OCMT Tuition Funding Options

All students are required to pay or make necessary arrangements to pay their full tuition costs before
commencing their programs at OCMT. In demonstrating their commitment to studying at OCMT, each
future student must pay a required deposit, which covers initial administrative services, including the
documents review and admissions processing, and which may be credited towards their tuition. To allow
future students the lifetime opportunity to achieve their international education dream, OCMT, in
collaboration with our independent firms/agencies, has put measures in place to facilitate flexible tuition
funding options as presented below. The following are details and requirements for each tuition funding
method.

1. Out-of-Pocket Funding
Students going for this are required to pay at least, 25% of their tuition as a deposit before
obtaining a Letter of Acceptance (LoA). Based on our experience, this funding option provides
international students with the uttermost ease of mind, and in the eyes of the Visa official, it
demonstrates a commitment to the purpose of traveling to Canada, which may result in a positive
visa application decision.
Only this funding option is eligible for a refund based on the following terms:

a. Visa Denial Reason

If you have received a visa denial letter from the Canadian Embassy or Consulate in your
country and need to withdraw, you must notify the Admissions Unit via email at
admissions@ocmtontario.ca with a copy of your visa denial letter. A refund minus the $500
administrative charge and applicable bank/payment platform charges will be processed within
90 days of receiving your request and submitting of required document(s). OCMT strives to
complete refunds within 30 days, but there may be factors that may contribute to the delay.

Please note that tuition deposit will only be refunded to the same account where the deposit
was paid, and in CAD currency. In certain situations, your local bank may not accept CAD
currency, in such cases, we will refund in the equivalent of the CAD, but in the USD currency
based on the exchange rate as of that date.

b. Other Reasons
If your withdrawal request is due to any other reasons such as transfer to another institution,
you are not entitled to a refund, but you will have the option of completing your program
virtually.

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 Once your passport has been requested by IRCC, the remaining balance of tuition MUST be paid
to receive a Letter of Enrollment (LoE), which will confirm your registration and validate your entry
into Canada.

If the visa has been declined or IRCC has requested a revised LoA, a copy of such letter/request
must be sent to Admissions immediately to obtain a one-time revision to LoA, if still interested in
studying at OCMT. Please note, that a $226 plus tax admin fee applies. This fee covers the
administrative efforts by our staff to prepare a revised LoA. Alternatively, applicants can complete
their program online at a domestic tuition rate. Please reach out to admissions@ocmtontario.ca
for more details about this option.

2. OCMT EduFund Semester Payment Plan

For students who cannot pay their full tuition upfront and prefer an extended flexibility that allows
a semester-based payment plan at a reduced interest rate with minimal debt and an array of added
benefits, the EduFund Semester-Based Payment Plan is a perfect choice that meets these
requirements.

EduFund is a customized flexible payment plan which ultimately provides significant benefits to
students to fulfill their educational ambitions amidst financial limitations. It is an optional method
of funding your tuition at the OCMT. Therefore, it is the student’s responsibility to fulfill the
accompanying obligations as a beneficiary of this custom payment option.

Currently, all applicants are automatically pre-qualified for the EduFund payment plan without a
need for a guarantor. Please follow the “Steps for Completing EduFund Application” below to
obtain your EduFund Agreement and other supporting letters from the College.

Terms and Conditions

• Upon EduFund pre-approval and within two weeks, an applicant must pay 20% out of
the upfront 25% tuition deposit (which is non-refundable, but goes towards their tuition
and subject to the benefits listed below) before receiving their LoA:
a. Students from low-income backgrounds receive up to 15% scholarships.
b. Pay domestic tuition fees to complete your program virtually/online should your
visa get declined and be awarded the OCMT Diploma upon graduation.
c. Obtain relevant transcript upon successful completion of the program and subject
to OCMT standards.
d. Get a revised LoA (up to one-time revision if requested by IRCC) at no cost.
e. Receive a Letter of Financial Aid support for your Visa application.

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 f. Receive a “Satisfactory” remark on tuition payment status on LoA.
g. Get a one-time program change (if qualified) at no additional cost.
• Immediately a student receives their request for a passport, they must pay the remaining
10% and the first installment to receive their Letter of Enrolment (LoE).
• Students who fail to notify the College within 3 business days of their passport request
shall be deemed to have violated the conditions of their EduFund approval and may
have their LoA rescinded by the College and subsequently reported IRCC.
• Students who fail to notify the College about their visa issuance may face a severe
penalty including, but not limited to the termination of their admissions, formal
reporting to the Immigrations and Border Agency, and potentially, required to pay all
outstanding fees, failure of which may lead to collection activities, among others.
• Students shall have the opportunity to pay up the balance of their tuition at any time
before their program ends without penalty.
• Students who are approved for Gratify loan are also eligible for EduFund.
• Pre-approved applicants must sign the EduFund Agreement and initial the Refund
Waiver section.
• Programs that are six months or less do not qualify for EduFund.
• Accounts in default may be subject to an enrolment freeze.
• It is a condition of the EduFund offer that the student abides by the terms and conditions
of the EduFund, all of which shall apply and become binding on the recipient of the
EduFund.

See table 1 on the next page for more details on other requirements for this funding option.

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Table 1

EduFund Additional Requirements

Requirements Semester-Based
Upfront Deposit 25%
One-time Admin fee 15%
Interest Rate Compounded Annually 5%
Interest on Payment Defaults Compounded
3%
Monthly
Payment Schedule Every Semester
Payment Date Beginning of Each Semester
Based on the Number of Quarters in an
No. of Payments
Academic Year
Payment Method Pre-Authorized Debit (PAD)
Returned Payment Fee $125
**Note: Eligibility requirements are subject to change depending on key operational factors**

Steps for Completing an EduFund Application

1. Notify finance@ocmtontario.ca about your intention to go on EduFund.
2. Review EduFund Terms and Conditions.
3. Pay your non-refundable 5% tuition deposit.
4. Send your proof of payment to admissions@ocmtontario.ca
5. Complete, sign, and return your signed EduFund Agreement to
finance@ocmtonrio.ca
6. Receive your LoA and other supporting document from Admissions.
7. Upon receiving a passport request letter from IRCC, send a copy to admissions.
8. Next, pay the balance of your 10% non-refundable deposit to obtain your LoE, which
confirms your registration and valid entry into Canada.

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