Everest College closure: Financial aid helps cover students’ training costs or refunds

ONTARIO is 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 provincial government is providing funding 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.

Ontario is also limiting 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 per cent of students and there is ongoing work to identify options for the remaining 14 per cent. 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 11, 2015.

Helping students with the costs of postsecondary education supports the government’s economic plan for Ontario. The four-part plan is building Ontario up by investing in people’s talents and skills, building new public infrastructure like roads and transit, creating a dynamic, supportive environment where business thrives and building a secure savings plan so everyone can afford to retire.


Quick Facts:

  • It is the role of Ontario’s Superintendent of Private Career Colleges, under the Private Career Colleges Act, 2005, to make arrangements for students affected by the closure of a private career college to complete their training at another institution or provide them with refunds, as required by the regulations under that Act.
  • The ministry has signed 11 agreements with training completion providers, so that former Everest students can continue their training, and continues to review proposals.
  • Ontario will also ensure that the loans of OSAP students who complete their training at another institution will not enter repayment until six months after they have completed training at the alternate institution.
  • Students who incur additional expenses for travel or dependent care in order to attend a training completion may submit an expense claim to be considered for additional reimbursement within 90 days of completing their training.
  • To pursue a training completion or obtain a refund receive compensation, a student must send a completed student claim form to the Superintendent of Private Career Colleges at TCAF-TCU@ontario.ca.