Frequently Asked Questions OSAP Questions 1. 2012 2013 OSAP Changes: What is a Master Student Financial Assistance Agreement (MSFAA)? The way you get your OSAP assistance is changing for 2012-13. The Ministry of Training, Colleges and Universities is implementing electronic release of OSAP funding directly to your bank account. There will be no need to pick up your paper loan/grant funding agreements. In order to make this happen, the provincial and federal governments have created a new student loan agreement that you sign once for your lifetime. It outlines all of the terms and conditions for both federal and provincial funding. This agreement is called the Master Student Financial Assistance Agreement (MSFAA). Your personal MSFAA will be available for printing after you submit your 2012-2013 OSAP application. Visit: www.canlearn.ca for more information about the MSFAA Visit: http://osap.gov.on.ca to complete your 2012-2013 OSAP application 2. How do I apply for OSAP? The recommended method is to apply online at http://osap.gov.on.ca. Submit your OSAP application, print the consents and declaration pages and forward them to Financial Aid and Awards, Enrolment Services at U of T. Print the MSFAA, sign it, complete your banking information and take it to a designated Canada Post Outlet with two pieces of appropriate identification. Canada Post will verify your identity and then forward your MSFAA to the National Student Loans Service Centre (NSLSC) for processing. Don t delay. Submit your MSFAA as soon as possible to ensure your funding is processed in time for the start of your studies. 3. I ve submitted my OSAP application. What happens next? Once your OSAP application has been accepted as complete, your MSFAA has been processed by the National Student Loans Service Centre and your enrolment has been confirmed by U of T, your funds are ready for disbursement. In the first few weeks after classes begin, your funds will be deposited electronically into your bank account. 4. How do I register or pay fees if I won t receive my OSAP funds until my classes begin? OSAP recipients may register at U of T before receiving their OSAP funding No minimum payment is required. The University will allow students to register beginning in mid-july without paying the Minimum Payment to Register amount on their Student Web Service/ROSI invoice if they have been assessed by OSAP for adequate funding.
Information is available at Student Accounts regarding OSAP tuition fee deferrals. (http://www.fees.utoronto.ca/page13.aspx). 5. How do I submit an OSAP tuition fee deferral? If students qualify for government student assistance that will cover their tuition fees, the University will allow students to defer paying their tuition fees until the assistance arrives. Students can submit an Online Tuition Fee Deferral by logging in to the Student Web Service and selecting Financial Accounts: http://sws.rosi.utoronto.ca. In the Financial Accounts area, students can select OSAP/Govt Deferral. 6. I have enough savings to last until the end of first term. When should I apply for OSAP? You should apply for OSAP as soon as possible (do not wait until you have run out of money!). Apply early, 8-10 weeks prior to your study period start provides ample time to process your application, and if there are any errors, time to make corrections. There are application deadlines and funding penalties if you apply late for OSAP. 7. Where do I pick up my loan certificate for my OSAP funding? Starting in 2012-13, there will be no more loan certificates to pick up. When a student applies for OSAP, at the end of the application process, they must print two types of documents: 1) Signatures pages; 2) Master Student Financial Assistance Agreement (MSFAA). The MSFAA is a new document that replaces the loan certificate in 2012-13. The student must complete the MSFAA and bring it to a designated postal outlet (http://www.canlearn.ca/eng/onlinetools/canadapost/cp_clf/on.shtml). Once the MSFAA is received by the National Student Loans Service Centre (NSLSC), then the OSAP funds will deposited into the student s bank account. 8. How do I pay my fees with OSAP? Once a student s OSAP funds are deposited into their bank account, they are expected to pay their U of T fees promptly. Students can access their personalized fees invoice from the Student Web Service to determine the fees owed to U of T. Instructions are available at Student Accounts. The University charges a monthly service charge beginning on November 15 and every month thereafter on the balance of all outstanding fees.
9. How is my OSAP released to me? Students must be registered in a full-time course load in each term of study in order to receive their OSAP funds. OSAP funds are disbursed in two installments. Generally, for a two-term study period, 60% of the funding will be disbursed in the Fall and the remainder in the Winter term. The first installment will be deposited directly into a student s bank account after the University confirms their full-time registration in September. Half way through your study period, you must complete your Confirmation of Student Income form on the OSAP website in order to receive the second installment of your OSAP funds. Instructions will be sent to you by the Ministry about a month before your second disbursement. 10. What if a student selected on their OSAP application to Redirect their OSAP funds to U of T? U of T will not be redirecting students 2012-13 OSAP funds to the University. Even though a student may have elected to have their OSAP funds redirected to U of T, no fees will be redirected this year. Students can access their personalized fees invoice from the Student Web Service to determine the fees owed to U of T. 11. Why does my Student Account say I owe fees when I have already indicated on my OSAP application that I want to redirect my OSAP funding to U of T to cover my tuition? U of T will not be redirecting students 2012-13 OSAP funds to the University. Even though a student may have selected to have their OSAP funds redirected to U of T, no fees will be redirected this year. Students can access their personalized fees invoice from the Student Web Service to determine the fees owed to U of T. 12. How do I know if my OSAP loans/grants have been processed? You can check the processing status of your OSAP application on the OSAP website: http://osap.gov.on.ca. You will need to know your Ontario Access Number (OAN) as well as your password to access this information. It is recommended to begin checking your OSAP status no earlier than 4 6 weeks after you have submitted your signed consents and declaration pages to the Financial Aid and Awards at Enrolment Services. If your OSAP application has been processed, you can also check the amount you are eligible to receive from the government for this academic year.
13. Do I need to confirm my income to OSAP? You must confirm your income before the release of your second installment of OSAP funds. Instructions will be sent to you about one month before your second installment of OSAP is scheduled to be released. Instructions will be sent to you by the Ministry. Check your email or online OSAP status regularly for instructions. If you do not confirm your income, the second installment of your OSAP will not be released. 14. How do I change my address so that OSAP knows? It is important for OSAP recipients to keep their address and contact information up to date with the Ministry, National Student Loans Service Centre (NSLSC) and U of T. OSAP: Students login to their OSAP accounts to change their addresses at the web site: osap.gov.on.ca National Student Loans Service Centre: 1-888-815-4514 University of Toronto: login into the Student Web Service SWS at: http://sws.rosi.utoronto.ca 15. I live in another Province. Can I apply for OSAP? Unfortunately, no, if your home province is not Ontario, you must apply to the Ministry or Department of Education in your home province for financial assistance. 16. What if I have OSAP funding from previous years? If you have a previous Canada Student Loan, Ontario Student Loan, and/or Canada- Integrated Student Loan and plan to continue your studies, you must ensure that your previous loan(s) must be placed in interest-free status so that you do not have to repay the loan(s) and interest while you are in school. You must ensure that your previous lender(s) and/or the NSLSC know that you are studying full time. There are two ways to do so: 1. If you Are Receiving OSAP in 2012-13: The ministry will electronically inform your previous lender(s) and/or the NSLSC that you are still in school. You don t have to do anything. 2. If you Are NOT Getting OSAP in 2012-13 or there will be a delay in receiving your OSAP funding this semester: Submit to Financial Aid and Awards at Enrolment Services a signed Continuation of Interest-Free Status (CIFS) form as soon as your semester begins. The CIFS form is available from the OSAP website under Forms or from Enrolment Services. Once Financial Aid and Awards has processed your CIFS form, the information will be electronically
forwarded to your lender(s) and/or the National Student Loan Service Centre. Please note that this process usually takes a few business days. 17. Do I have to notify Financial Aid and Awards at Enrolment Services of any changes to my status? Yes. Failure to notify Enrolment Services of any of the changes listed below may result in your restriction from receiving further OSAP funding: Income prior to and/or during the study period (e.g. part-time work, external scholarships and awards) Financial situation (for you and/or your family) Marital status (yours or your parents) Address during the school year (e.g. living at home or away) Other changes to your personal information (e.g. vehicle purchase, driver s license, children information) Course Load (i.e., dropping courses or applying for Advanced Standing) speak to a Enrolment Services BEFORE making any changes to your course load as it may affect your eligibility for OSAP funding Program of study - speak to Enrolment Services BEFORE making any changes to your program as it may affect your eligibility for OSAP funding Academic progress (i.e., withdrawal from full-time studies, failure to progress academically) 18. I didn t get enough OSAP. Can I get any more? Visit your financial aid office and ask about OSAP reviews. There are a number of OSAP reviews available. If you meet criteria for an OSAP review, your financial aid office will reassess your OSAP application using the review information you have provided and you may be reassessed for more funding. However, the maximum OSAP funding available is: $360/week of study for single students; $560/week of study for married students, students in common-law relationships, and single parents. 19. What does it mean if I m on Academic Probation for OSAP? If you re on Academic Probation for OSAP, it means that you didn t successfully complete your studies last year while you were on OSAP and that for the next 12 months, your academic progress will be monitored closely. During your OSAP probation, you can still receive OSAP funding. During Academic Probation, you re expected to pass the courses you registered for. If you pass your courses, then the Academic Probation will be removed from your OSAP file. If you don t pass your courses, then you will be restricted from OSAP funding for an entire school year.
20. Can I get OSAP funding if I have defaulted on my OSAP loan? If you defaulted on the Canada portion of your OSAP loan, you can rehabilitate the loan and get further funding. For more information about Canada Student Loan rehabilitation, contact the National Student Loans Service Centre at 1-888-815-4514. If you defaulted on the Ontario portion of your OSAP loan, you must repay your Ontario loan in full in order to get OSAP funding in the future. Ontario doesn t have a rehabilitation program. Students may contact the following agency to determine the current status of their provincial debt and which private collection agency has the debt. Ontario Shared Services Collection Management Unit 40 Elm Street, Suite 41A Sudbury, ON P3C 1S8 Telephone: 416-326-0500 Or toll free: 1-800-387-5604 (within area codes 905,226,705,613,519,807 & 416) 21. When do I start repaying my OSAP loans? As a borrower, it is your responsibility to fulfill your obligations and repay your student loans and overpayments to keep your loans and credit in good standing. For more information about your repayment options, visit the National Student Loans Service Centre website at www.canlearn.ca or phone 1-888-815-4514. 22. Will I be notified when I have to start repaying my OSAP loans? The National Student Loans Service Centre (NSLSC) will send you a consolidation agreement during the six months after you stop being a full-time student. Ensure that NSLSC always has your most current address. Contact NSLSC (1-888-815-4514) if you do not receive your consolidation agreement. 23. What can I do if I experience financial difficulties when repaying my student loans? If you ever think you may not be able to afford your payments, contact the National Student Loans Service Centre (NSLSC) at 1-888-815-4514 for information on their repayment assistance programs. Remember that missing payments on your student loans has consequences, including affecting your credit rating and your eligibility for future OSAP assistance.
24. What financial aid programs are available for part-time students? http://www.adm.utoronto.ca/adm-awards/html/financial%20aid/parttime.htm This web site is currently being updated and revised information will be posted in the next few days. Part-Time OSAP available to undergraduate and graduate students register in certificate, degree or diploma programs. Noah Meltz Grant/Special Bursary Program available to undergraduate students register in certificate, degree or diploma programs. For financial aid purposes, part-time is defined as less than a 60% course load in a particular term of study. A term is defined as September to December, January to April or May to August. Students with permanent disabilities who are enrolled in 40% to 59% of a full course load have the option of applying for either Full-Time OSAP or Part-Time OSAP. If a student with a permanent disability is in receipt of social assistance (such as Ontario Disability Support, Ontario Works) for their living expenses, applying to Part-Time OSAP may be a more viable choice for funding their educational costs and to limit their student loan debt. The Government of Ontario eliminated funding for the Ontario Special Bursary Plan (OSBP) in their April 2012 budget. However, the University remains committed to continuing funding for the students previously covered by OSBP who are studying part-time while on social assistance or working in low income environments. For the 2012/13 school year, the Noah Meltz Program will be expanded to include students who previously received funding from OSBP. Students registering in the Academic Bridging Program or undergraduate degree/certificate students taking one credit for the 2012/13 fall/winter session should apply to the Noah Meltz Grant/Special Bursary Program. Students taking 1.5 or 2.0 credits during the 2012/13 fall/winter session are generally recommended to apply to Part-Time OSAP as the available funding may meet their educational costs more closely. Fee deferral forms can be obtained when the particular application or, in the case of Part- Time OSAP, signature pages and supporting documents are submitted to Enrolment Services. The fee deferral form is then taken to the students registrar s offices or Student Accounts. Part-Time OSAP will continue to be released on paper funding documents for 2012/13. The Noah Meltz Grant/Special Bursary will be paid through the SWS/ROSI system.
25. What s UTAPs? How do I apply? UTAPS stands for the University of Toronto Advanced Planning for Students program. It s a program that is used to meet students financial needs not addressed by OSAP or other government programs. OSAP recipients don t need to apply. They ll automatically be considered. U of T students receiving funding from another province/territory or a First Nations band are also eligible for consideration. For more information on the application process visit: http://apply.utoronto.ca/adm-awards/html/financial%20aid/utaps_ext/utaps_current_stu.htm 26. How do I change the banking information I provided when I applied for OSAP? Students who need to change their banking information for their MSFAA (Master Student Financial Assistance Agreement) must complete the National Student Loans Service Centre (NSLSC) Bank Account Information Change Request for Electronic Disbursements form. This completed form and supporting documentation are submitted to NSLSC to update. Forms are available at: https://nslsc.canlearn.ca/eng/pdf/nslsc-papp-ischange(e)(vers%206.1).pdf 27. How will I get my OSAP if I don t have a bank account? Students must set up their own bank accounts for OSAP direct deposit. See question #1 and #2. 28. I earned more money during the summer than I thought I would. How can I let OSAP know? How is it going to affect my OSAP funding? Half way through the study period, students must complete the Confirmation of Student Income form on the OSAP website in order to receive the second installment of their OSAP funds. Instructions will be sent to the students by the Ministry about a month before their second disbursement. 29. If I withdraw from studies, how will it affect my OSAP funding? Students must maintain satisfactory academic progress. That means that students are required to successfully complete the academic requirements of their program to continue to be eligible for OSAP. Frequent or multiple program switches, drops, withdrawals and/or repeats of programs that are funded by OSAP may be considered lack of academic progress and direction. Contact Enrolment Services for further details. These are some of the consequences to withdrawing from full-time studies while on OSAP:
The student s loans become repayable 6 months from the date the student drops below fulltime studies. An over-award will be created due to a reassessment of the student s OSAP entitlement as a result of their withdrawal. There will be OSAP Academic probation or restriction placed on a student s file because the student did not maintain good academic standing while funded by OSAP. 30. I ve received OSAP in the past but I m not receiving it in 2012-13. What can I do so that I don t have to start repaying my loans? Visit your financial aid office asap. You will need to complete a Confirmation of Interest-Free Status form. AWARDS Questions 1. How will I know I received an award? The University of Toronto begins offering Admission Scholarship at the time a student is admitted beginning in February and completing the scholarship offer process in May. Offers are sent out both with the admission packages and under separate cover during this time period. Most faculty and college scholarship offers are made at the same time. 2. How are awards paid? Payment will be applied to the student s fees account after registration in September. The scholarship funds are first applied to any fees owing. A deferment of fees may be requested if the scholarship value is at least the value of the minimum required fees payment. Information about fees deferral and fees payment is available at the Student Accounts website: http://www.fees.utoronto.ca/ 3. If I reduce my course load to part-time status, will this affect my eligibility for an award? In most cases yes, dropping to part time study will affect the eligibility for admission scholarships. In some cases the award value will be reduced or withdrawn completely and in some cases the student may appeal the registration requirement due to unforeseen or special circumstances. The scholarship committee will review the appeal and determine if special consideration is warranted.
4. How will an award affect my OSAP funding? Students who are receiving OSAP assistance during the academic year and receive a bursary/award or scholarship, are required to notify the Financial Aid Office, Enrolment Services of the additional funds received. To determine if the bursary has made a difference in your OSAP assessment, please visit the OSAP website regularly at http://osap.gov.on.ca Last Updated: November 1, 2012