1. Why did the name of the program change?
The Professional Experience Year Co-op Program (PEY Co-op) is the same established program that has been offered to U of T students in engineering, computer science and other applied science programs for the past 40 years. The new name provides greater clarity to both students and employers by emphasizing the fact that it is — and has always been — a co-operative learning experience.
2. Can I work for different companies during PEY Co-op?
PEY Co-op is a 12- to 16-month position in one company, providing you with a rich and immersive opportunity to focus on your professional development. U of T Engineering students may also consider participation in our Engineering Summer Internship Program, which is an optional, paid, four-month summer internship. Together, these programs offer a multiple-work-term experience at different companies.
3. Will PEY Co-op appear on my transcript? If so, how?
Yes, it will appear on your transcript as “PEY Co-op 500” credit/no-credit course.
4. What is my student status while on PEY Co-op?
While you work full time as a registered PEY Co-op student, you will retain your student status during the fall and winter terms. This means you will still have access to University support services as well as maintain interest-free status on your OSAP or other provincial student loans.
5. Will I need to pay incidental fees while I’m working at my PEY Co-op position?
Students pay part-time incidental fees for each of the fall and winter terms while on PEY Co-op, which ensures you have access to important University services and plans. While your health and dental insurance plan will remain active throughout the fall, winter and summer, your access to campus services (e.g., athletic facilities) pauses during the summer term — just as it does for any U of T student who is not enrolled in courses over the summer. Throughout your PEY Co-op position, you and your employer will have uninterrupted access to Engineering Career Centre services.
6. What if I want to work for a year but not through the PEY Co-op Program (i.e., take a gap year to work)?
If you take a gap year to work and are not registered through the PEY Co-op Program, you will not be registered as a U of T Engineering student while you are away from your studies. PEY Co-op is an official University program and you will not be entitled to call the gap year a PEY Co-op position. It is important that you don’t misrepresent this status in any way, including to employers, on LinkedIn, or on your resume. If you choose to take a gap year, you will not have access to the Continuation of Interest-Free Status (CIFS), meaning you will need to start repaying your OSAP/provincial government loan during your gap year.
7. What if I receive a student loan from another province — will I still receive the same interest-free status as students receiving OSAP loans?
Yes, however, please check with your provincial lender for information on which forms are required to maintain interest-free status.
8. Do I need to let OSAP know that I’m still a student while on PEY Co-op?
Yes, OSAP recipients will need to complete a Continuation of Interest-Free Status (CIFS) form online through their OSAP account online.
9. Do I have to reapply to receive OSAP funding after completing my PEY Co-op position?
Yes, as with every year you received OSAP in the past, you must reapply if you need assistance upon returning to your studies.
10. What if I don’t need OSAP after returning from PEY Co-op — how do I maintain interest-free status?
If you received OSAP in the past and will not need funding again after completing your PEY Co-op job, please advise the National Student Loans Service Centre when you return to full-time studies by completing the CIFS form online through your OSAP account. If you received a student loan from another province, please contact your lender for instructions on what they require when you return to your full-time studies after completing your PEY Co-op position.
11. Can I apply for OSAP while I’m on PEY Co-op?
Yes, you may apply for OSAP, however, you must declare their PEY Co-op income on your OSAP application. The amount of funding you receive will depend on the level of your income/resources (including that of your parents/spouse, if applicable).
12. I’m an international student. Will I have full UHIP coverage while I work at my PEY Co-op job?
Yes, provided your PEY Co-op job is in Canada. As with OHIP, UHIP does not provide coverage (travel insurance) outside of Canada.