The Ontario Government will provide up to $7.6 million to help students affected by the sudden closure of Everest College.
The government says the funding will allow students to complete their education at an accredited institution without having to pay additional tuition fees. Students who choose not to go back to school will get a refund.
$3 million has already been committed through the Training Completion Assurance Fund posted by Everest College.
“We know that students just want to get back to their studies and they can be reassured that this special, non-repayable grant will help cover the costs associated with their new training opportunity,” said Reza Moridi, the Minister of Training, Colleges and Universities in a statement.
The move comes less than one month after Everest College was suspended by the superintendent of private Career Colleges. The superintendent deemed the cash-strapped vocational school to be no longer financially responsible.
The Career Colleges of Ontario, a non-profit organization that advocates on behalf of career colleges, commends the announcement saying it is "pleased" to see students receiving "the support needed to finish their training."
Everest College has 14 campuses across Ontario, including one here in Ottawa.
The government says it has signed agreements with 11 schools to help former students complete their training, and will ensure that students do not enter repayment of OSAP loans until six months after they have completed their education.
Students looking to obtain a refund or finish their training must send a claim for to the Superintendent of Private Career Colleges at TCAF-TCU@ontario.ca.
