Plan your finances and access support during your co-op work terms.
Managing finances during a co-op work term can feel challenging, especially when you are balancing income, OSAP, rent and daily expenses. Waterloo offers financial resources to help you plan ahead, manage costs and access supports when needed.
Co-op work term and OSAP
If you receive Ontario Student Assistance Program (OSAP) funding, it is important to understand how your co-op work terms affect your funding and loan status. Students on co-op are considered 100 per cent courseload for full-time OSAP, which can help cover living expenses (and tuition too, if you’re enrolled in courses).
Continuation of Interest Free Status (CIFS)
Continuation of Interest Free Status (CIFS) lets you keep your existing OSAP loans interest‑free and delay repayment while you’re in full‑time studies or on a co‑op work term. Applying on time helps prevent interest from being added to your loans.
Emergency Loan Program
If you experience unexpected financial challenges during a study or co-op term, short-term emergency loans may be available. These loans are designed to help with essential expenses while you work toward a longer-term solution.
Financial support while working abroad
If you are planning a co-op work term outside Canada, there are scholarships, grants, financial aid and other funding opportunities that may be able to assist you.
