Ontario To Provide Financial Assistance To Former Everest College Students
Wednesday March 11th, 2015
Posted at 12:59pm
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The Government of Ontario has announced they will be 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.
The funding is 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.
There is also a plan to limit 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% of students and there is ongoing work to identify options for the remaining 14%.
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 11th, 2015.