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Hey! Anyone with OSAP Questions Read Here First! Options ▼
ARMY101
#121 Posted : Tuesday, August 23, 2011 2:24:38 PM
Rank: Student Body President


Joined: 3/3/2010
Posts: 15,669
noble11 wrote:
Hey guys,

Under income verification for the OSAP application it says income year to be verified for my parents is 2010, but for myself it says still to be determined...is this normal or no?

Thanks.

Yes.
**Shields**
Accepted:
University of Toronto: Social Sciences + Vic One (Pearson Stream)
Carleton University: Honours Science
University of British Columbia: Arts
noble11
#122 Posted : Tuesday, August 23, 2011 2:53:23 PM
Rank: Senior Student


Joined: 12/28/2010
Posts: 59
ARMY101 wrote:
noble11 wrote:
Hey guys,

Under income verification for the OSAP application it says income year to be verified for my parents is 2010, but for myself it says still to be determined...is this normal or no?

Thanks.

Yes.


Ty sir.
The University of Western Ontario
BMOS/AEO1

guitarsteven
#123 Posted : Friday, August 26, 2011 1:46:17 PM
Rank: Frosh


Joined: 4/23/2011
Posts: 2
I've received $3000 in scholarships in total that I haven't reported to OSAP yet. I'm wondering if I'm supposed to do that now, and if so should I contact OSAP or my school's financial aid office? I also read on the OSAP website that you submit a Confirmation of Enrollment form at the beginning of the year where you confirm/update your income -- is that where I'm supposed to report my scholarship winnings?

Also, would this have an effect on the $3500 I won with the QEII Scholarship? I'm assuming this will lessen the aid they give me in the winter term, but I'm hoping it doesn't take away from my scholarship earnings.
ARMY101
#124 Posted : Friday, August 26, 2011 2:17:11 PM
Rank: Student Body President


Joined: 3/3/2010
Posts: 15,669
guitarsteven wrote:
I've received $3000 in scholarships in total that I haven't reported to OSAP yet. I'm wondering if I'm supposed to do that now, and if so should I contact OSAP or my school's financial aid office? I also read on the OSAP website that you submit a Confirmation of Enrollment form at the beginning of the year where you confirm/update your income -- is that where I'm supposed to report my scholarship winnings?

Also, would this have an effect on the $3500 I won with the QEII Scholarship? I'm assuming this will lessen the aid they give me in the winter term, but I'm hoping it doesn't take away from my scholarship earnings.


Report it as soon as possible. Having $3000 in extra money will affect your QEII scholarship and your OSAP loan, so report it to them so you know the new amount of funding you'll receive.
**Shields**
Accepted:
University of Toronto: Social Sciences + Vic One (Pearson Stream)
Carleton University: Honours Science
University of British Columbia: Arts
imaginary
#125 Posted : Saturday, August 27, 2011 12:45:39 AM
Rank: Frosh


Joined: 1/31/2011
Posts: 1
ARMY101 wrote:
Eternalsankai wrote:
but do you have to pay back the Grants?


No, that's why they're called grants...

Quote:
Do you receive the Grants all at once?


You'll get 60% of your total funding in the fall and 40% in the winter.

Quote:
I also been recently accepted to a job. Should I take the job or will that reduce my grants and loans (I'll make approximately 1500-2000)? My family has very low income (Social assistance).


Yes you should take the job; it's your duty to work. OSAP also assumes you're going to make $2000 every summer anyways.


If OSAP already assumes you're going to make around $2000 every summer, and you happen to make approximately that amount, do you still have to report it to them on the Confirmation of Enrolment forms that you sign when you pick up your funds?

Also, if I reported in my online application to have received $500 from January 1, 2011 to Dec 31, 2011 and receive a total of $1500 (including the $500 that was already reported)from January 1, 2011 to the end of August 2011 (so money was earned from a summer job), do I report the amount that was not reported ($1000) or do I still report the total amount that would be in my bank balance ($1500)?
CompSciGuy
#126 Posted : Saturday, August 27, 2011 2:01:08 PM
Rank: Frosh


Joined: 8/27/2011
Posts: 1
imaginary wrote:

If OSAP already assumes you're going to make around $2000 every summer, and you happen to make approximately that amount, do you still have to report it to them on the Confirmation of Enrolment forms that you sign when you pick up your funds?

Also, if I reported in my online application to have received $500 from January 1, 2011 to Dec 31, 2011 and receive a total of $1500 (including the $500 that was already reported)from January 1, 2011 to the end of August 2011 (so money was earned from a summer job), do I report the amount that was not reported ($1000) or do I still report the total amount that would be in my bank balance ($1500)?


The amount your expected to earn in the summer means that your OSAP funding is going to be adjusted as though you made that amount, regardless if you were employed or not.

If you were unable to find work you have to fill out a job search history form (you can get one from your financial aid office) and OSAP may provide additional funding (ie. they will not simply assume you had a summer job).

If you did make an income, you still report it to OSAP.

And in regards to your second question, yes it sounds like your probably going to have to update your OSAP application, contact your financial aid office.

And this is a little off topic, but I thought the expected OSAP summer contribution was $5k? (This is what my financial aid office told me last summer).

ARMY101
#127 Posted : Saturday, August 27, 2011 3:28:40 PM
Rank: Student Body President


Joined: 3/3/2010
Posts: 15,669
imaginary wrote:
If OSAP already assumes you're going to make around $2000 every summer, and you happen to make approximately that amount, do you still have to report it to them on the Confirmation of Enrolment forms that you sign when you pick up your funds?


Yes. All income needs to be reported.

Quote:
Also, if I reported in my online application to have received $500 from January 1, 2011 to Dec 31, 2011 and receive a total of $1500 (including the $500 that was already reported)from January 1, 2011 to the end of August 2011 (so money was earned from a summer job), do I report the amount that was not reported ($1000) or do I still report the total amount that would be in my bank balance ($1500)?

Both. In September they'll ask you to finalize the amount of money you made over the summer and will make in the upcoming study period. That is the time when you will change the amount of money you're reporting.
**Shields**
Accepted:
University of Toronto: Social Sciences + Vic One (Pearson Stream)
Carleton University: Honours Science
University of British Columbia: Arts
Steffanie7x
#128 Posted : Tuesday, August 30, 2011 3:39:53 PM
Rank: Frosh




Joined: 3/17/2011
Posts: 10
So it seems like OSAP is giving every one trouble. I really hope im in the small group who goes off without a hitch.

Unfortunately, due to an injury, I haven't been able to work all summer, and this was reported to OSAP, although they said it wont affect the amount of money i get in a negative way. But I, like all other first year college students, am freaking out about when my OSAP will be in, so im watching my bank account and student account to see what happens.
I signed my Funding Certificate/Confirmation of Enrollment on August 19th, and sent the OSAP Paperwork out via Canada Post on the 22nd. The lady said 5-10 business days, meaning it would be in on Tuesday September 6th (at the latest)

Now comes my confusion.

on the OSAP website, the Aid released date has the funding being released on August 27th.
on my funding certificate it said the 29th.

Then I found this:
Your aid will be deposited into your bank account, generally within 1 week of the date the funding certificate is received by the National Student Loans Service Centre, or within one week of the disbursement date on your funding certificate, whichever is later. The Canada and Ontario portions of the loan, as well as the Canada Student Grants, may be deposited at different times, so you should monitor your bank account regularly.

I know it takes about 3 days regular post for something to arrive in the same province. So, theoretically it could be in the next few days.
but then it says a week from the disbursement date, which would make it the 3rd of September. (A saturday, which would then delay it to the 6th)

So, will they hold back depositing my funds into my account until the later of the two events?

...That's my first question.

Second one is a lot simpler.

My aid is listed as
Canada - Ontario Integrated Student Loan
Canada Student Grant for Persons from Low Income Families
Ontario Access Grant

I know the ones from Ontario are OBVIOUSLY provincial and will most likely come in at the same time, but is the Canada Student Grant for Low Income Families considered Federal? Would that result in possibly being deposited Separately?


I know this is long-winded, but thank you in advance for your answers (especially if this ends up being nothing but me being Paranoid)
Stephanie Owen; Dipl.
Mohawk College - Radio Broadcasting
Class of 2013


ACCEPTED!!!! - Ryerson University - Radio & Television Arts Class of 2017!!!
ARMY101
#129 Posted : Wednesday, August 31, 2011 5:32:27 PM
Rank: Student Body President


Joined: 3/3/2010
Posts: 15,669
Steffanie7x wrote:
...So, will they hold back depositing my funds into my account until the later of the two events?


Generally give them 2 weeks to deposit the money. If it's not in after that time period, call them. You're fretting about the difference between a few days and it's not a big deal.

Quote:
I know the ones from Ontario are OBVIOUSLY provincial and will most likely come in at the same time, but is the Canada Student Grant for Low Income Families considered Federal? Would that result in possibly being deposited Separately?


You'll only see one deposit in your account.
**Shields**
Accepted:
University of Toronto: Social Sciences + Vic One (Pearson Stream)
Carleton University: Honours Science
University of British Columbia: Arts
Steffanie7x
#130 Posted : Wednesday, August 31, 2011 9:58:42 PM
Rank: Frosh




Joined: 3/17/2011
Posts: 10
Thanks a lot!

my aunt was telling me horror stories about how her OSAP was months behind and stuff, I think shes just crazy...personally.

She also lied on her paperwork, so that explains it.

So, hype over nothing.
But thanks Again!!
Stephanie Owen; Dipl.
Mohawk College - Radio Broadcasting
Class of 2013


ACCEPTED!!!! - Ryerson University - Radio & Television Arts Class of 2017!!!
Eternalsankai
#131 Posted : Wednesday, August 31, 2011 11:07:33 PM
Rank: Frosh


Joined: 7/18/2011
Posts: 8
Hey everyone, currently, I'm receiving 4300 in loans and 3600 in grants (Low Income and Access Grants). The only problem is that I have a part-time job that I started at the end of July. I was thinking of continuing my job (Saturdays) since I didn't work much during the summer. I've read that if you make over 50 dollars a week, OSAP will reduce your loans and grants significantly. My job only has one shift, and thats 10 hours. I'm afraid of reducing my grants, not my loans. Grants are free money and 3.6k is a lot. I don't want to work part-time and have the grant reduced; it just kills the purpose of earning money. I don't care about loans since you have to pay that back anyways. What do you guys suggest that I do? Continue my part-time job or quit? Also, does anyone have a similar story/situation or have an experience with my case. Any input would be greatly appreciated. Thanks again.
Eternalsankai
#132 Posted : Wednesday, August 31, 2011 11:07:33 PM
Rank: Frosh


Joined: 7/18/2011
Posts: 8
Hey everyone, currently, I'm receiving 4300 in loans and 3600 in grants (Low Income and Access Grants). The only problem is that I have a part-time job that I started at the end of July. I was thinking of continuing my job (Saturdays) since I didn't work much during the summer. I've read that if you make over 50 dollars a week, OSAP will reduce your loans and grants significantly. My job only has one shift, and thats 10 hours. I'm afraid of reducing my grants, not my loans. Grants are free money and 3.6k is a lot. I don't want to work part-time and have the grant reduced; it just kills the purpose of earning money. I don't care about loans since you have to pay that back anyways. What do you guys suggest that I do? Continue my part-time job or quit? Also, does anyone have a similar story/situation or have an experience with my case. Any input would be greatly appreciated. Thanks again.
ARMY101
#133 Posted : Thursday, September 01, 2011 4:40:25 PM
Rank: Student Body President


Joined: 3/3/2010
Posts: 15,669
Eternalsankai wrote:
Hey everyone, currently, I'm receiving 4300 in loans and 3600 in grants (Low Income and Access Grants). The only problem is that I have a part-time job that I started at the end of July. I was thinking of continuing my job (Saturdays) since I didn't work much during the summer. I've read that if you make over 50 dollars a week, OSAP will reduce your loans and grants significantly. My job only has one shift, and thats 10 hours. I'm afraid of reducing my grants, not my loans. Grants are free money and 3.6k is a lot. I don't want to work part-time and have the grant reduced; it just kills the purpose of earning money. I don't care about loans since you have to pay that back anyways. What do you guys suggest that I do? Continue my part-time job or quit? Also, does anyone have a similar story/situation or have an experience with my case. Any input would be greatly appreciated. Thanks again.

Continue working part-time. As long as you claim the amount of money you expect to make, they won't deduct much money. If anything, work more.
**Shields**
Accepted:
University of Toronto: Social Sciences + Vic One (Pearson Stream)
Carleton University: Honours Science
University of British Columbia: Arts
megananthia
#134 Posted : Thursday, September 01, 2011 5:03:39 PM
Rank: Frosh


Joined: 7/22/2011
Posts: 1
hey I have a question about osap. My university (york)requires me to play the entire tuition amount by Sept 10.Osap is covering me for 4,600. OSAP is releasing 60% in September and the rest in January. When I pay the total tuition in September before the second half of my loan arrives (to avoid interest), where will the second half of my loan go?
ARMY101
#135 Posted : Thursday, September 01, 2011 10:08:35 PM
Rank: Student Body President


Joined: 3/3/2010
Posts: 15,669
megananthia wrote:
hey I have a question about osap. My university (york)requires me to play the entire tuition amount by Sept 10.Osap is covering me for 4,600. OSAP is releasing 60% in September and the rest in January. When I pay the total tuition in September before the second half of my loan arrives (to avoid interest), where will the second half of my loan go?

First to the university if you have any outstanding balances, then to your bank account to spend or invest.
**Shields**
Accepted:
University of Toronto: Social Sciences + Vic One (Pearson Stream)
Carleton University: Honours Science
University of British Columbia: Arts
Karnage1993
#136 Posted : Thursday, September 01, 2011 10:19:56 PM
Rank: Student Body President


Joined: 3/3/2010
Posts: 15,669
Well I didn't apply for OSAP when I was supposed to from high school so I was wondering would I be able to apply for OSAP after my first year of studies along with the same benefits that high school students had when applying? I am talking about the Queen Elizabeth Aiming for the top scholarship.

My parents have over $75,000 in their savings account alone, and when I asked them about OSAP, they said I didn't need it. But some of my friends, as I've seen, are getting 2000 to 4000 dollars from their OSAP applications from grants and 3500 from scholarships alone, having the same high averages as me.

Would I be able to get those same benefits if apply during my first year?

Since I didn't apply, does anyone know if OSAP would check my parents bank accounts to see if I am elligble for the scholarships and grants? Not to be greedy but I'd rather have money from scholarships and grants along with my parents savings to pay for my tuition rather than 100% from my parents savings.
**Shields**
Accepted:
University of Toronto: Social Sciences + Vic One (Pearson Stream)
Carleton University: Honours Science
University of British Columbia: Arts
andyguan12
#137 Posted : Friday, September 02, 2011 12:22:13 AM
Rank: Frosh


Joined: 7/29/2011
Posts: 1
hi, my osap funding will not release until after the tuition deadline. i would like to know if you can pay off the tuition with ur own money in order to avoid interest and late fee. and later when osap funding is available, the funding can be sent back to my bank account. will this work?
Konn2011
#138 Posted : Friday, September 02, 2011 1:51:07 AM
Rank: Senior Student


Joined: 2/22/2011
Posts: 61
Karnage1993 wrote:
Well I didn't apply for OSAP when I was supposed to from high school so I was wondering would I be able to apply for OSAP after my first year of studies along with the same benefits that high school students had when applying? I am talking about the Queen Elizabeth Aiming for the top scholarship.

My parents have over $75,000 in their savings account alone, and when I asked them about OSAP, they said I didn't need it. But some of my friends, as I've seen, are getting 2000 to 4000 dollars from their OSAP applications from grants and 3500 from scholarships alone, having the same high averages as me.

Would I be able to get those same benefits if apply during my first year?

Since I didn't apply, does anyone know if OSAP would check my parents bank accounts to see if I am elligble for the scholarships and grants? Not to be greedy but I'd rather have money from scholarships and grants along with my parents savings to pay for my tuition rather than 100% from my parents savings.

OSAP only asks for your parents' and your own income, plus any RESP withdrawals. They won't check bank accounts.
Having said that, you're too late for QEII because you've already started uni. What's more, the grant portion in OSAP is much lower than you'd expect (even if your family is in the low-income bracket). Which means you'll end up owing quite a bit of money at graduation. This is not necessarily a bad thing, though, since you'll build up credit history as you faithfully repay the loan.
Konn2011
#139 Posted : Friday, September 02, 2011 1:51:58 AM
Rank: Senior Student


Joined: 2/22/2011
Posts: 61
andyguan12 wrote:
hi, my osap funding will not release until after the tuition deadline. i would like to know if you can pay off the tuition with ur own money in order to avoid interest and late fee. and later when osap funding is available, the funding can be sent back to my bank account. will this work?

Yes, it'll work.
Karnage1993
#140 Posted : Friday, September 02, 2011 12:49:18 PM
Rank: Student Body President


Joined: 3/3/2010
Posts: 15,669
Konn2011 wrote:

OSAP only asks for your parents' and your own income, plus any RESP withdrawals. They won't check bank accounts.
Having said that, you're too late for QEII because you've already started uni. What's more, the grant portion in OSAP is much lower than you'd expect (even if your family is in the low-income bracket). Which means you'll end up owing quite a bit of money at graduation. This is not necessarily a bad thing, though, since you'll build up credit history as you faithfully repay the loan.


What if I don't want the loan portion of OSAP and just the grants they offer? Since you mentioned it, what sort of $$$ range would the grants be if you say they are lower than expected?

Also if I am too late for the QEII, why is it renewable for people throughout all 4 years of their university life? Surely I can at least apply for some sort of their scholarship?

Thanks for your help!
**Shields**
Accepted:
University of Toronto: Social Sciences + Vic One (Pearson Stream)
Carleton University: Honours Science
University of British Columbia: Arts
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