Opt out of the loan and keep the grants only!
You can request a review for grant funding only on your OSAP application. The request for Grant only form is available to you through a link on the funding summary page in your OSAP portal. The generic form can also be found on our Loyalist OSAP form page.
Requests received before the first semester
To decline the first instalment of your loan, your form must be received by the Financial Aid office no later than two weeks before the release of your first loan instalment.
- For example: You applied for OSAP for the Fall semester and you are eligible to receive loans and grants. In August, you decide that you don’t want to receive the loans. Since we received the request before we confirmed your enrolment, we can amend your application to ensure that the loan portion of your funding is not released.
Requests received after the first instalment has been issued
If we receive the request after your funds have been issued, we can’t call back the loan. If you wish, you can pay it back to the National Student Loan Service Centre (NSLSC) immediately. We can only process the request for your next instalment of funding. To decline the second instalment of your loan your form must be received by the Financial Aid office no later than two weeks before the release of your second loan instalment.
- For example: You have already received your funds for the Fall semester, including loans, but you don’t want to receive the loan portion of your funding for the Winter semester. You must provide the request to our office two weeks before we confirm your enrolment for the second semester in order to ensure that your loan for the Winter semester is not released.
Reversing the decision and taking the loan during your academic year
If you asked to receive the grant portion of your funding only but decide that you need the loans after all, simply contact the Financial Aid office to make the request. Even if your funds for both semesters have been issued, we can still request to have the loans issued as well.
Important: you must submit your request at least two weeks before the end of your study period.
- For example: You applied for OSAP for the Fall semester and requested to receive grant only funding. Your funding was released in September and it included the grants only. You also received the grants for the Winter semester without receiving any loans. It’s now March and you decide that you need additional funds. If this occurs, you can request to have the loan funding for both semesters issued to you. You must submit your request two weeks before the study period end date.
Questions?
Our Financial Aid team is here to help!