Personal Finance

How to extend grace period of OSAP

  • Last Updated:
  • Feb 4th, 2015 6:37 pm
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[OP]
Newbie
Feb 16, 2014
16 posts
Toronto

How to extend grace period of OSAP

I did graduation in August. As per OSAP i need to pay back from 1-Mar

Currently i am jobless. And still looking for Job.

I am making money by selling some items and making about 700$ per month only.

Is there any way to extend 6 months OSAP grace period. Currently i can't pay any money.

Is there any way?
10 replies
Deal Fanatic
User avatar
Nov 2, 2013
5303 posts
1174 upvotes
Edmonton, AB
Apply for repayment assistance, and if you have no income, specify so. Give them a call to follow up if you haven't heard back in a few days. Note that this is all done online now at canlearn.ca. If they approve ya you can make reduced payments for 6 months (or none at all) and then you re-apply if you haven't found work yet.
Consultant
- Oilfield & Industrial Services - Finance - IT -
In the Alberta Oilfield since 2013
[OP]
Newbie
Feb 16, 2014
16 posts
Toronto
I am making money but it is too less which is 700$ / month. Based on my 700$ / month income; can they exempt me from repayment atleast for more 6 months. I can't pay anything right now
Deal Addict
Dec 6, 2006
4483 posts
1126 upvotes
Toronto
As said, just apply for Repayment Assistance. Depending on your reported income, you can have a reduced monthly payment or no payment. That's all you need to do, and all you can do.
[OP]
Newbie
Feb 16, 2014
16 posts
Toronto
boyohboy wrote: As said, just apply for Repayment Assistance. Depending on your reported income, you can have a reduced monthly payment or no payment. That's all you need to do, and all you can do.
In Repayment Assistance form there is a column of "Monthly Approved Expenditures", What is meant by this? Which expenditures do i need to mention here.

Plz advise
Deal Fanatic
User avatar
Nov 2, 2013
5303 posts
1174 upvotes
Edmonton, AB
cellphoneguy wrote: I am making money but it is too less which is 700$ / month. Based on my 700$ / month income; can they exempt me from repayment atleast for more 6 months. I can't pay anything right now
should be able to, there was a month where i made only about 1400 because of rain and i got it.
Consultant
- Oilfield & Industrial Services - Finance - IT -
In the Alberta Oilfield since 2013
[OP]
Newbie
Feb 16, 2014
16 posts
Toronto
FirstGear wrote: should be able to, there was a month where i made only about 1400 because of rain and i got it.
In Repayment Assistance form there is a column of "Monthly Approved Expenditures", What is meant by this? Which expenditures do i need to mention here???
[OP]
Newbie
Feb 16, 2014
16 posts
Toronto
FirstGear wrote: Apply for repayment assistance, and if you have no income, specify so. Give them a call to follow up if you haven't heard back in a few days. Note that this is all done online now at canlearn.ca. If they approve ya you can make reduced payments for 6 months (or none at all) and then you re-apply if you haven't found work yet.
boyohboy wrote: As said, just apply for Repayment Assistance. Depending on your reported income, you can have a reduced monthly payment or no payment. That's all you need to do, and all you can do.
After applying Repayment Assistance Plan, can i take more OSAP in future? (After 6 months)

OR

Will the govt restrict me from taking further OSAP
Deal Addict
Apr 6, 2008
2458 posts
368 upvotes
Toronto
why don't you just call them
Deal Addict
Dec 6, 2006
4483 posts
1126 upvotes
Toronto
Should still be able to get OSAP regardless of having Repayment assistnace or not.

Not sure what all the Monthly approved expenditures are... but typical rents & groceries will certainly be ok. Cruise trip to the Carribean is certainly not.

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