Students

Osap tips/advice/questions

  • Last Updated:
  • Jul 13th, 2017 4:38 pm
Newbie
Jun 16, 2017
2 posts
I was filed as an onterio resident
I toatly miss understood my accountent
In place of residence It did say onterio
Just had my dad's place as my mailing adress.
My bad
But yeah all my taxes went to onterio
Thanks anyway!
Newbie
May 5, 2017
5 posts
My Friends,

I have recently been approved with OSAP (Only Loan and yet to be disbursed). Few days after that, my husband opened a TFSA account and put 5500 in there. The money was earlier in the chequing account. My question is, does this going to affect my OSAP Loan?

Thanks in advance
Deal Addict
Nov 2, 2003
1051 posts
26 upvotes
My daugher filed for OSAP and was told that she needs my Notice of assessment. Mcmaster has deadline of Jul 14 for the documentation and i just netfiled my taxes now. how long will it take to get my Notice of assessment? will My daugher OSAP be held up if i dont provide by Jul 14th?
if you dont have an answer, dont repond to my thread.
I need answers, and thats why i use redflagdeals forums.
Deal Addict
Jan 21, 2014
1818 posts
408 upvotes
if you do it now, the chances of it being assessed by July 14th is a bit small (may still possible). Create an account with CRA, login and check. If it's there, you can download it right away. Are you sure they need a copy of notice of assessment? Last time my daughter applied for undergrad OSAP (a couple of years back), they asked for line 150 (or something like that). if so you can use your number from your tax return. If you file after July 14th, you may not be able to pay her tuition fee using OSAP, e.g. you pay it first and get the OSAP money later. We always applied for OSAP late every year (around late August or beginning of September) and that was fine. OSAP deadline for Sep 2017 school year is like way later, probably beginning of 2018 even
Member
Aug 10, 2015
200 posts
105 upvotes
Toronto
Are you sure July 19th is the deadline for OSAP? and not McMaster's first installment payment? Because I always (like poster above) filled late August and got money once school started. But also my school has a deadline for people who are paying out of pocket mid-summer. However, if you get OSAP they will put a deferment on your account and won't get charged a late fee.
Deal Addict
Jul 18, 2016
1483 posts
499 upvotes
Mine was assessed almost immediately. If you log into your CRA account, you will see an interim assessment - PERHAPS, if you're lucky. The official one isn't available for over a week. Ask McMaster if they'll accept a copy of your interim assessment, if its available.
Newbie
Jul 11, 2017
7 posts
4 upvotes
jacobe wrote:
Apr 23rd, 2017 2:00 pm
Anybody here who applied get the free tuition thing this coming September? I am curious on how this new rule going to be implemented.
I'm getting the "Free" Tuition as well. Basically from what I've heard, the Ontario government is amalgamating a bunch of their grants together, so instead of "Low Income Family", "Access Grant" and what not into one super grant for "Free" Tuition. So you still apply for OSAP as normal and if you qualify they give you grants equal to "the average tuition cost", so in my case for example, despite being eligible for the free tuition, I do not get Free tuition. My tuition totals approximately $8,812 while I am getting $8,700 in grants (And my tuition doesn't include all mandatory fees, that would bring it closer to $9,500, really not free then!!). To quote OSAP, it states as follows about the amalgamation of grants;
"To help more students qualify for grants and access the student loan system, the government will create a single major upfront grant — the Ontario Student Grant (OSG), starting in the 2017–18 school year. This will be done by redirecting 100 per cent of the funding from the 30% Off Ontario Tuition grant, Ontario Student Opportunity Grant, Ontario Access Grants and other grants offered by OSAP."
Another nice little note in the OSAP reforms includes this;
"Students from families with incomes of less than $50,000 will have no provincial student debt."
Deal Addict
User avatar
Nov 22, 2008
2030 posts
106 upvotes
North York
johnb56789 wrote:
Jul 12th, 2017 8:07 am
I'm getting the "Free" Tuition as well. Basically from what I've heard, the Ontario government is amalgamating a bunch of their grants together, so instead of "Low Income Family", "Access Grant" and what not into one super grant for "Free" Tuition. So you still apply for OSAP as normal and if you qualify they give you grants equal to "the average tuition cost", so in my case for example, despite being eligible for the free tuition, I do not get Free tuition. My tuition totals approximately $8,812 while I am getting $8,700 in grants (And my tuition doesn't include all mandatory fees, that would bring it closer to $9,500, really not free then!!). To quote OSAP, it states as follows about the amalgamation of grants;
"To help more students qualify for grants and access the student loan system, the government will create a single major upfront grant — the Ontario Student Grant (OSG), starting in the 2017–18 school year. This will be done by redirecting 100 per cent of the funding from the 30% Off Ontario Tuition grant, Ontario Student Opportunity Grant, Ontario Access Grants and other grants offered by OSAP."
Another nice little note in the OSAP reforms includes this;
"Students from families with incomes of less than $50,000 will have no provincial student debt."
Thanked. So my understanding is that in your scenario: $9500 - $8700 (OSAP grants) = $800 (what you really owe in loans or have to come up with yourself for the school year). That doesn't seem too bad. Tuition isn't exactly free but it sure does cost much less than what previous students had to borrow. I owed like $3K in my first year. Never had to borrow for the remaining years so I didn't rack up a lot of student debt. Is this your first time going to university and your family income is less than $50,000?

Anybody here who is applying as a mature student? I read that you have to be out of school for one full calendar year to qualify for this new funding system. Or is there someone who is getting a second degree? Is the funding similar?
Newbie
Jul 11, 2017
7 posts
4 upvotes
jacobe wrote:
Jul 12th, 2017 6:37 pm
Thanked. So my understanding is that in your scenario: $9500 - $8700 (OSAP grants) = $800 (what you really owe in loans or have to come up with yourself for the school year). That doesn't seem too bad. Tuition isn't exactly free but it sure does cost much less than what previous students had to borrow. I owed like $3K in my first year. Never had to borrow for the remaining years so I didn't rack up a lot of student debt. Is this your first time going to university and your family income is less than $50,000?

Anybody here who is applying as a mature student? I read that you have to be out of school for one full calendar year to qualify for this new funding system. Or is there someone who is getting a second degree? Is the funding similar?
Yes, that is my scenario, however, it doesn't include my living expenses and other school expenses. In total, an estimate that I got from OSAP said I am eligible for $14,800, with (my mistake in the first post) $7,900 Grants and $6,900 Loans (But this could change once I've applied). The $14,800 does not fully cover, I have to provide about $2000 or so which I do through my CPP/ Trillium and HST benefits. Right now, almost at the start of my third year, I'm sitting at about $13,000 in OSAP debt with more to come. It is my first time at university and family income of $35,000 approx.
Newbie
Jul 15, 2017
1 posts
Hey everyone my name's is Greg. I was wondering if anyone could point me in the right direction here. I have to complete a credit review form for OSAP and I'm beyond stressed out over it. I'm hoping to find some sort of assistance completing it. Are there any guides or resources out there for this? Thanks in advance!

Top

Thread Information

There is currently 1 user viewing this thread. (0 members and 1 guest)