Students

$8000 back from the govnt after you graduate?

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  • Mar 19th, 2018 5:35 pm
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Aug 9, 2011
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$8000 back from the govnt after you graduate?

i have this one coworker that stated you could claim $8000 or get back 8000 back from the govnt after you graduate from university? What is this? any ideas?
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Mar 9, 2012
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Kitchener
imflying12 wrote: i have this one coworker that stated you could claim $8000 or get back 8000 back from the govnt after you graduate from university? What is this? any ideas?
No idea, never heard of free money after graduation. I do know some provinces (Ontario is not one of them) will reimburse you (Tuition), or give you cash, once your graduate from a school in that province, IF, you stick around and not move to another province. It is more or less a retention bonus.
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Jun 10, 2008
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Probably claimed tuition tax credits.... I got most of my taxes back first year of employment after graduating.... had some carryover to the next year as well..... so if it was an expensive degree, then it is likely your co-worker was able to claim a nice chunk back in tax credits.
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Nov 22, 2012
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NS
New Brunswick and Nova Scotia did provide graduate tax credits in the past but cancelled these programs.
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Jan 10, 2018
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Ya unfortunately tuition and textbook credits have been axed by the feds and in my province of Sask. huge loss for students.

We do have a grad retention program in sask it used to be a rebate, but is now just a credit on prov tax. It’s split up over 7 years 10/10/10/10/20/20/20%
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Tommycoupons wrote: Ya unfortunately tuition and textbook credits have been axed by the feds and in my province of Sask. huge loss for students.

We do have a grad retention program in sask it used to be a rebate, but is now just a credit on prov tax. It’s split up over 7 years 10/10/10/10/20/20/20%
but it was $20,000, pretty sweet deal
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Since you are from Ontario, they may have been thinking about this:

https://osap.gov.on.ca/OSAPPortal/en/A- ... 15098.html

Which limits your OSAP debt to $7,500 a year for those studying full-time for 2 semesters or $11,250 for those studying full-time for 3 semesters a year.

So, if you got an OSAP loan for $15,500 for a 2-semester year, and you complete the study year, this grant would reduce your loan to $7,500 (meaning $8,000 would have been free).

They assess whether you are eligible for this grant sometime after tax season ..... They verify your income to see whether you were eligible for OSAP. People lie on loan applications and they do check it.
Sr. Member
Nov 6, 2015
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Guelph, ON
When I graduated about 20 years ago there was "loan forgiveness" where the government paid off some of your student loans. I don't know if that is still in place. You didn't get cash, it just reduced how much you owed.
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Oct 13, 2016
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If the person was International student- International students pay around 7500 per semester for 4 semesters..
With around 35000$ payment for degree, we get some student credits (like no tax on the amount earned).
When we file taxes after employment(taxes deducted initially) because of those credits we do get tax refund which ia around 8k.
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Jan 2, 2015
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Saskatchewan has a special graduate rebate. I believe it's $10,000, not $8,000, but it's a tax credit, so you're getting more like $1,000 back, over the course of several years. (They want you to stay in Saskatchewan. You lose it if you move away.)
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Mar 2, 2011
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Ottawa
JoeBlack23 wrote: When I graduated about 20 years ago there was "loan forgiveness" where the government paid off some of your student loans. I don't know if that is still in place. You didn't get cash, it just reduced how much you owed.
This is still in NS. I'm from NS, graduated from there, and they forgave my entire NS loan ($14k) last year after graduation. Still have federal loan, but it was a sweet deal and I'm thankful! NS used to have a deal where you had to stay in NS to receive credits, but now it's just the forgiveness program & 0% interest (on top of bursaries and the tax credits everyone gets, of course)
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FoFai2015 wrote: Saskatchewan has a special graduate rebate. I believe it's $10,000, not $8,000, but it's a tax credit, so you're getting more like $1,000 back, over the course of several years. (They want you to stay in Saskatchewan. You lose it if you move away.)
It is not a tax credit. Its actually $20,000 for 4 year degree and $10,000 or less for diploma, other certification over number of years as long as you are a Saskatchewan resident

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