OSAP FAQs

How Is My OSAP Funding Calculated?

The amount of funding you receive from OSAP is calculated using the following formula:

Allowable Educational Costs - Expected Contribution = OSAP funding

  • Allowable educational costs include tuition fees, books, personal and living allowances
  • Expected contributions are based on your income, some assets and in certain situations your family's income
Is My Family Expected To Contribute?

OSAP funding is based on your parents' income, unless one of the following applies to you:

  • You have not been a full-time student at a high school or post secondary institution for at least 12 months in a row on 2 or more occasions (without providing your parents' income, you would only be entitled to a Canada Student Loan which is 60% of OSAP funding);
  • You have been out of high school for at least 4 years;
  • You have dependent children living with you;
  • You are separated, divorced or widowed;
  • You are married (your spouse's income, vehicles, bank balance, GIC's, Mutual Funds and RRSP's are used in calculating the amount of OSAP you receive).
How Much Osap Assistance Is Available?

60% of OSAP funding comes from the Federal Government in the form of a Canada Student Loan (CSL) and 40% comes from the Provincial Government, as an Ontario Student Loan (OSL). Your funding is always released to you in two installments, at the beginning of your first semester and at the beginning of your second semester. If you are studying in a one semester program, your loans will be released 60% and 40% as well, with your second portion released midway through your semester.

What Happens If I Apply After My Classes Begin?

If you apply 45 days after your classes begin, you will be assessed as late, and will be assessed from the date the application and not from the beginning of classes. In order to be assessed for OSAP funding, you must apply 90 days before the end of your study period, or if you're in a one semester program you must apply within the first month of classes.

What Happens When I Apply Over The Internet?

After you have submitted your on-line application over the internet, the ministry will send you the "Consents and Declarations" signature sheets. Along with these signature sheets you will receive notification of any supporting documentation that must be submitted as well. The signature sheet, and any supporting documentation, must be mailed to the Financial Aid Office at the school you plan to attend.

DO NOT send your signature sheets and supporting documentation to the Student Support Branch in Thunder Bay.

What Happens After I Apply?

Once the application or signature sheets have been processed by the school that you'll be attending, the Ministry will send you a "Student Information Document" by mail (approximately 4 weeks after applying), to the address you provided on your application. You can check your funding entitlement by looking on the OSAP web site (don't forget to write down your OSAP PIN number that you create when you apply, because you'll need it to check on-line).

What If I Can't Remember My OSAP Pin Number Or I Have Been Denied Access To My On-Line Information?

Our Financial Aid Office does not keep track of student's PIN numbers. It is your responsibility to remember this number. If you have forgotten your number, you will need to come to our Financial Aid Office with 1 piece of photo I.D and your Social Insurance Card to have your PIN number reset. If you have been denied access to your on-line info, you will have to wait 24 hours until you can try to retrieve your information again.

How Do I Get My OSAP?

OSAP loan documents are available to be picked up by appointment. Following booked appointments, you can pick-up on a sign-in basis to fit your class schedule.

Before OSAP loan documents are released to you by our Financial Aid Office, at the time of your appointment, you must:

  • Be registered in classes and have paid your tuition, or paid the $165.00 non-refundable administration/deferral fee so that you can have your tuition deducted from you OSAP loan documents
  • Provide your Social Insurance Card or proof of SIN (e.g. Income Tax Assessment Letter), and photo ID (e.g. Driver's License, Photo Health Card)
  • You will also require a void cheque or your direct deposit information for your money to be deposited into your back account.
  • Provide your proof of earnings during the pre-study period (e.g. Pay stubs, or a letter from your employer). Your pre-study period is the 16 weeks prior to the beginning of classes, or in the case of a student who has just finished high school in June, it would be the 10 weeks prior to the beginning of your post secondary study period.
  • Then take the OSAP Loan Documents to the designated Postal Outlet to forward your loans to the National Student Loan Centre, where your loan will be processed and the money deposited into your bank account (this usually takes 10-14 working days).
  • Remember, your entitlement can change at any time. You may have misunderstood a question or omitted something from your application that should have been noted. In this case you can, and will be reassessed.

© 2010 Fleming College

March 12, 2010