The tuition deposit was introduced by the Ministry of Advanced Education and Skills Development (MAESD), as part of a series of new measures designed to make paying college tuition easier and more affordable for students.
In the past, students were required to begin making payments towards their college tuition in June. Now, after paying a one-time tuition deposit, no further tuition payments are required until September, the same time OSAP support begins. This allows students to avoid paying fees to defer tuition payments, which don’t count towards tuition costs.
The tuition deposit also benefits the colleges by letting them know you’re committed to attending your program. This allows them to ensure that they have staffing and resources in place to effectively deliver the program.
To find out the exact deposit amount at the colleges you’re applying to, contact the colleges directly.