COURSE CALENDARS

ONTARIO STUDENT ASSISTANCE PROGRAM (OSAP)

Applying for OSAP

Receiving OSAP Funds

Renewing Previous OSAP Loans

Maintaining OSAP Loans

Changing OSAP Information

Requesting Tuition Fee Refunds

Repaying Student Loans

About OSAP

The objective of the Ontario Student Assistance Program (OSAP) is to assist full-time and part-time students from lower and middle income families in meeting the costs of post-secondary education. The purpose is to supplement, not replace, the financial resources that students (and their families, if applicable) are expected to contribute. Detailed OSAP information (including an OSAP Step by Step guide), applications and planning tools are available on the OSAP website (osap.gov.on.ca).

In addition, staff in the Financial Aid & Awards office can advise students with respect to their financial situation, provide referrals to the appropriate financial assistance programs, and assist them with securing the resources required to meet their post-secondary education costs.

The Financial Aid & Awards office and the National Student Loans Service Centre will host several information sessions throughout the year on various topics to assist students with understanding and managing their student loans.

Applying for OSAP

Eligible OCAD U Programs
The following OCAD U Programs have been approved by the Ministry of Training, Colleges and Universities as being eligible for OSAP funding:

Non-Eligible OCAD U Programs
The following OCAD U Programs are NOT approved for OSAP funding by the Ministry of Training, Colleges and Universities:

Application Deadlines
All students beginning (or returning to) studies in September 2011 are encouraged to apply as soon as possible, but no later than the final deadlines below, regardless of whether or not they have registered for their courses.

Fall & Winter Semesters: Recommended deadline: Friday, June 17, 2011 for new students coming to OCAD U directly out of high school who want to be considered for the Queen Elizabeth II Scholarship.

Fall & Winter Semesters: Recommended deadline: Wednesday, July 20, 2011 for new and returning students to guarantee that funds will be available in September. 

Fall & Winter Semesters for Full-time OSAP: Final deadline: Friday, January 20, 2012.  Note that Fall/Winter applications received from Wednesday, October 19, 2011 to Friday, January 20, 2012 will be pro-rated based on the number of weeks remaining in the school year.

Fall Semester only for Full-time OSAP: Final deadline: Thursday, October 6, 2011
Fall Semester only for Part-time OSAP:  Final deadline: Friday, October 28, 2011

Winter Semester only for Full-time OSAP: Final deadline: Wednesday, February 8, 2012
Winter Semester only for Part-time OSAP: Final deadline: Friday, March 9, 2012

Summer Semester:  Final deadline: TBA

Application Procedures
In general, students who are Canadian Citizens or Permanent Residents or Protected Persons who: 1) have resided in Ontario for at least 12 months prior to starting post-secondary studies, 2) will be enrolled in the degree or diploma program and 3) will be taking at least 60% of a full course load (1.5 credits in each semester) are eligible to apply. There are two ways to apply:

All supporting documents, including the Declaration, Signature and Consent Forms, must be submitted to the Financial Aid & Awards office at OCAD U for approval and final processing. NOTE: faxed forms cannot be accepted. Applications take approximately four weeks to receive approval and for notification to be received (by mail or email, as requested).

Requesting a New OSAP Password and/or Retrieving your OSAP Access Number (OAN)
Students who have forgotten their OSAP password and/or need to retrieve their OAN can visit the Financial Aid & Awards office for assistance. As per Ministry regulations, students must show one document proving that your Social Insurance Number is your own.  For example, you may present your Social Insurance Number card (a legible photocopy is acceptable) or an official Government of Canada document that indicates your Social Insurance Number (e.g., a Canada Revenue Agency Notice of Assessment, a Canada Pension Plan Statement of Contributions, or a Confirmation of Social Insurance Number from Service Canada), along with one piece of valid Photo ID issued in Canada by the federal or a provincial or territorial government (a legible photocopy is acceptable). Examples of acceptable ID are: a valid driver’s licence, passport, provincial health card with photo, permanent residency or citizenship card.

Receiving OSAP Funds

Once an OSAP application has processed, the OSAP funds are forwarded to the Financial Aid & Awards office and must be picked up in person each semester. OSAP funds are normally payable in two installments: the first installment, representing approximately 60% of the total entitlement, is normally available in September. The remaining funds are available in January. Whenever funds are available for a student to pick up they will receive an email from the Financial Aid & Awards office.

Once the Financial Aid & Awards office has verified student registration and income information, the authorized loan documents must then be forwarded to the National Student Loan Service Centre for processing. NSLSC representatives will be onsite at the university during peak periods. Students picking up loans in non-peak periods must take their loan documents to a designated Canada Post Outlet, which will in turn forward their loan documents to the NSLSC for processing. More information about loan negotiation is available from the Financial Aid & Awards office, the CanLearn website (www.canlearn.ca) or the National Student Loan Service Centre, Public Institution Division at 1-888-815-4514.

Fees Payment Using OSAP Funds
Any tuition fees owing will be deducted from the OSAP loan document at the time OSAP funds are disbursed, including situations where students are deferring their fees against their loan (refer to Tuition & Fees, Domestic Tuition). The amount to be paid from the loan document will be noted in the “Instructions” area. This amount will be remitted directly to the school. The National Student Loan Service Centre will then deposit the remaining amount (if any) into the bank account identified. In the same way that student loans are payable in two installments, students enrolled in more than 3.0 credits in the academic year may choose to pay their tuition fees in two installments. Refer to the Tuition & Fees, Paying By Installment page for more info.

Winter 2012 Disbursement Schedule
We will be disbursing OSAP funds at 51 McCaul Street, Monday through Friday from 9 a.m. to 4 p.m. daily, beginning Wednesday, January 4, 2012 From January 4 to January 20, a representative from the National Student Loan Service Centre will be onsite for your convenience. We highly recommend that you pick up your OSAP during this time.

We will see students on a first- come, first-served basis, however we are only able to see a limited number of students each day (approximately 120 to 150 maximum students per day). We will be issuing a limited number of tickets for that day beginning at 8:45 a.m. Please arrive early to ensure that you will receive a ticket to be seen on that day. Once we have issued the maximum number of tickets, we will ask that you please come back on another day that is convenient for you. Therefore, we recommend that you arrive by 10:00 a.m. in order to receive a ticket for the day. Based on your ticket number, we will give you an estimate as to the time of day we expect that you will be seen.

Please ensure that you have completed your registration in your classes and that you bring the required identification (Social Insurance Number card or acceptable equivalent AND valid government-issued photo identification) as well as your banking information (VOID cheque OR full name and address of your bank, account number and transit number) in order for your funds to be released and processed.

Queen Elizabeth II Aiming for the Top Scholarship Recipients
Students who have been awarded a Queen Elizabeth II Aiming for the Top Scholarship will have the full value of the scholarship credited in August towards their 2011/2012 tuition fees account at OCAD U. Recipients of this award must maintain their full-time student status and a minimum overall average of 80% in order to have this award renewed in the following year. For further information about this award, refer to the Ministry of Training, Colleges and Universities information sheet.

Renewing Previous OSAP Loans

Students who previously received Canada-Ontario Student Loans, and who receive new student loans prior to the end of October 2011, will have their previous loan status automatically updated and placed in good standing with the National Student Loans Service Centre.

Students who previously received Canada and/or Ontario student loans and:

Students whose loans were received through another province or territory may have to follow a different process in order to update previous loans. Contact the Financial Aid & Awards office for specific information.

Maintaining OSAP Loans

Address Changes
Mailing address changes can be submitted online through the OSAP website, or by completing a form available from the Registrarial Services Information Desk. OSAP students should also ensure that they contact the National Student Loans Service Centre at 1-888-815-4514 to advise them of the address change.

OSAP Courseload Requirements
Program students (degree or diploma) on OSAP must maintain a minimum course load of 60% (1.5 credits each semester) in order to remain eligible for funding. Students who drop below this threshold are considered withdrawn for OSAP purposes. Students who indicated on their OSAP application that they would be taking a 100% course load (2.5 credits each semester) may find that their OSAP entitlement has changed if they dropped courses in either semester. A student’s course load is reported on a per-semester basis for their OSAP assessment, and cannot be averaged over two semesters. Students who have permanent disability status must maintain a minimum course load of 40% (1.0 credits in each semester) in order to remain eligible for OSAP funding and must provide appropriate documentation to the Financial Aid & Awards office.

OSAP Academic Progress Requirements
It is a fundamental requirement of the OSAP program that OSAP recipients maintain satisfactory academic progress in the courses for which financial assistance has been provided. Failure to obtain passing grades in at least 60% of a full course load, multiple course drops, program switches, early withdrawals, school-imposed academic restrictions and lack of career direction are considered as unsatisfactory academic progress by the Ministry. OSAP students who do not maintain satisfactory academic progress may be placed on OSAP probation the following year or may be ineligible for further assistance.

Changing OSAP Information

It is important for students to understand that any changes to the information reported on the original OSAP application will affect their OSAP assessment. All changes must be reported in writing to the Financial Aid & Awards office, including changes to: course load per term, marital status, living situation, income from employment or other sources. It is recommended that, where possible, the Financial Aid & Awards office be consulted prior to any changes being made.

OSAP Reviews and Reassessments
Normally, students will have the remaining 40% of their total OSAP entitlement available for pick up in January. However, students may receive a different amount (more or less) if there was a change to any of the information on which the original OSAP assessment was based. This would include changes to: student resources (summer or study period), changes in course load, or income (as verified with Canada Revenue Agency). Students whose OSAP entitlements are reviewed will have received letters (called a Notice of Reassessment) advising them of the changes.

OSAP Appeals
The Ministry of Training, Colleges and Universities uses standardized criteria to determine eligibility for OSAP and to assess financial need (based on the information provided on the application). Special circumstances may be considered on an individual basis. Any student who feels that their situation warrants an appeal should contact the Financial Aid & Awards office to have their specific situation reviewed. Appeals may be submitted until Friday, February 17, 2012.

Income Verification
All income reported on the OSAP application is verified with Canada Revenue Agency once the appropriate tax year has been filed and processed. This includes student, parental and spousal income. In some cases, previous OSAP years may be affected, resulting in an overpayment for that year. In other cases, income verification occurs before the second term entitlement, and may affect (either positively or negatively) the amount of money disbursed in the second term. If an overpayment occurs in the current year as a result of income verification, no further funding will be forthcoming.

OSAP Overpayment Policy
An overpayment in OSAP occurs when a student has received more money than they were entitled to in any particular year. Current OSAP policy dictates that in cases where a student has an overpayment of more than $250 per year for more than two years, that the student will be required to pay the full amount of the most recent overpayment before the student will receive any further funding through OSAP. Overpayments can result from any number of changes to the student account; most result from course load changes, early withdrawals and income verification.

Requesting Tuition Fee Refunds

Requests for tuition fee refunds should be directed to the Finance office. Refer to the Refunding Fees on Withdrawal page for detailed information.

All tuition fee refunds are subject to the approval of the Financial Aid & Awards office. In cases where students have current overpayments on their OSAP file (where they have received more money than they were entitled to due to any type of change), tuition fee refunds may be remitted to the National Student Loan Service Centre (NSLSC) to pay down the OSAP overpayment rather than being issued to the student directly. Students will receive copies of any documentation sent to the NSLSC. In some cases, students who have received scholarships or bursaries through any of the OCAD U-administered programs (internal and external programs, including the Queen Elizabeth II Aiming for the Top Scholarship program) may have part or all of the bursary or scholarship recovered through the tuition fee refund and the tuition fee refund payable to the student may be reduced.

Repaying Student Loans

Loan consolidation occurs the first day of the seventh month after the end of the latest confirmed full-time study period, and the first payment is due on the last day of that month. In the 2010/2011 academic year, most OCAD U students have a study period end date of April 21, 2011, therefore their loans will go into repayment in December with the first payment being due approximately November 30, 2011. Students who return to full-time studies in September 2011 will need to update their loan status (either by negotiating new loans before the end of October or by submitting a Continuation of Interest-Free Status/Confirmation of Enrollment Form to the Financial Aid & Awards office), or their previous loans will go into repayment.

Students who have completed their studies, or who are not returning to full-time studies, would begin repayment. Loan payments are calculated based on: the total amount of loan principal as of the consolidation date (plus any accrued interest), the interest rate at the time of consolidation and the term of the loan (length of repayment). Students should ensure that the National Student Loans Service Centre, and any other loan servicers (i.e., banks for older student loans), have their current address on file so that they receive important information regarding their loan repayment schedule.

Students who are scheduled to begin repayment, but who cannot afford their payments should contact the National Student Loan Service Centre prior to missing any payments to avoid negatively affecting their credit rating. Programs such as Interest Relief and Revision of Terms, or the new Repayment Assistance Program (effective August 1, 2009) are available to either defer or reduce the required monthly payment. More information on these programs is available on the CanLearn website (www.canlearn.ca) or by contacting the National Student Loan Service Centre (1-888-815-4514).

The Financial Aid & Awards office and the National Student Loans Service Centre will host some repayment information sessions throughout the year to assist students with understanding and managing their student loans.

Last Modified:1/24/2012 12:57:32 PM


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