Students

OSAP and Parents income

  • Last Updated:
  • Jan 3rd, 2020 8:33 pm
[OP]
Member
Mar 6, 2010
411 posts
146 upvotes
Brampton

OSAP and Parents income

I was recently told that OSAP eligibility is tied to family income and that families making close to or more than 100K per year are not eligible to sign as guarantors for their kids' osap loans.
Is this true?
Can someone please elaborate a bit? Thanks in advance for your time.
2 replies
Sr. Member
Jun 12, 2008
978 posts
426 upvotes
Ripley
OSAP eligibility is based on family income. Unless the student has been out of highschool for 6 years or more.
The 100K part makes no sense so I am going to say no. If the student's parents are making over 100K the student will receive less OSAP funding. I don't have any experience with OSAP loans because my oldest paid his loans back before he had to start making payments. OSAP has a tonne of information and calculators to estimate the amount of OSAP a student will get on their website.
Deal Guru
User avatar
Dec 7, 2009
13823 posts
1335 upvotes
luking wrote: I was recently told that OSAP eligibility is tied to family income and that families making close to or more than 100K per year are not eligible to sign as guarantors for their kids' osap loans.
Is this true?
Can someone please elaborate a bit? Thanks in advance for your time.
I don't know if it's still true, but you used to be able to write a letter stating your parents are unwilling to help with your education. This seems logical because in my case, my mom had a well-paying job but had just declared bankruptcy and had nothing to pitch in toward my education.
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