OSAP FAQs

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. 

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 two or more occasions (without providing your parents’ income, you would only be entitled to a Canada Student Loan which is 60 percent of OSAP funding). 
• You have been out of high school for at least six years. 
• You have dependent children living with you. 
• You are separated, divorced or widowed. 
• You are married (your spouse’s income, GICs, Mutual Funds and RRSPs are used in calculating the amount of OSAP you receive). 

60 percent of OSAP funding comes from federal government loans and grants (if applicable) and 40 percent comes from provincial loans and grants (if applicable). Your funding is released in two instalments. For Fall start programs, the first instalment is released in the Fall semester and the second instalment during the Winter semester. If you are in a one-semester program, your funding is released in one instalment at the beginning of the semester once confirmation of enrolment is processed.

You may apply for OSAP up to 60 calendar days prior to the end of your study period. Once you have applied, any supporting documentation that you are required to provide as part of your application must be submitted and processed no less than 40 days prior to the end of your study period.

Come in-person to the Welcome Centre at Loyalist College (2H1) or visit the financial aid office of any community college or university in Ontario to access your OAN and reset your password. You must provide proof of SIN and government issued ID. If your OSAP access has been disabled, you will have to wait for 24 hours until your access is restored.

Approximately 15 calendar days prior to the beginning of classes, we will begin the process of approving the release of OSAP funding for students. OSAP applications that are complete and approved for funding will be eligible for processing and deposit of funds. Loyalist College will confirm the enrolment of eligible students with the Ministry. The Ministry will then transfer approved OSAP funds direct deposit to individual student bank accounts based on the information provided in the Master Student Financial Aid Agreement (MSFAA). The earliest that funds will be deposited to your bank account is the first day of classes. 

This is a good opportunity to connect with Loyalist’s Financial Aid team at finaid@loyalistcollege.com. 

We will review your application to see what options are available to you. In some cases, your application may not be correct and has resulted in a lower assessment; in other cases, there may be an appeal that can be initiated that may generate additional funding for you. In the absence of additional OSAP funding, we can also provide direction with respect to other sources of funding, including bursaries and scholarships, bank loans or lines of credit. 

An overpayment is the amount of OSAP funding issued to you in excess of what you are entitled to receive. An overpayment may occur for a number of reasons, such as a withdrawal from studies, a drop in course load, or a change in income. If you can, it is best to repay the overpayment amount immediately. 

You might incur an academic penalty, such as OSAP probation or restriction, if you receive OSAP funding and then withdraw before completing at least 60 percent of a full course load (1.5 credits each semester). 

Canada Student Loan (Federal Restriction): Contact HRSDC-CSFA, via the National Student Loans Service Centre. 

Ask to be connected with the Canada Student Financial Assistance Program (CSFA). Ask what you need to do to return to good standing.  If you receive federal clearance, then HRSDC-CSFA will provide you with a written clearance decision, known as a Clearance Letter. Students who have been issued a Clearance Letter can request a review to determine whether their eligibility for further federal funding can be considered by OSAP. Documentation Required:  

• A letter from you requesting a review of your situation. Bring the letter to the Financial Aid office. 
• A copy of the Clearance Letter, as issued by HRSDC-CSFA. NOTE: CSFA can send the clearance letter directly to the OSAP office.  

Students who obtain federal clearance only may request the federal portion of their OSAP (60% of funding). However, to obtain the provincial portion, student must first obtain the federal portion, then appeal for the provincial portion.  

Ontario Student Loan (Provincial Restriction): Learn more about the OSAP rehabilitation program and contact the Account Management and Collections Branch of the Ministry of Finance to determine the current status of their provincial debt and determine which private collection agency currently holds the debt. 

Once the provincial debt has been paid in full, students can request a review of their situation to determine whether they are eligible for further funding. Documentation Required:  

• A letter from the student requesting a review of eligibility for further provincial finding.  
• Proof that they provincial debt has been repaid in full 

Questions? The Financial Aid team is here to help! Contact us at finaid@loyalistcollege.com, or book an in-person or online appointment. 

Please include full name, Loyalist student number and/or OSAP number (OAN) and brief explanation of what you need help with.