Metro college > Student services > Financial Aid

Financial Aid

There are different financial assistances programs and agencies available to students if you are a Canadian citizen, a permanent resident, or even a refugee and meet certain requirements. These assistance programs can take a form of OSDEB, Social Assistance, ODSP, or WSIB….  Among them the most important assistance is OSDEB, Ontario Skill Development Employment Benefits.

Objective of the program:  To assist individuals who received or are receiving EI benefits to prepare for, obtain and maintain employment.

Qualifications:
In order to be qualified for the SDEB financial assistance, you must meet the following criteria:

1. You are a current EI recipient, have received EI benefits in the last three years, or have received maternity leave benefits in the last five years
2. You are unemployed or under-employed
3. Your English level meets ESL 5 or LINC 5 or above
4. You cannot find a job because you don’t have sufficient knowledge and skills in your field
5. You can prove that you are in need of financial assistance from the government for your training

General procedures for the financial assistance application:

1. Preparation.  You need a copy of your resume and job search record including job postings to be ready for submission
2. Orientation.  You need to make an appointment with an employment assessment centre and meet your employment advisor to evaluate your qualifications for training funding
3. Job market research, training school research and a completed financial assistance application form will be needed following a successful interview with your employment advisor
4. Submit your application and wait for final approval

Financial assistance will cover tuition, material fees and living allowance. You may be qualified for daycare and transportation fees as well. The advantage of the program is that it is not classified as a loan, meaning that there is no payback requirement.

It provides a great opportunity to acquire the knowledge and skills needed to secure employment in your professional field. However, a number of applicants have been denied financial aid due to a lack of understanding and proper information required for the application process. In order to better familiarize yourself with the program, you are welcome to set up a free appointment with our admission advisor to pre-assess your qualifications.

In addition, there are other training funding programs offered by the government such as Social Assistance, ODSP and WSIB. You must meet specific requirements to acquire funding for your training if you are receiving one of these benefit or compensation packages. You will also be obliged to follow similar application procedures.

Student Bank Loan
A student bank loan is a very practical solution to training funding need. Student bank loans are available to those who have established good credit history, are employed part-time and have a co-signer. Student bank loan applications are less time consuming and banks offer low interest rates on student loans.

For more information, you are welcome to contact Metro College of Technology at 416 585 2099.

Second Career Strategy is a program that assists eligible participants to obtain skills for a second career through a training program from a college. It provides financial assistance up to $28000 to cover the tuition cost, book fee, living allowance and related expenses of the training. For more information, please proceed to Second Career at Metro College.