OSAP

OSAP changes for 2017 - 2018

Have you heard that OSAP will be changing for 2017 - 2018 and want to learn more? Visit the OSAP Transformation page on the Ministry of Training, Colleges and Universities site to read some FAQs.

Everything you need to know about OSAP

OSAP is a need-based government student loan and grant program designed to help supplement the cost of post-secondary education.

OSAP: How to apply

Apply for OSAP online at osap.gov.on.ca

Applying for OSAP for the first time? Our step-by-step guide can show you how.

OSAP Loan Distribution – Full-time students

Fall-Winter 2016-17 OSAP for Full-time students

Canada and Ontario have a multi-year student loan agreement, called the “Master Student Financial Assistance Agreement (MSFAA)”. Your agreement is personalized and you’ll be able to print it after you submit your OSAP online application. Submit your MSFAA to a designated Canada Post Outlet. You only need to submit the MSFAA once during your duration of your studies (unless you take a two-year break or establish residency in another province). Once your MSFAA is received and if your OSAP application is complete, funding will be deposited directly into your bank account after the university confirms your enrolment. Follow these 4 steps to get your OSAP funding.

Step 1: Submit Your Master Student Financial Assistance Agreement (MSFAA)

Print, complete, and sign your MSFAA

After you submit your online OSAP Application for Full-Time Students, print your MSFAA. Please ensure that it prints legibly. If you applied for OSAP using a paper application, your MSFAA will be mailed to you. Read the terms and conditions carefully. The MSFAA is a legally binding contract. Then complete and sign your MSFAA.

Take your MSFAA to a Canada Post Outlet

Take page 1 of your MSFAA to a designated Canada Post Outlet right away (keep the other pages as reference as they outline the terms and conditions). You don’t have to wait for classes to begin in order to submit your MSFAA. You may also take your MSFAA to a National Student Loans Service Centre kiosk, but they are only available at certain times of year. You must present two pieces of documentation to prove your identity at the time you submit your MSFAA. Visit the canlearn website to find out what documentation is acceptable as well as to find designated Canada Post Outlets: http://www.canlearn.ca/eng/loans_grants/loans/apply.shtml

Step 2: Submit All Required OSAP Documents

All required documents listed at the end of your online OSAP application must be submitted to your financial aid office before any funding can be released to you. Log in to the OSAP website and go to the “Documents You Must Provide” section.

It can take approximately 6-8 weeks to process OSAP documentation, so make sure you apply for OSAP as early as possible and provide your documentation in a timely manner.

Step 3: School Confirms Your Enrolment

Your school must confirm your enrolment before your funding can be released to you. Enrolment is confirmed once the OSAP application is complete and classes have started. This confirmation will happen for each disbursement. For most students, this will happen at the start of their studies (e.g., September) and then again halfway through their study period (e.g., January). For information about your disbursements and funding, log on to your OSAP account on the OSAP website and go to the “Check Status” section.

Step 4: Update Your Income

Before the release of your second disbursement, which is generally halfway through your study period (e.g., January) you will be able to update your income. Instructions will be sent to you about a month before your second disbursement.

OSAP Access Number (OAN)

Your OSAP Access Number can be obtained at any Public University or College in Ontario. This process must be done in person. To retrieve your OAN or to reset your OSAP password, please present One piece of valid government-issued photo identification card with a current photo AND Proof of Social Insurance Number (one of the following):

  • Your Social Insurance Number (SIN) card (photocopy is acceptable)
  • Canada Revenue Agency Notice of Assessment
  • Canada Pension Plan Statement of Contributions
  • Confirmation of Social Insurance Number from Service Canada

Your name on both pieces of identification must match.

OSAP Loan Distribution – Part-time students

Fall-Winter 2016-2017 OSAP for Part-time students

For financial aid purposes, ‘Part-time’ is defined as being registered in less than a 60% course load in a term of study (i.e., September to December, January to April or May to August).

Once your part-time OSAP application is complete, funding will be released in the form of a loan document after the university confirms your enrolment. All required documents listed at the end of your online OSAP application must be submitted to your financial aid office before any funding can be released to you. Log in to the OSAP website and go to the “Documents You Must Provide” section.

If you are eligible to receive part-time OSAP you can pick up your OSAP loan document from the Office of the Registrar

Regular hours of distribution are Monday to Thursday 9 a.m. to 4 p.m. and Friday 9 a.m. to 1:30 p.m.

To check to see if your part-time OSAP loan document has arrived click here.

You will also need to present the following three pieces of identification:

Your first and last name on all 3 pieces of identification must match your name as indicated on your student loan. Expired identification cannot be accepted.

1. Proof of Social Insurance Number

  • Your Social Insurance Number (SIN) card (photocopy is acceptable)
  • Canada Revenue Agency Notice of Assessment
  • Canada Pension Plan Statement of Contributions
  • Confirmation of Social Insurance Number from Service Canada

2. University of Toronto Student ID Card (TCard)

3. Valid Canadian Government Photo ID

  • Driver’s License
  • Canadian Citizenship Card
  • Permanent Resident Card
  • Canadian Passport
  • Ontario Photo Card

OSAP Course Load and Academic Progress Requirements

OSAP Undergraduate Fall/Winter Course Load Requirements

Period of Study

General Requirements

Requirements for students with documented permanent disabilities

Minimum Credit(s) to receive OSAP (60% of a full course load)

Must Pass

Minimum Credit(s) to receive OSAP (40% of a full course load)

Must Pass

September to April

3.0 (1.5 credits per term)

3.0

2.0 (1.0 credit per term)

2.0

September to December

1.5

1.5

1.0

1.0

January to April

1.5

1.5

1.0

1.0

OSAP forms

Expense-Related

Request for Review: Adjust Living Allowance

Complete this form in order to request an adjustment of your living allowance if you meet the conditions listed.

Request for Review: Adjust Local Travel in Study Period

Complete this form if it is more than 30km to drive from your home to the campus, if it takes more than one hour by public transit to commute from your home to the campus, or if there is no public transit available.

Grant-Related

Application for Accommodation: 30% Off Ontario Tuition Grant

Complete this form if you were unable to attend post-secondary education within 4 years of completing high school due to a disability or caring for a dependent. This will allow for you to receive the Ontario Tuition Grant.

Request for Grant Only Funding

Use this form if you only wish to receive the grant(s) for which you are eligible and decline the Canada-Ontario Integrated Student Loan.

Income-Related

Parent Income Verification: Foreign and/or Non-Taxable Income

If one or both of your parents has income that cannot be verified by the Canada Revenue Agency, use this form in order to document it.

Request for Review: Adjust Income Contribution Due to Lack of Employment

If you and/or your spouse (if applicable) lack employment use this form to adjust you or your spouse’s income contribution. A record of your job search much be attached to demonstrate you are looking for employment.

Request to use Parent’s Estimated Income

If your parent’s 2016 estimated income more accurately reflects their financial situation than their 2015 actual income, complete this form to update your OSAP application.

Request to use Spouse’s Estimated Income

If your spouse’s 2016 estimated income more accurately reflects their financial situation than their 2015 actual income, complete this form to update your OSAP application.

Miscellaneous Appeals

Credit Check Review Form

Complete this form if your OSAP application was denied due to a failed credit check and you wish to have the decision reviewed.

OSAP Release of Information to Others

Complete this form if you wish to add or remove an individual from being able to access your OSAP information.

*Note: Incomplete documentation cannot be considered. Students must provide ALL of the required documents as requested on the form.

Postponement of OSAP Repayment

Application: One-Year OSAP Grace Period for Entrepreneurs

If you are the owner or co-owner of a new Ontario business, this form can grant a six month extension before you have to begin making payments on your OSAP loans.

Application: One-Year OSAP Grace Period for Not-for-Profit Employees

If you employed in either a paid or volunteer position at a valid Ontario not-for-profit organisation, this form can grant a six month extension before you have to begin making payments on your OSAP loans.

Continuation of Interest-Free Status (Schedule 2)

Complete this form if you will not be receiving OSAP for the coming year but will be continuing your studies at UTM. This will ensure you are not charged interest on your loans during this period.

Residency

History of Canadian Residency:

Complete this form to document your and/or your family’s residency history in Canada.

Summer OSAP

Students must register for a 60% course load (1.5 credits) for the summer term (May to August) to be eligible to apply for OSAP. Students with permanent disabilities qualify to apply by taking a 40% course load (1 credit for the full term).

It is recommended that students apply for OSAP for the Summer Session by the end of March to ensure that funding is available when summer classes begin. Students who received OSAP funding in the preceding Winter term may apply for Summer OSAP using a one-page form available at the Office of the Regsitrar in March. Students who did not receive OSAP funding in the preceding Winter term should apply for Summer OSAP on the OSAP website.

OSAP Undergraduate Summer Course Load Requirements

Period of Study

General Requirements

Requirements for students with documented permanent disabilities

Minimum Credit(s) to receive OSAP

Must Pass

Minimum Credit(s) to receive OSAP

Must Pass

May to August

1.5

1.5

1.0

1.0

May to June only*

1.0

1.0

0.5

0.5

July to August only*

1.0

1.0

0.5

0.5

3 – Week Course*

0.5

0.5

0.5

0.5

*Must have received OSAP funds at the University of Toronto for the preceding Winter Session to be considered.

OSAP Satisfactory Academic Progress

In order to be eligible for continued financial assistance from OSAP, students are required to remain in 60% of a full course load, (40% for students with a permanent disability) as shown the Fall/Winter and Summer OSAP charts above. Students must also earn a passing grade in the minimum course load required. Failure to maintain satisfactory academic progress in two periods of study will result in ineligibility for OSAP assistance. Students are advised to speak with a financial aid advisor when considering dropping a course.

Your Responsibilities

As an OSAP recipient, you assume the following responsibilities:

  1. To read, and ensure that you understand, the terms and conditions outlined in your Master Student Financial Assistance Agreement (MSFAA).
  1. To promptly notify the Office of the Registrar – UTM/ Enrolment Services if you:
  • reduce your course load
  • change your program of study
  • are not progressing academically
  • withdraw from your studies
  • have a change in marital status
  • have changes in your personal financial information, or changes to your family’s Income information*

Verification of Income*

All income information is verified with the Canada Revenue Agency (CRA). That includes your income, and if applicable, the income of your parent(s) or your spouse. If there is a discrepancy between the incomes reported on your OSAP application and the income information received from CRA, OSAP will use the income information from CRA to assess or reassess your application. If it is determined that there is a significant variance between the income information, you may become ineligible for any further aid. You can be restricted from receiving further assistance for up to 5 years. In addition, your Ontario Student Opportunity Grant entitlement may be affected.

Remember: it is important to ensure that your income is accurate!

After you receive your 1st installment of OSAP, you should confirm your income online by logging into to your OSAP account at https://osap.gov.on.ca  and clicking on the “Income Update link”. In addition you can use the “Financial Aid Change form: Financial Aid Change Form  to update your income on your OSAP application (before and after your online income confirmation). Changes or updates to your income can be made up to the end of your study period.

Include income from these sources:

  • Employment income;
  • government funding or income support provided directly to you;
  • awards, scholarships, fellowships, bursaries and grants;
  • self-employment or rental income from residential or commercial properties (report gross income minus operating expenses);
  • income from all sources world-wide (e.g., foreign income);
  • child-support and court-ordered spousal support alimony payments;
  • monetary gifts provided by someone other than your parent(s) or spouse;
  • payments and/or interest/dividends earned from investments and in-trust accounts;
  • payments received from RRSPs and other retirement accounts;
  • income received as a result of a joint election to split pension income;
  • lottery winnings;
  • the amount of non-economic loss and/or pain and suffering awards in excess of $100,000.

Do NOT include income from these sources:

  • HST/GST Rebates; Child Tax Benefit; Continued Care and Support for Youth payments (formerly Extended Care and Maintenance payments);
  • Universal Child Care Benefit; Ontario Child Benefit;
  • Ontario Children Benefit Equivalent Savings Program; Assistance for Children with Severe Disabilities;
  • Affordable Housing Program;
  • Registered Disability Savings Plan (RDSP);
  • Youth Employment Fund; Entrepreneurial grants to start a business;
  • Indian Residential School Payments including Personal Credits;
  • Veteran’s Affairs Disability Benefits;
  • Quest for Gold; Compensation for victims of crime;
  • any loans or grants received through OSAP including 30% Off Ontario Tuition, Queen Elizabeth II Aiming for the Top Scholarships, and Ontario Student Opportunity Grants;
  • any award, bursary, and/or needs-based scholarship received from a public Ontario college or university if the college/university informs you in writing that they will report the award to OSAP directly
  1. Inform the National Student Loan Service Centre at the start of your studies, if you have returned to school full time and will not be applying for, or receiving OSAP. Failure to notify the NSLSC that you are enrolled as a full time student will result in your previous loans entering repayment. 

Continuation of Interest-Free Status/Confirmation of Enrolment (Schedule 2) to notify NSLC that you are still a registered full-time student can completed on or after the first day of classes. The completed form should be submitted for processing in the drop box at the Office of the Registrar at UTM.

  1. Repay your loans when you are no longer in full-time studies. If you experience any difficulty in repaying your loans, contact the National Student Loans Service Centre to apply for Repayment Assistance http://www.canlearn.ca/eng/loans_grants/repayment/help/repayment_assistance.shtml

Information has been adapted from resource material on Ontario.ca/OSAP

Repaying OSAP or other provincial loans

When to start repaying your loans

OSAP requires that you start repaying your loans six months after you cease to be a full-time student. For example: If your full-time studies end in April, you would begin making monthly payment towards your loan at the end of November, unless you became a full-time student again by then.

Note: During the first six month after you cease to be a full-tie student, the Ontario government pays the interest on the Provincial portion of your OSAP loan.  Interest will still accumulate on the Federal portion of your loan, even though no payment is required during those six months.

How to repay your loans

Loan repayment is conducted through the National Student Loans Service Centre (NSLSC). The NSLSC’s website allows you to view information regarding your loans including:

  • Your total loan amount
  • The interest rate on your loans
  • Payment deadlines
  • The method of payment you have chosen
  • The bank account that you are using for repayment

You can register for NSLSC online services here. Carefully review your information before you have to begin repaying your loans in order to ensure you are prepared to begin repayment. The NSLSC will mail you a ‘Consolidated Student Loan Agreement approximately 6-8 weeks before your first required payment. It is your responsibility to sign the agreement and to repay the loan and all interest that has accrued, as outlined in the terms of the agreement.

Maintaining Interest-Free Status while you are a full-time student

If you receive OSAP loans, the National Student Loans Service Centre (NSLSC) will be aware that you are a full time student. This means that your previous student loans will be interest free and that you will not be asked to begin repaying your loans.  However, if you return to full-time studies, and do not apply or receive OSAP loans, then it is your responsibility to complete a Continuation of Interest Free Status/Confirmation of Enrolment (Schedule 2) Form on or after the first day of classes in order to prevent your previous loans from accumulating interest while you are still pursuing full-time studies.  This form may be submitted to the Office of the Registrar Drop Box.

Postponing loan repayment

Once you have left full-time studies, OSAP offers a six-month extension to your initial six month grace-period if you meet one of two conditions:

  1. If you are an entrepreneur who is the owner or co-owner of an eligible new Ontario business, you may apply using the Grace period extension for entrepreneurs form
  2. If you are employed in a volunteer or paid position at an eligible Ontario non-profit, you may apply using the Grace period extension for not-for-profit employees form

If you meet one of these conditions and wish to receive the six-month extension, complete the correct form and submit it to the National Student Loans Service Centre (NSLSC.

Repayment assistance plan

If you are having difficulty making payments on your OSAP loans and accumulated interest, you could be eligible to apply for the Repayment Assistance Plan. This program lowers your monthly payments to make them more affordable. For more information, see the Repayment page of the OSAP website.

Further student loan repayment information and assistance

The NSLSC offers free webinars to help students understand the process of loan repayment. You are encouraged to sign up for one here. Further information on loan repayment is also available from the Ontario Government website. You may also speak with a Financial Aid Advisor in the Office of the Registrar, or contact the National Student Loans Service Centre