I believe that the maximum OSAP gave out in the years I was in school was a paltry $9,000. Even living at home I needed about $20,000 over the two years I was at Ivey. I can't imagine what it is like trying to do it on your own. And yes, once you are out of school and the interest kicks in, OSAP interest rates are scary. Probably to make up for the fact that so many students default. I'm paying prime+1 on my current bank loan, which is where I moved the OSAP loan immediately when the interest started being charged. The only good thing about OSAP is the fact that they don't charge you interest while you are in school. And that little tax break, which maybe makes up for the ridiculous rate they charge.

As for punishing us for getting an education... I still have education credits and haven't had to pay any taxes so I can't complain.