

You have access to confidential financial counselling from SGS and Enrolment Services. Reach out if you have any questions or need help budgeting.
Apply for student loans early so your student loans are approved before you need to register. If approved, you can defer your minimum payment.
To register, you need to either make the minimum payment listed on your invoice, or defer the payment before the registration deadline. If you miss the deadline, you will need to visit SGS with proof of payment and pay a late fee.
Apply for a line of credit once you have registered.
Make tuition and fee payments by the deadlines to avoid being charged interest.

You should apply for all funding for which you are eligible as soon as you apply to the program and you should continue to look for funding once you’re enrolled.

The main types of financial resources include:

Loan Programs: repayable funding that requires an application.
Scholarships and Awards: non-repayable funding that often require high levels of academic merit and may require an application.
Bursaries and Grants: non-repayable funding based on financial need that requires an application.
Paid Work Positions: physical therapy students often work a maximum average of 15 hours per week of paid work.

Financial Timelines & Tips

September

If you applied for student loans, submit your Master Student Financial Assistance Agreement (MSFAA) so that your funding can be released.
Some or all of your first installment of funding may be sent to the University to be applied directly to outstanding and fees.
If you had OSAP in the past but you are not receiving OSAP this year, complete the Continuation of Interest Free Status/Confirmation of Enrolment form so that your loans remain interest free while you are registered as a full-time student.
Apply for a line of credit if you haven’t already. If your application is unsuccessful, retain a copy of this notification.
Pay remaining fall tuition and fees to avoid interest charges.

October

Confirm your income for OSAP so your second installment can be released.
If you are receiving provincial student loans other than OSAP, complete the Out-of-Province Financial Aid Application Form by mid-October. All students from outside of Ontario must do this to be considered for bursary funding.

November

Submit your fall bursary application.
If you are not receiving OSAP, pay winter tuition and fees to avoid interest charges.

January

If you are receiving OSAP, pay winter tuition and fees to avoid interest charges.

February

Login to ACORN to view/print your T2202A education tax credit form from the University of Toronto for income tax purposes.
If fees are paid or deferred after the SGS deadline, the income tax receipt for that academic year will be affected, as tax credit for that month will be lost.

May

Submit your summer bursary application.

June

Apply for student loans for next year.