Government Student Loans

The most common option for Ontario students to finance their education is through the Ontario Student Assistance Program (or OSAP). OSAP is a student loan provided by the provincial government for qualifying Ontario residents who need financial help to begin or continue their studies. Canadian citizens, permanent residents and protected persons may be eligible for OSAP. (Note that persons studying in Canada on a study permit are not eligible for OSAP). The amount you’re eligible for is determined by a variety of factors: your marital status, your course of study, the length of your program, your family’s financial contribution and more.

You can visit the Ontario government’s page on Student Assistance to learn more, or go through the following FAQ, which addresses the most commonly-asked questions related to OSAP.

Please click on the questions below to get your answers!

Q. What is OSAP?

OSAP, otherwise known as the Ontario Student Assistance Program, refers  to provincially and federally funded student financial assistance in Ontario.

Q. When should I apply for OSAP?

You should apply as soon as possible to avoid missing the deadline.  If you need any help with your application, contact one of our financial assistance consultants, who will be more than happy to guide you through the procedure.

Q. I made a mistake on my OSAP application. What should I do?

Contact our campus for assistance in correcting any mistakes you may have made. You can reach us through our online form or call us at 416 969 8845.

Q. I don’t live in Ontario. Can I apply for OSAP?

OSAP is only available to Ontario residents. If you live outside Ontario, you must apply to your home province for a student loan. 

Q. Do I have to pay interest on student loans?

While you are a full-time student, there’s no interest charged to you. It is important to note that you alone are responsible for ensuring that your lending institution is kept informed of your registration status. If you do not negotiate a Canada Student Loan/Ontario Student Loan in each term of your studies, then you must complete a Continuation of Interest Free Status Form and submit the form to the Student Financial Aid Office. This will advise the lending institution that you are registered in school full-time. You must complete a Continuation of Interest Free Status Form for each study term that you are attending school full time and not receiving OSAP loans.

Q. What happens if I withdraw from studies?

If you withdraw from your program, or stop attending classes, your application will be reassessed and your original OSAP entitlement will be recalculated based on the number of weeks you were in attendance. You will immediately lose your interest-free status on your Canada and Ontario Student Loans, and you must make arrangements to begin repayment of your outstanding Canada/Ontario Student Loan debt six months from the month in which you ceased full time attendance. If you return to school within the six-month period and you notify your lending institution of your registration status, your loans will return to interest-free status.

Q. I lost my Social Insurance Card. Where do I get a new one?

If your SIN card is lost or stolen, you can order a new one at any offices of Human Resources Development Canada.

You will receive a receipt for your card but the actual card will be mailed to you.

If you have any questions not covered here, please contact Academy of Learning College Bay/Bloor Campus for more information on OSAP. We’re always available to help!

“Education is our passport to the future, for tomorrow belongs to the people who prepare for it today.” 
- Malcolm X



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