Osap tips/advice/questions

Sr. Member
Mar 6, 2015
683 posts
zeddy wrote:
How about TFSA then?
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Sr. Member
Jun 12, 2008
979 posts
cybercavalier wrote: How about TFSA then?
It will depend on how long until you need the money to repay to OSAP. What kind of investment are you looking at inside the TFSA? How much money? and for how long? With that information its probably better to post in Personal Finance for advise.
May 7, 2017
23 posts
random question but how many OSAP-eligible students voted for Ford. I mean are there actual demographic numbers.
Nov 27, 2018
1 posts
Need Help:

I was a full-time student of post grad certificate course. I have passed one semester (all course) and was enrolled in final semester. Fortunately, I found job and was hired in Ottawa. Due to relocation I can not continue my studies therefore I withdrew from the semester and my fee was refunded.

I am willing to know if I completely withdraw from program how would my OSAP be impacted? would my first semester would also be converted into loan??
Jan 24, 2017
25 posts

In OSAP application form, it asks parent’s Foreign income/Canadian non-taxable income, especially from TFSA account as below:
• interest, dividends or capital gains from tax-free savings accounts (TFSA) regardless of the original source of the income

My question is how to calculate capital gain of securities from TFSA if there is no selling in a specific year eg. 2018?
Example 1, I bought AAPL 2015, but I did NOT sell it in 2018, how to calculate the capital gain in 2018?
Example 2, I bought AAPL 2015, I DID sell it in 2018, how to calculate the capital gain for 2018 part?
Example 3, with up and down of the market, my TFSA balance goes up in 2017(+1000), but down in 2018(-1000). I have to claim a big capital gain in 2017(+1000), but 0 in 2018. The capital gain in 2017 may reduce my OSAP, but the loss in 2018 does NOT increase my OSAP. It seems unfair.
Jul 8, 2019
47 posts
Thank goodness I worked hard and found myself a full time coop this summer. Might not have been able to go back to school after Ford cut $6000 from my total OSAP amount
Deal Addict
User avatar
Jan 23, 2007
1003 posts
Kingston, Ontario
For the cap if 20% of family income for repayments, is that calculated using gross, or net income?
Deal Addict
Nov 26, 2011
1055 posts
is there a maximum $ or hours you can work while receiving osap?

saw someone ask on facebook group but i never heard of anything

and doing a search i could only find info from like 2015 where they said $100 a week?
Sr. Member
Jul 20, 2017
563 posts
joeliang636314461784256000 wrote: Wow, they cut grants almost in half and less loans.
If you look carefully what is left is the federal grants. The Ontario grants have been totally cut in my case, although there is not too much change in income, and I have an extra sibling in school ( due to the change of the out of school criteria from 4 to 6 years)
Mar 29, 2016
49 posts
Hi there, I have few questions
1. if I get enrolled in full time graduate certificate course in university for 32 weeks long course and where about 80% course can be done online , am i eligible to get OSAP?
2. Can I pay off my loan portion separately for federal and ontario one . Coz new rules federal loan has grace period
3. If I have cash in chequing account, if have TFSA and some RRSP balance then how is the impact on OSAP grant and loan? I don't have right now just calculating how it is wise to invest there before OSAP application
4. If my income after Osap received is below $11000 then nothing will happen or recalculated. Am I right ?
5. If my wife is earning and also getting child benefit can I get maximum Osap
6. If child doesn't go childcare so no spending or less spending than claimed cost (probable)though filled up in form during study period childcare cost will be something amount then is it okay or will be recalculated?
7. I am wondering in osap estimator if I select private career college for study it shows more grant. Why it's like this compare to other institutions

Aug 1, 2019
1 posts
I’m wondering what to use as the basis for yearly gross income. I am married with a dependent, out of school 18 years. In 2018 my income was about $50,000 as I was working full-time. In 2019 my income is from January to August, about $16,000 from EI for parental leave. From September 2019, when I start school, my income will be $0 until I am done school (I will provide full-time care to my 2 year old over the summer).
So do I input my 2018 income?
Or my expected 2019 income?
Or my expected 2020 income?
Thank you in advance.
Feb 24, 2018
329 posts
Is it possible to pay off the provincial portion of your loan before paying off the federal portion? The interest rate on the provincial portion will be prime + 1% while the interest on the federal portion will just be prime starting next year. I'd rather pay off the higher interest provincial loan in a lump sum at that point than be sending equal amount monthly payments to federal + provincial.
Sr. Member
Jul 20, 2017
563 posts
I need some advice: I have 2 children receiving OSAP. They both are living at home, are dependents of parents for OSAP, everything is the same.
One has tuition of $8000 and the other $16000. They are both receiving the same OSAP amounts.
The only answer from financial office is "It's fine, don't worry, be happy" . How is this explainable?
Any expert out there?
Jul 30, 2018
26 posts
From my experience being a student, there is a cap for the amount of OSAP that they will give out. My friends in super expensive programs would get a line of credit to supplement their OSAP.