Financial Aid FAQs

Financial aid comes in a variety of different forms, including:

• Government loans
• Interest-bearing loans or Lines of Credit 
• Bar admission/articling loan assistance 

From Law school for eligible recipients:

• Bursaries
• Interest reimbursement on lines of credit (authorized amounts only)
• Scholarships and prizes
• Post-Graduate Debt Repayment Assistance Program

All Canadian citizens and residents currently enrolled in the J.D. program at the University of Toronto Faculty of Law are eligible to apply. International students and students attending on a Letter of Permission are not eligible.

Applications are typically available in May.

The application deadline for first time applicants is July 8th. The application deadline for returning applicants is August 5th.

Students may borrow up to $60,000 interest-free for each year that they are enrolled in law school, to a maximum of $180,000 at TD bank or $53,300 interest-free for the first two years and then $53,400 in year three up to a total of $160,000 from Scotiabank. The amount of loan on which interest payment will be reimbursed will be determined by the Financial Aid office based on student’s financial needs. Please view comparison table for additional information about the two lenders.

The Financial Aid Committee is comprised of three students, four faculty members, Manager, Financial Aid, J.D. Program, the Admissions and Financial Aid Coordinator and the Assistant Dean, Students. If you would like more information about the Committee or would like to contact individual Committee members, please contact the Financial Aid Office at financialaid.law@utoronto.ca 

Students are required to submit a Faculty of Law financial aid application.

Final assessments will be made by late September (typically around September 25th). Bursary funds are credited to student accounts in early October. Students are strongly encouraged to set up Direct Deposit in their Acorn accounts to facilitate refunds.

Students are deemed to receive a certain amount of financial assistance from applicable family members based on their ability to contribute even if family members do not in fact contribute to a student's education. Underlying this rule is one of the core principles of the financial aid program - ensuring that law school continues to be accessible to students from all backgrounds. Access is of particular concern for students from low-income backgrounds. Students from low-income families often have personal histories or circumstances which make law school education less obtainable. The inclusion of parental income provides a means of accounting for these differences and ensuring accessibility. 

Parental income information is required from ALL students who are applying for financial assistance from the Faculty of Law.

There could be any number of reasons as to why the financial aid assessment may be different to what the financial aid calculator told you a few months ago. The difference might be due to changes in:

• the financial aid policy
• the student applicant pool
• information available (i.e. average parental income for 3 years, summer earnings, government loan assessments)
• additional expenses (i.e. claiming computer, moving or health expenses)

Students with dependents are allowed to claim additional deductions:

• $5,000 per dependent in the budget calculations
• Day Care expenses
• Additional moving allowance of 25% per dependent
• Deduction of $2,000 per dependent from summer income calculation

Students with disabilities may claim additional deductions

• Additional medical expenses can be added to budget calculations, supporting information is required. Please consult financialaid.law@utoronto.ca if you are not sure about appropriate documentation
• Students have until February 15th to submit receipts and or prescription information to have their financial assessment re-evaluated. Students incurring unexpected expenses over $500 AFTER the February deadline should contact financial aid for guidance
• Students unable to work in the summer as a result of medical issues may get an exemption against summer income allocation. Please contact financialaid.law@utoronto.ca to discuss appropriate supporting documentation
• The following assets are examples of the types of assets excluded from Financial Aid calculations:
  • Registered Disability Savings Plans
  • Specified Disability Savings Plans
  • Bursary for Students with Disabilities (BSWD)
  • Canada Student Grant for Services and Equipment for Students with Permanent Disabilities (CSG-PDSE)
  • Canada Student Grant for Students with Permanent Disabilities

Every effort is made by our Financial Aid Office to make sure that student records remain private and confidential

• We abide by Ontario's Freedom of Information and Protection of Privacy Act (FIPPA) principles
• Only authorized members of the Financial Aid team can access student information and correspondence in the Financial Aid office
• All information is stored securely in compliance with U of T's rules
• Student information is anonymized/redacted when submitted to the Financial Aid Committee for consultation
• Student records are kept and disposed when appropriate in accordance with U of T record retention policy

Please reach out to the Financial Aid office for further consultation at (416) 978-3716 or e-mail financialaid.law@utoronto.ca

• Students who are planning on taking a Leave of Absence should consult with their lenders (i.e. financial institutions/government loan programs) about re-payment of their loans that may become due when the students are on leave, and therefore not enrolled
• Students who benefited from the Financial Aid bursaries will have their bursaries re-calculated in accordance with the student's projected budget changes.

You can call the Financial Aid Office, at (416) 978-3716 or e-mail financialaid.law@utoronto.ca