Osap tips/advice/questions

[britishnat]

Does anyone know how long reviews/appeals take to process?

[j831]

Is it possible to use RESP, withdrawing as an EAP, for OSAP repayment AFTER I've graduated?

[raymondh]

hey guys, with the new osap process being placed this year (MSFAA). What are your current statuses? Mine says:
Checklist
Things to review:

Verification of income
Parental income must be verified before OTG funding released.
When funding is available
anyone having the same things?

[asdf123]

If I made money from co-op this term (May to August), and invested it in high interest savings accounts or something, do I need to report this in "other assets"? Because it would seem like I am double reporting and would make me receive less as I am already reporting it under income..

[Nazey]

I got OSAP in the begining of summer, but didnt go to any classes, and failed them. what happens next?i owe around 20 k, and i got 8k this summer( i passed all courses last 2 semesters), so will i get a payment plan for 28k? or will they ask that 8k right away? ( and yes i abused the system)

I can tell you off hand you will probably be placed on OSAP probation, you will get a letter placing you on probation and asking you to write a letter explaining why you failed those classes and how you will improve. Someone can correct if im wrong and i believe the 8k will be added to you existing loans.

[Nazey]

hey guys, with the new osap process being placed this year (MSFAA). What are your current statuses? Mine says:
Checklist
Things to review:

Verification of income
Parental income must be verified before OTG funding released.
When funding is available
anyone having the same things?

A lot of people have the same status , keep waiting it takes a while for the documentation to be cleared. But from the list you posted it seems you are approved? If you see the "When funding is available" tab it will show you when your OSAP will be released in two semester periods. If you are asking whether you will receive OSAP for the school year ,if your funding shows when it will be released than you will be getting it at those times. But yes the documentation takes a bit of time to clear.

[Nazey]

Where can I go to change my bank account on the MFSAA form or to verify they have the correct one?

Someone told me they send funds directly to the account # you put their without doing any verifying. They don't do any type of verification to check if that's really you?! So what if I put the wrong number or someone puts their own number there.. wouldn't you immediately lose like thousands of dollars..

I mean there has got to be someone who made a number error..

Where can I go to make sure they have the correct number? Thanks I'm panicking now... I was doing exams at the time and didn't think about double checking..

To be honest this is not their issue, it is your responsibility to double check and make sure your account number is written correctly. However in the event that might happen, you can always call OSAP and let them know your concerns. I think the chances of the money being sent to a wrong bank account is highly unlikely. Unless there is someone else with your first and last name and sin number in the same city. lol

[BoogieWilliams]

I was thinking about this lately, a friend of mine was debating about taking a lower course load and splitting up his final year into 2 years and thus making his program 5 years in total. How do you apply for OSAP online in that case, since when you go online there are only 4 years stated for the particular program, so when you are trying to apply for OSAP on your 5th year what do you do?

[MissMalfoy]

I can tell you off hand you will probably be placed on OSAP probation, you will get a letter placing you on probation and asking you to write a letter explaining why you failed those classes and how you will improve. Someone can correct if im wrong and i believe the 8k will be added to you existing loans.

The $8K will be an overpayment that kenneth4 will have to pay back before OSAP will release anymore loans. I know there is the one time overpayment waiver, but I don't know if that counts for students who don't pass any of their classes.

[qpalzm]

Does anybody know this.
Last semester I was put on probation. I have grades coming in for summer courses though at the end of August. My question is do they wait to have those marks before giving the Sept portion or do they decide on giving money before?

[asdf123]

My dad is retired. In his income section it asks if he is "self-employed". Would that be a no?

[Brea]

May anyone please help me on this?

1) When reporting income do I report all income? I made around 10000 this summer and had to spend half of it towards rent, living expenses, and transportation expenses. So I have only around 4500 left... and I am afraid if I report 10000 I will lose a lot of vital funding. It's my first summer job so I don't know how OSAP works for this situation.

[grant_]

May anyone please help me on this?

1) When reporting income do I report all income? I made around 10000 this summer and had to spend half of it towards rent, living expenses, and transportation expenses. So I have only around 4500 left... and I am afraid if I report 10000 I will lose a lot of vital funding. It's my first summer job so I don't know how OSAP works for this situation.

You are required to report your entire income, however I'm not sure if they take into account how much you have left.

[Catalyst13]

I will be living off campus in my first year and was just about to negotiate with my landlord. I will be paying cash and probably won't be reporting it as an expense when I file my taxes so I was just wondering will that affect my OSAP next year? I will be living away from my parents but I am just wondering if I don't report it next year does that mean next year they would assume that I lived at home instead?

Thanks for the Help

[_Allan_]

I will be living off campus in my first year and was just about to negotiate with my landlord. I will be paying cash and probably won't be reporting it as an expense when I file my taxes so I was just wondering will that affect my OSAP next year? I will be living away from my parents but I am just wondering if I don't report it next year does that mean next year they would assume that I lived at home instead?

Thanks for the Help

Not reporting it on income tax is TOTALLY STUPID! You can get 10-20% back as credits!