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is OSAP really the best idea? Options ▼
AimForTheStars
#21 Posted : Saturday, March 05, 2011 9:12:00 PM
Rank: Frosh


Joined: 1/14/2011
Posts: 22
I'm not applying for it for that reason.I don't want to regret it in the end and have to pay back a lot more.
JessaBrown
#22 Posted : Monday, March 21, 2011 7:36:42 PM
Rank: Frosh


Joined: 3/19/2011
Posts: 32
ARMY101 wrote:
heesoup wrote:
For applying to OSAP, would my high school explain it to me like OUAC and give me pin numbers and all that, or is the application process done individually without the school's guidance?

It's done on your own time, online, when it comes out in May (or so) and it's due by June.



The OSAP application is available now. I've already applied and received an estimation. They just have to run the credit check and etc. to determine the final amount.
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tuzzer
#23 Posted : Wednesday, March 23, 2011 2:15:00 AM
Rank: Frosh


Joined: 3/22/2011
Posts: 22
Why would you regret getting OSAP??

No matter what it's still interest-free (during school) loan. It won't hurt your chance of getting bursary or scholarship. They will consider giving you grant or bursary before the loan.

If you don't have money to pay for tuition, then you don't have a choice and you need it (but you also get more grants).

If you later find out that don't need it, then they money is still there and it's earning interest in your bank or other investment you make. Also, in case of emergency, at least you have low-interest money to use.

You just need to control yourself and not overspend just because you have a lot of money in the bank. What I do is that I have one account set up specifically for tuition and other school-related necessary expenses.
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heesoup
#24 Posted : Wednesday, March 23, 2011 7:25:47 AM
Rank: Student Body Vice-President




Joined: 12/23/2010
Posts: 971
I'm getting it because OSAP will grant one with an amount that you probably don't have to pay back. So some free money available!
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leah93
#25 Posted : Monday, April 04, 2011 8:48:13 AM
Rank: Frosh




Joined: 1/3/2011
Posts: 49
Just a question about OSAP, and don't say check the website it's not very helpful ;)

Anyways...if you have been accepted, do you have to decide on one program and actually accept their offer before you apply for OSAP???

Thanks! :)
ARMY101
#26 Posted : Monday, April 04, 2011 9:32:30 AM
Rank: Grand Poobah


Joined: 3/3/2010
Posts: 19,406
leah93 wrote:
Just a question about OSAP, and don't say check the website it's not very helpful ;)

Anyways...if you have been accepted, do you have to decide on one program and actually accept their offer before you apply for OSAP???

Thanks! :)

No, you can switch the programs after you've applied for OSAP, but they'd have to recalculate everything for you going to the new program as opposed to the old one, so it might mean you wait an extra few weeks for your money.
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Fawlkes
#27 Posted : Monday, April 04, 2011 5:09:04 PM
Rank: Senior Student




Joined: 3/26/2011
Posts: 69
I may be wrong, but I believe you can take the grant without taking the loan, so while it may not be a ton of money, some is better than nothing and you don't have to pay back a grant. Even if you do take the loan, the most you have to repay is $7500 (per year)because of the new loan forgivness policy.
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Emlily
#28 Posted : Friday, April 08, 2011 9:15:32 PM
Rank: Grand Poobah


Joined: 3/3/2010
Posts: 19,406
I would say OSAP is better than a student loan from a bank. The payment plans are much better for a student. It you control your money well you can pay it off with relative ease. Though there are always exceptions where you may encounter issues with having to pay it over a longer period of time.
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mikey12y
#29 Posted : Saturday, April 09, 2011 10:40:02 PM
Rank: Senior Student


Joined: 3/21/2011
Posts: 76
Does anybody know when OSAP's due? or when you actually get the money?
Emlily
#30 Posted : Wednesday, April 13, 2011 6:05:32 PM
Rank: Grand Poobah


Joined: 3/3/2010
Posts: 19,406
The due date depends on your program and getting the money depends on when you apply and on your school. See the website for information: https://osap.gov.on.ca/O...AP/GettingOSAP/index.htm
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jessicadonnan
#31 Posted : Sunday, April 17, 2011 12:57:39 PM
Rank: Senior Student




Joined: 3/9/2011
Posts: 127
I have an OSAP estimate of 7800 am I able to apply for financial need scholarships if that is my estimate?
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ARMY101
#32 Posted : Sunday, April 17, 2011 1:00:56 PM
Rank: Grand Poobah


Joined: 3/3/2010
Posts: 19,406
jessicadonnan wrote:
I have an OSAP estimate of 7800 am I able to apply for financial need scholarships if that is my estimate?

Yes, but you'll have to claim that $7800 as money available to you, and vice versa to report any scholarships you receive to OSAP.
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jessicadonnan
#33 Posted : Sunday, April 17, 2011 1:53:24 PM
Rank: Senior Student




Joined: 3/9/2011
Posts: 127
ARMY101 wrote:
jessicadonnan wrote:
I have an OSAP estimate of 7800 am I able to apply for financial need scholarships if that is my estimate?

Yes, but you'll have to claim that $7800 as money available to you, and vice versa to report any scholarships you receive to OSAP.


So bascially if I receieve a scholarship my OSAP will go down and its just an estimate hey said they wont have it processed until June so am I still allowed to go by that estimate #
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ARMY101
#34 Posted : Sunday, April 17, 2011 2:52:53 PM
Rank: Grand Poobah


Joined: 3/3/2010
Posts: 19,406
mikey12y wrote:
Does anybody know when OSAP's due? or when you actually get the money?

You should apply soon (June at the latest) and you get the money around the end of September/early October.
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ARMY101
#35 Posted : Sunday, April 17, 2011 2:54:56 PM
Rank: Grand Poobah


Joined: 3/3/2010
Posts: 19,406
jessicadonnan wrote:
ARMY101 wrote:
jessicadonnan wrote:
I have an OSAP estimate of 7800 am I able to apply for financial need scholarships if that is my estimate?

Yes, but you'll have to claim that $7800 as money available to you, and vice versa to report any scholarships you receive to OSAP.


So bascially if I receieve a scholarship my OSAP will go down and its just an estimate hey said they wont have it processed until June so am I still allowed to go by that estimate #

It's an estimate, so yes, go by that estimate. In September, when you go to pick up the money, that is when they will need a solid number and you'll receive a solid estimate. At that time especially you will need to have claimed your scholarship amount (if you got one) and that may affect your OSAP.
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thebrain786
#36 Posted : Tuesday, April 19, 2011 1:22:03 AM
Rank: Frosh




Joined: 3/20/2011
Posts: 12
I've done a lot of research on OSAP because I just made a presentation for my community, and if you play your cards right, it can really help you. You just have to know some of the tricks. They don't just look at your parents' income, they ask about you - your income and your assets. So if you have any cars or anything, then you have to put them in your parents' name. And keep as little money in your bank account as you can; transfer money from your parents when yours gets low.
Some of the grants depend on your income - if it's low you get the low family income grant and if it's middle you get the middle family income grant. Then if you can prove that you're disabled or an Aboriginal you can get those grants too. Depending on your program costs and other school costs, like residence, OSAP will decide whether or not to give you a loan. If you're living away from home and need to travel then they'll give you money to get home but depending on how close the nearest school is to you, not the one you're going to, they'll decide whether or not to make it a grant or loan.
And if you keep applying for scholarships, the loan will just keep shrinking. When I was going into Carleton, I had a $7000 loan, but because I got a $1500 scholarship over the summer, they knocked $1500 off the loan in September. I got $1500 less from OSAP, but my loan was smaller too. And where you go to school effects your loans; I transferred to York to be closer to home so OSAP didn't give me a loan this year. I still have that $5000 loan from last year but that's it; this year I just got grants. And grants are scholarships without work. It can't get any better than that!

Check out their website and you can figure out a lot!
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ashleypaiva
#37 Posted : Tuesday, April 19, 2011 12:28:47 PM
Rank: Frosh


Joined: 12/22/2010
Posts: 4
I did an estimate of how much OSAP I would get on the OSAP website, and since my parents make too much money I'm not getting much at all. However, my family has large expenses and my parents didnt expect me to want to move away for university so they dont have much saved up for me at all (really stupid I know). So with getting barely no OSAP and having not much saved up, how is it possible for me to move away to my dream school (Im not eligible for many scholarships as well). Is there any exceptions in OSAP in that they will grant you a larger loan if your parents are not helping you pay for your education?
heesoup
#38 Posted : Tuesday, April 19, 2011 12:45:15 PM
Rank: Student Body Vice-President




Joined: 12/23/2010
Posts: 971
ARMY101 wrote:
heesoup wrote:
For applying to OSAP, would my high school explain it to me like OUAC and give me pin numbers and all that, or is the application process done individually without the school's guidance?

It's done on your own time, online, when it comes out in May (or so) and it's due by June.


Turns out that my school was planning to do a huge seminar on it for students & parents! :)
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thebrain786
#39 Posted : Wednesday, April 20, 2011 12:36:49 PM
Rank: Frosh




Joined: 3/20/2011
Posts: 12
ashleypaiva wrote:
I did an estimate of how much OSAP I would get on the OSAP website, and since my parents make too much money I'm not getting much at all. However, my family has large expenses and my parents didnt expect me to want to move away for university so they dont have much saved up for me at all (really stupid I know). So with getting barely no OSAP and having not much saved up, how is it possible for me to move away to my dream school (Im not eligible for many scholarships as well). Is there any exceptions in OSAP in that they will grant you a larger loan if your parents are not helping you pay for your education?


The estimate before applying and what you get after applying are different. And if you do need a lot more money because your parents aren't giving you anything you can appeal to OSAP. It's like a letter and goes through your financial office. Then they have things like Work Study just for OSAP students where you can get a job on campus and earn money. All the info is on the OSAP website
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ashleypaiva
#40 Posted : Wednesday, April 20, 2011 4:08:02 PM
Rank: Frosh


Joined: 12/22/2010
Posts: 4
thebrain786 wrote:
ashleypaiva wrote:
I did an estimate of how much OSAP I would get on the OSAP website, and since my parents make too much money I'm not getting much at all. However, my family has large expenses and my parents didnt expect me to want to move away for university so they dont have much saved up for me at all (really stupid I know). So with getting barely no OSAP and having not much saved up, how is it possible for me to move away to my dream school (Im not eligible for many scholarships as well). Is there any exceptions in OSAP in that they will grant you a larger loan if your parents are not helping you pay for your education?


The estimate before applying and what you get after applying are different. And if you do need a lot more money because your parents aren't giving you anything you can appeal to OSAP. It's like a letter and goes through your financial office. Then they have things like Work Study just for OSAP students where you can get a job on campus and earn money. All the info is on the OSAP website


Okay great, thanks for the info! :)
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