Students

Osap tips/advice/questions

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User avatar
Jul 11, 2008
4368 posts
1508 upvotes
Away from RFD idiots
theBasher91 wrote: Hello,

This fall, I have the option of going full time (3 classes) or part time (2 classes). I only have two classes left to take before I graduate, however, I have read that my OSAP funding will significantly decrease. I was thinking of retaking a class to increase my mark, which will bring me to full time. Is there a significant funding difference in these two scenarios?
yes. part time loan will be MUCH less than full time load, even with 1 class difference. probably like 2k vs 5k
Sr. Member
May 24, 2013
787 posts
284 upvotes
mathiewannabe wrote: yes. part time loan will be MUCH less than full time load, even with 1 class difference. probably like 2k vs 5k
Good to know. And I heard if I go to part time OSAP after already receiving full time OSAP, interest will begin to accumulate on the full time portion. Then, say, I switch back to full time, interest will accumulate on the part time portion. I guess full time seems like the better option for me. Thanks.
Member
May 31, 2010
405 posts
22 upvotes
I filled out my OSAP form on June 1st and it told me to check back in mid-June for an update. Is the decision/processing of the application really that fast?
Deal Guru
Jul 20, 2006
12708 posts
6222 upvotes
My son has an RESP that will cover him for about 2 years of a degree program. Since he has the RESP I am assuming the OSAP will not be approved in the first 2 years.
Would he still be eligible for the 30% off tuition grant?
Newbie
Aug 25, 2012
80 posts
16 upvotes
Toronto
I just submitted my 2014-2015 osap renewal app for full time students. Usually after I submitted , there r suppose to be documents(Signature pages) that I need to print and take/mail to my school's financial offiice, but somehow it said no documents required this time, Is this normal?
Deal Addict
Dec 21, 2012
2058 posts
334 upvotes
Toronto, ON
Min2606 wrote: I just submitted my 2014-2015 osap renewal app for full time students. Usually after I submitted , there r suppose to be documents(Signature pages) that I need to print and take/mail to my school's financial offiice, but somehow it said no documents required this time, Is this normal?
Yes, if you applied the year(s) before.
Sr. Member
May 24, 2013
787 posts
284 upvotes
Min2606 wrote: I just submitted my 2014-2015 osap renewal app for full time students. Usually after I submitted , there r suppose to be documents(Signature pages) that I need to print and take/mail to my school's financial offiice, but somehow it said no documents required this time, Is this normal?
Also, if you're more than 4 years out of high school, your parents income/signatures no longer matter.
Sr. Member
Jun 19, 2009
514 posts
241 upvotes
Ottawa
I will have finished an 8 month work term in August and I used the earnings to open a TFSA. Would I include the TFSA balance into "other assets" even though I will disclose my earnings in the Finance section of the application?

I guess in other words, do you have to include savings from your pre-study period into "other assets"? Thanks
Member
User avatar
Aug 4, 2012
209 posts
117 upvotes
Toronto
Attending ryerson what do i put in "What percentage of a full course load will you be taking?"
Semester 1:
MTH 207 Calculus and Computational Methods I
ACC 110 Financial Accounting
CPS 118 Introductory Programming for Scientists
ECN 104 Introductory Microeconomics
SCI 180*Orientation
PCS 120 Physics I

Semester 2:
MTH 310 Calculus and Computational Methods II
FIN 300 Managerial Finance I
CMN 279 Introduction to Professional Communication
PCS 130 Physics II
LIBERAL STUDIES: One course from Table A.

I already took MTH 207, MTH 310, Liberal Table A course last year. So I will take 5/6 courses in first semester and 3/5 courses in second semester. So 8/11 courses. Do i put 73%?
Member
User avatar
Feb 2, 2013
275 posts
92 upvotes
Toronto
My son completed his OSAP application and was give an estimate for loan and grant.
What is the split between loan and grant? Is there any way of telling in advance of final approval?

thanks for any insight
Deal Addict
User avatar
Feb 22, 2013
2028 posts
173 upvotes
Ottawa, ON
Osacia wrote: My son completed his OSAP application and was give an estimate for loan and grant.
What is the split between loan and grant? Is there any way of telling in advance of final approval?

thanks for any insight
What do you mean "the split"?
Deal Expert
Mar 25, 2005
22691 posts
3682 upvotes
Osacia wrote: My son completed his OSAP application and was give an estimate for loan and grant.
What is the split between loan and grant? Is there any way of telling in advance of final approval?

thanks for any insight
Read the estimate, it lists each funding source.
Deal Expert
Mar 25, 2005
22691 posts
3682 upvotes
FireChip wrote: Attending ryerson what do i put in "What percentage of a full course load will you be taking?"
Semester 1:
MTH 207 Calculus and Computational Methods I
ACC 110 Financial Accounting
CPS 118 Introductory Programming for Scientists
ECN 104 Introductory Microeconomics
SCI 180*Orientation
PCS 120 Physics I

Semester 2:
MTH 310 Calculus and Computational Methods II
FIN 300 Managerial Finance I
CMN 279 Introduction to Professional Communication
PCS 130 Physics II
LIBERAL STUDIES: One course from Table A.

I already took MTH 207, MTH 310, Liberal Table A course last year. So I will take 5/6 courses in first semester and 3/5 courses in second semester. So 8/11 courses. Do i put 73%?
If 6 courses is a full load, yes.
Member
User avatar
Feb 2, 2013
275 posts
92 upvotes
Toronto
Kasakato wrote: Read the estimate, it lists each funding source.
Nope, the estimate says " loan and grant" on one line.
It does not say loan, then grant
This information is important in determining how much has to be repaid
Deal Addict
Aug 7, 2011
1170 posts
1016 upvotes
Applied for part-time summer school OSAP. Anyone know what a "Funding Certificate" is?
Deal Expert
Mar 25, 2005
22691 posts
3682 upvotes
Osacia wrote: Nope, the estimate says " loan and grant" on one line.
It does not say loan, then grant
This information is important in determining how much has to be repaid
Are you using the online public estimate? Or the one once you sign up and apply?
Member
User avatar
Feb 2, 2013
275 posts
92 upvotes
Toronto
Kasakato wrote: Are you using the online public estimate? Or the one once you sign up and apply?
the one you sign up, and apply.
Member
May 31, 2010
405 posts
22 upvotes
Hey,

I want to drop a course (I'm taking 4), but want to drop to 3. Would this impact my osap funding?
Newbie
Dec 12, 2007
27 posts
5 upvotes
Montreal
qpalzm wrote: Hey,

I want to drop a course (I'm taking 4), but want to drop to 3. Would this impact my osap funding?
Yep, it will reduce it.

In one year, I dropped a course and lost $600 off my OSAP (it was essentially equivalent to the cost of that 3-credit course).

Don't know exactly how the formula for OSAP works but I'm assuming, based on my experience, the amount they take off is based on cost per course.
Deal Expert
Mar 25, 2005
22691 posts
3682 upvotes
Osacia wrote: the one you sign up, and apply.
Took a look at it and the initial estimate does not have a breakdown. You must wait for the funding summary to appear once the application is processed.

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