Students

Osap tips/advice/questions

Member
May 31, 2010
405 posts
22 upvotes
Yeah, the max is $210/week because the provincial part of the loan is not given for out of country schools. The school I am considering is covered though.
Sr. Member
Oct 13, 2008
552 posts
166 upvotes
What's the floating interest rate as of May 2014 for OSAP?
Deal Addict
User avatar
Feb 22, 2013
2028 posts
173 upvotes
Ottawa, ON
zetx wrote: What's the floating interest rate as of May 2014 for OSAP?
Prime + 2.5%
Deal Addict
Mar 22, 2012
2150 posts
382 upvotes
Toronto
Do I have to inform OSAP that I am taking 5 courses during the spring/summer term to stop the interest (Took Jan-Apr off) that starts in June? I'm not taking OSAP for the summer so wasn't really sure how they would know how much courses they think I am taking.
Deal Addict
User avatar
Feb 22, 2013
2028 posts
173 upvotes
Ottawa, ON
johanscott wrote: Do I have to inform OSAP that I am taking 5 courses during the spring/summer term to stop the interest (Took Jan-Apr off) that starts in June? I'm not taking OSAP for the summer so wasn't really sure how they would know how much courses they think I am taking.
Yes, if you're done your period of study (as far as OSAP knows) you will need to file a confirmation of interest-free status (CIFS) form with them through your financial aid office.
Newbie
May 4, 2013
19 posts
5 upvotes
Hi,
I have an OSAP-related question.

I'm about to enter my 5th year of undergrad (I still have 4.0 more credits to complete). Usually when I complete my OSAP application it asks for my signature, my mother's signature, and also asks me to print out a supporting document.
This year however, the system is telling me there are no documents to print out, and did not ask me about my mother's income at all. In addition, I recently changed my bank account and I don't know how to notify OSAP. What's going on and what do I do?

(Sorry if this has already been asked and answered, I wasn't about to go through 457 pages of info, I hope you can understand).
Deal Addict
User avatar
Feb 22, 2013
2028 posts
173 upvotes
Ottawa, ON
romona888 wrote: Hi,
I have an OSAP-related question.

I'm about to enter my 5th year of undergrad (I still have 4.0 more credits to complete). Usually when I complete my OSAP application it asks for my signature, my mother's signature, and also asks me to print out a supporting document.
This year however, the system is telling me there are no documents to print out, and did not ask me about my mother's income at all. In addition, I recently changed my bank account and I don't know how to notify OSAP. What's going on and what do I do?

(Sorry if this has already been asked and answered, I wasn't about to go through 457 pages of info, I hope you can understand).
1. They don't need your parents' info after being out of high school for 4 years.

2. They no longer have documents printed out every year; you should have signed one "Master Student Loan Agreement" (or something similarly titled) for every time you receive OSAP.

3. There's a form to be filed through your financial aid office for changing your banking info.
Member
Dec 24, 2008
306 posts
32 upvotes
Toronto
Hey guys, I have a question. I finished high school in 2007 and went back to upgrade in adult school in 2012. They say the time you first left high school for over 1yr is the last time you attended high school so I put 2007. Now they are asking me if I have been out of high school for at least 4 years. Does OSAP consider adult school high school?
Newbie
Apr 9, 2014
3 posts
Scarborough, ON
Has anyone's osap funding been deposited in their bank account yet?
Member
Aug 27, 2012
389 posts
45 upvotes
Toronto
Not yet, still waiting for school to confirm the enrolment which has been there since last Friday.
Member
Dec 24, 2008
306 posts
32 upvotes
Toronto
TraLaLa wrote: Hey guys, I have a question. I finished high school in 2007 and went back to upgrade in adult school in 2012. They say the time you first left high school for over 1yr is the last time you attended high school so I put 2007. Now they are asking me if I have been out of high school for at least 4 years. Does OSAP consider adult school high school?
I went to the financial aid office and they told me that adult school does not count so I am considered out of high school over four years and will be considered independent. Good because I will not need parents income information.
Sr. Member
May 24, 2013
787 posts
284 upvotes
I see that they no longer need your parents information if you've been out of school for more than four years, why is that? And how will that impact my funding?

Also: In the fall, I have to return for two courses. Meaning, I will have to go part time (after four years of full time school with osap). What are the disadvantages/advantages (if any) to applying for part time OSAP?
Deal Addict
User avatar
Feb 22, 2013
2028 posts
173 upvotes
Ottawa, ON
theBasher91 wrote: I see that they no longer need your parents information if you've been out of school for more than four years, why is that? And how will that impact my funding?
That was always the standard. They assume after being out of high school for 4 years you should be finished your undergraduate degree and thus be getting into your career and being self-supporting.
Also: In the fall, I have to return for two courses. Meaning, I will have to go part time (after four years of full time school with osap). What are the disadvantages/advantages (if any) to applying for part time OSAP?
You can receive less OSAP.

https://osap.gov.on.ca/OSAPPortal/en/A- ... 07095.html
Sr. Member
May 24, 2013
787 posts
284 upvotes
CWatson87 wrote: That was always the standard. They assume after being out of high school for 4 years you should be finished your undergraduate degree and thus be getting into your career and being self-supporting.



You can receive less OSAP.


https://osap.gov.on.ca/OSAPPortal/en/A- ... 07095.html

I've heard that if you apply for part time OSAP, interest will begin accumulate on your full time loan. Is that true?
Deal Addict
User avatar
Feb 22, 2013
2028 posts
173 upvotes
Ottawa, ON
theBasher91 wrote: I've heard that if you apply for part time OSAP, interest will begin accumulate on your full time loan. Is that true?
Where did you read that?
Sr. Member
May 24, 2013
787 posts
284 upvotes
CWatson87 wrote: Where did you read that?
A fellow classmate claimed to have went through that (even though I couldn't find any documentation stating so). That's what is deterring me. If it's false, then I guess there is no harm in applying for part time OSAP, correct?
Deal Addict
User avatar
Feb 22, 2013
2028 posts
173 upvotes
Ottawa, ON
theBasher91 wrote: A fellow classmate claimed to have went through that (even though I couldn't find any documentation stating so). That's what is deterring me. If it's false, then I guess there is no harm in applying for part time OSAP, correct?
I've never heard that either. I would generally avoid the "yeah, it happened to me" rumours and call OSAP yourself to figure it out.
Newbie
Jun 3, 2013
53 posts
10 upvotes
For this section:

[QUOTE]You must provide an affidavit confirming that your child(ren) will be residing with you full-time during your study period and the birthdates of those children.[/QUOTE]

Can I provide them with a family court order outlining that I have custody?
Deal Guru
Jul 20, 2006
12708 posts
6222 upvotes
My son will have an RESP principle of about $12000 which will cover the residence cost and a slight portion of the tuition. Is it beneficial for him to apply for OSAP to get the 30% off the tuition or use bonds that he has maturing.

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