OSAP

1. OSAP This presentation outlines how OSAP works, appeal options and clarification on some confusing sections of the application

2. What is OSAP? • Ontario Student Assistance Program - ALL need-based provincial and federal student assistance funding in Ontario • Remember: It is an ASSISTANCE program! • Funding can be issued as: • Integrated Canada/Ontario Student • Up front : • for high need families (and Crown Wards) • 30% off Ontario Tuition • Students with a Permanent Disability • A at the end of the school year: • “forgives” a portion of your loan • (= Ontario Student Opportunity Grant) LOANS GRANTS GRANT

3. How does OSAP work? • Apply for OSAP each year (usually early May) • OSAP calculates what they think you need – you won’t be asked for any actual costs! • Look into appeals/reviews to address exceptional circumstances • Funding is paid out in 2 installments: 60% in Fall & 40% in Winter • Your funding can change throughout the year – remember to CHECK your funding status REGULARLY by logging onto the OSAP website

4. Who is involved in my funding? OSAP (government) National Student Loans Centre = “OSAP Bank” School Financial Aid Office (FAO)

5. The OSAP cycle At the end of the school term: interest starts after you finish full-time studies. To reverse interest & go back into non-repayment: WITHIN6 months, YOU need to let OSAP know you’re full time by: Year 1: get OSAP funding  Complete a CIFS form If you don’t needOSAP or if your funding is delayed  Get new OSAP Apply early & complete your application! When Financial Aid confirms your enrolment at the start of the new school year you go back onto interest-free status OR You go into repayment on ALL OSAP 6 months after you finish full-time studies (i.e. graduate!) When does the cycle stop?

6. The Application Create your Student Profile by selecting here

7. The first time you log into OSAP, you need to select “new user registration”

8. Step 1: Agree to the terms & conditions

9. Step 2: Create your PROFILE Beatrice Must be your “legal” name Prior You can find this # on your report cards!

10. Remember this password! You will need it every time you try to access your OSAP information online! Must be <12 characters, 1 capital letter & letters & #s only!

11. Update your email address through the PROFILE

12. Say “yes” here if you want to allow someone other than yourself to get access to your OSAP information • Heads up! This consent will stay on file for 5 YEARS! Keep this in mind if you share your OSAP login with anyone • If you want to add someone later, it can be updated online …like parents!

13. You will be assigned an “OAN”… it’s for LIFE! 810199999

14. Step 3: Complete a funding application for the current year Do NOT complete both a Full-time application AND a 30% off Ontario Tuition Grant application!

15. You will be asked to review your “profile” information EVERY TIME you complete a new application Select “change” if you need to modify any of your basic personal identifiers

16. If you see “change required”, only your FAO can make the change but you will be given instructions

17. Pick your school Take your time and ensure the correct school shows up before you leave this page – the application is school-specific so if you pick the wrong school and submit, you’ll have to start all over again!

18. The student number is the one assigned to you by your university/college…NOT your high school ID! If you choose this option it will be YOUR responsibility to pay fee installments by the deadline! This question will only appear if you’re applying to a school that deducts fees from OSAP

19. Pick your program …and the correct year of study

20. Determine your “status” Start at the top and pick the first answer that is accurate

21. Report your income (not parents’) You’re doing a “best guess” right now – OSAP will ask you to confirm your income online later in the term. At ANY time of year: you can make a change in writing through your Financial Aid Office TRUST THE DATES! Report the TOTAL for 8 months. For RESPs – only report what you are cashing out this year

22. Report your assets – not your parents’

23. Provide parental info Start at the top and pick the first option that applies to you biological

24. DO NOT GUESS what your parents’ income might be – these numbers are verified with the Canada Revenue Agency! Watch out! “Other income” is income NOT already reported in the section above!!! If you pick this option, you will be asked to provide documentation to support a Family Breakdown!

25. x x Check the definition of “dependant children” to ensure that you accurately represent family information

26. You can submit your application for processing now or exit to come back and make changes at a later date –don’t forget to submit it when you’re done!

27. Step 4: Print required documentation Print your MSFAA and take it to a designated postal outlet for processing early in the summer

28. What is a Master Student Financial Assistance Agreement (MSFAA)? • Your “contract” with the government and the National Student Loans Centre to repay your debt • Tells the Loans Centre into which bank account to deposit your OSAP funding – must be an account in YOUR name • MUST be processed with a designated postal outlet BEFORE you start school: • Print and complete the document • Take the first 2 pages of the MSFAA, your valid SIN proof, government-issued photo ID and bank account information (voided cheque, direct deposit info from bank, etc) to a clerk at the postal outlet…it has to be YOU! • Only needs to be done once -the first time you apply for OSAP – it will cover you for the duration of your study as long as you don’t take a break of >1 year

29. More stuff to print You will only have to submit signature pages the first year you apply, unless something changes in your family situation • Print both sets of signature pages : • Use the UPLOAD option • OR • mail them to the Financial Aid office • The option to print the signature pages won’t come up until you SUBMIT your application Your list may be longer, depending on what information you provided in your application; follow instructions for supporting documentation for each requirement

30. If you “saved” your application or want to “check status”… On the OSAP home page: You should “check status” regularly throughout the year to stay informed of changes to your funding, what’s issuing when, etc.!!!

31. To work with an existing application, click the appropriate year

32. A complete application will show “SUBMITTED” Once you “submit” the only way to make changes is in writing to your Financial Aid Office

33. So, how much OSAP can I get? • Single student • Living at home for the summer • Going away to university • Worked part-time during last year of high school - saved $500 • Will earn $2000 during the summer • Awarded entrance scholarship of $1000 • Not going to work while at university • Parental income is $75 000 • 2 parent family with 2 kids (including you – you’re the only one going to university/college) • Travel cost to visit home (one round trip) is $100

34. = “loan forgiveness” Actual cost will be closer to $19000!

35. OSAP recognizes…

36. OSAP Review/Appeal options “Real life” situations which may be considered include the following: • Family breakdown • Exceptional Parental expenses • Lower Estimated Income (parents) • Lack of summer employment • Additional local travel (living at home & commuting to campus) • Home within 30km but do not live with parents

37. Your obligations: • Report accurate information on your OSAP application • Meet application deadlines • Let your FAO know right away of any changes to your circumstances (or your parents’) • Let OSAP know every year you’re back in school full time: either by completing a new application each year or with a CIFS • Budget your funding carefully for the whole year and make sure your fees are covered, even if you told the school to pay with your OSAP • Successfully complete each year of study!