How to finance your education

A post-secondary education is a big investment. Fortunately, we at Medix have a dedicated team to assist students with financing their education. There are many payment options available to Medix students. A brief description of some financing options available is outlined below.  

Monthly Payment Plan

A monthly payment plan can be arranged through our business affairs department. Tuition and material costs are divided into monthly payments throughout your program.  Payments are interest free during your study period.

Ontario Student Assistance Program (OSAP)

OSAP is a program funded by the provincial and federal governments through the National Student Loans Service Centre. OSAP is a needs-based program. This means that it provides loans, grants, scholarships and bursaries. OSAP provides eligible Ontario students with financial assistance to help pay for their tuition, books, mandatory fees, living costs and transportation.

There are several different loans, grants, scholarships and bursaries administered by OSAP through a single application process. For more information, speak to a Medix School Business Affair Officer and visit www.osap.gov.on.ca 

Out of Province Students

Students from provinces outside of Ontario may also qualify for loans, scholarships, bursaries and grants administered by their provincial Student Financial Assistance Offices

Student Lines of Credit

Most major banks and credit unions offer student lines of credit to finance post secondary education. Please visit your financial institution to find out more information.

Lifelong Learning Plan

The Canada Revenue Agency Lifelong Learning Plan (LLP) allows you to withdraw amounts from your RRSPs to finance your education for you or your spouse (or common law partner). You may withdraw up to $10,000 per year, and up to a total maximum of $20,000.

For more information visit the Canada Revenue Agency website at:

www.cra-arc.gc.ca/tx/ndvdls/tpcs/rrsp-reer/llp-reep/menu-eng.html 

Registered Education Savings Plans

Students who have been named a beneficiary under a family members Registered Education Savings Plan (RESP), may use funds from the RESP to finance their education.  

Employment Ontario

The Ontario Ministry of Training, Colleges and Universities (MTCU) administers programs, such as Employment Ontario, to assist individuals who are unemployed or who have qualified for Employment Insurance. Students may qualify for postsecondary education financing through Employment Ontario or other programs managed by MTCU.

Medix School accepts the following methods of payment:

• pre-authorized bank withdrawl (for monthly payment plans)
• pre-authorized credit card payments (for monthly payment plans)
• Credit cards: Visa, MasterCard and American Express
• Debit cards (Interac direct payment)
• Cheques, money orders and cash

Do you Have a Financial Question? Please send us an email