Graduation, Employment and OSAP Loan Default Rates 2011
OSAP Indicators — Explanatory Notes
In response to the Ministry of Training, Colleges, and Universities’ (MTCU) 1998-1999 OSAP policy requirement that institutions make available for students data regarding default rates, graduation rates and graduate placementrates, the University of Toronto is posting the three “OSAP Indicators” below. Graduation and default rates havebeen calculated by the MTCU using existing data sources while employment rate data was collected through agraduate survey conducted by the Ontario University Application Centre (OUAC).
The data are published in 26 program categories. The following provides additional information regarding threeparticular categories used:
“Other Arts and Science” — includes students enrolled in all Arts and Science programs except for students inCommerce, Computer Science and the UTM/Sheridan Fine Art/Drama program.
“Health Professions” — includes students enrolled in the B.Sc. in Biomedical Communication.
To maintain adequate confidentiality in light of the Freedom of Information and Protection of Privacy Act,information has not been shown in instances where the number of students is four or less.
Employment Rates — University Graduate Survey
To determine employment rates of recent graduates, Ontario universities conducted a survey of all 2008 graduatesof undergraduate degree programs. Graduates were asked 11 questions regarding their employment situation sixmonths and two years after graduation. Of the 67,943 graduates who were surveyed, 19,402 or 28.6% responded.
Table 1 indicates the employment rates for 2008 graduates of U of T’s undergraduate programs, by programcategory, six months and two years after graduation. Table 2 indicates the same employment rates for all universitiesin Ontario. The overall employment rates for 2008 graduates of U of T’s undergraduate degree programs is 88.1%six months after graduation and 91.2% two years after graduation. These compare to system-level rates of 91.7% six months after graduation and 93.8% two years after graduation. The employment rate is defined as the numberof employed persons expressed as a percentage of the labour force where the labour force is those persons whowere employed, or unemployed but looking for work.
The University of Toronto Careers Centre provides career and employment services exclusively to U of T students,recent graduates, and employers.
The MTCU has calculated graduation rates using a single entering cohort of students and determining whether ornot they graduated within seven years. The methodology employed involves the selection of all new full-time, YearOne undergraduate students on the official Fall 2002 enrolment file, who have a valid (and unique) student IDnumber, and were seeking either a bachelors or first professional degree. The subset was then matched against therecords for students who received a degree (in any program) from the same institution during the period 2003-2009.
Table 1 indicates the graduation rate for all programs at U of T is 82.1% (compared to 79.7% for all programs at allOntario universities — see Table 2).
The 2010 default rates reflect the repayment status of students (undergraduate and graduate) who were issuedOntario Student Loans in the 2007-2008 academic year and did not receive an Ontario Student Loan in 2008-2009,and who defaulted on their repayment obligations approximately two years after graduation. Student loanrecipients/defaulters are, for the purpose of calculating default rates, assigned to the last institution/program theyattended in 2007-2008. The status of these loans was assessed as of July 2010 or about two years after entering intorepayment.
Table 1 indicates the 2010 default rate for all programs at U of T is 2.9%. This compares to 3.7% for all programsat Ontario universities (see Table 2). As approximately 38% of full-time undergraduate U of T students receive OSAP, the number ofgraduates who have defaulted on loans represents less than 3% of the student population. It is also important tonote when reviewing the data that they may include student loans from more than one program as well as programsfrom other universities in Ontario and across Canada.
In 1998 U of T, which provides over $141 million in student aid (scholarships, fellowships and bursaries) annually from its operating budget alone, introduceda policy stating that no student should be prevented from entering or completing a program of study due to financialneed. The details are given in the Policy on Student Financial Support.
Table 1: Graduation, Employment and OSAP Loan Default Rates: University of Toronto by Program Area
|Program||Rate1||6 months||2 years||Rate3|
|Agriculture & Biological Sciences||79.8%||81.4%||83.8%||2.0%|
|Architecture & Landscape Architecture||5||100.0%||100.0%||0.0%|
|Business & Commerce||83.7%||90.8%||95.0%||1.5%|
|Other Arts & Sci||76.4%||76.0%||78.4%||7.9%|
|Other Health Professions||0.0%||87.1%||94.3%||1.4%|
|Therapy & Rehab||5||5||5||0.0%|
|U of T Average||82.1%||88.1%||91.2%||2.9%|
Table 2: Graduation, Employment and OSAP Loan Default Rates: Provincial Averages by Program Area
|Program||Rate1||6 months||2 years||Rate3|
|Agriculture & Biological Sciences||77.7%||86.8%||89.9%||2.2%|
|Architecture & Landscape Architecture||88.5%||91.7%||96.4%||0.6%|
|Business & Commerce||81.0%||92.6%||94.9%||2.4%|
|Other Arts & Science||75.6%||89.1%||92.6%||7.5%|
|Other Health Professions||87.0%||87.0%||93.9%||1.5%|
|Therapy & Rehabilitation||81.3%||100.0%||96.0%||0.0%|