o s a p for 2012 2013 n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
O.S.A.P. for 2012/2013 PowerPoint Presentation
Download Presentation
O.S.A.P. for 2012/2013

Loading in 2 Seconds...

play fullscreen
1 / 29

O.S.A.P. for 2012/2013 - PowerPoint PPT Presentation


  • 100 Views
  • Uploaded on

O.S.A.P. for 2012/2013. Presented by King’s University College. Our Mission. To convince everyone that it is possible to obtain a post-secondary education no matter what your financial situation. The Whole Picture. Scholarships Bursaries Awards. Student’s Savings. Parent’s Contribution

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'O.S.A.P. for 2012/2013' - berit


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
o s a p for 2012 2013

O.S.A.P. for 2012/2013

Presented by King’s University College

our mission
Our Mission

To convince everyone that it is possible to obtain a post-secondary education no matter what your financial situation.

the whole picture
The Whole Picture

Scholarships

Bursaries

Awards

Student’s Savings

Parent’s

Contribution

& RESP

Student’s

Employment

OSAP &

Other Gov’t Programs

www osap gov on ca
www.osap.gov.on.ca

“Its purpose is to supplement, not to replace, the financial resources that you (and your family, if applicable) are expected to contribute.”

https://osap.gov.on.ca/OSAPPortal/en/OSAPBasics/WhatIsOSAP/index.htm

osap is more than just a loan
OSAP is more than “Just a loan”

14 different programs are determined through one OSAP application

ontario student opportunity grant
Ontario Student Opportunity Grant

“The purpose of OSOG is to limit a student’s repayable Canada-Ontario Integrated Student Loan debt to $7,300.00 for a two-term academic year”

  • Students and parents if applicable, must file taxes to be considered
  • Grant sent directly to NSLSC as payment to prior years loans

https://osap.gov.on.ca/OSAPPortal/en/A-ZListofAid/PRD9211491.html

why should you apply for osap
Why should you apply for OSAP?
  • The OSAP Loan is an interest free loan as long as you are attending a post secondary institution full time (60% or greater)
  • Federal Interest Rate = Prime + 2.5 / Provincial Interest Rate = Prime + 1.0
  • OSAP offers a grace period. OSAP loans are payment free for the first six months after you graduate. The Ontario portion of OSAP loans are interest free for six months after you graduate.
how do i apply
How do I apply?

Online at http://osap.gov.on.ca

new student vs renewal
New Student vs. Renewal

New Student? Click Here

Important to remember your OAN and Password

my osap
My OSAP

Ontario Tuition Grant (OTG)

osap loan counselling
OSAP Loan Counselling
  • Each student will be required to complete the OSAP Loan Counselling Session before reaching the OSAP application
  • Done every year when creating a new application
post secondary institution information
Post Secondary Institution Information

Make sue that you are applying to the proper campus.

program information
Program Information

Be sure to select the right program

review course details thoroughly
Review Course Details Thoroughly

Note the tabs – if you needs to exit the application, it is easy to return where you left off

student income section
Student Income Section

Note the dates for which you are estimating income

Amount represents what you will claim on Line 150 of your 2012 income tax.

asset information
Asset Information

This day is known as asset validation day. You must record all of your assets by this day.

Validation day is 16 weeks prior to the study period date.

The Ministry allows you to have $2000 in RRSP for every year out of high school.

parental status
Parental Status

Dependent Children: For OSAP purposes, dependent children are disabled children, pre-school children, children attending elementary school who are under 16 years of age. Children 16 years of age or older must be full-time (taking 60% or more of a full course load) high school or postsecondary student to be considered. Children who are not disabled and who have been out of high school for 4 or more years are not considered dependent.

parental income section
Parental Income Section

Taxable Income:

Enter the annual income for each parent, as reported on his or her 2011 individual income tax return. Enter amounts in dollars only; do not indicate cents. If no income or if the amount is negative (i.e. a loss) enter zero (0).

Other Income/Non-Taxable Income:

Any other funds that your parents receive, but do not claim as taxable income on their taxes (i.e. overseas income or child support).

sample notice of assessment
Sample Notice of Assessment

150

These figures are used to consider your eligibility for Canada Access Grants.

236

osap appeals
OSAP Appeals
  • Parent’s Estimated Income Review
  • Exceptional Family Situations
  • Exceptional Expense Review (i.e. legal costs)
  • Vehicle Exemption Review
  • Living Away from Home Allowance
  • Additional Travel Allowance
slide26

Not eligible for OSAP?

    • Schedule an appointment with your Financial Aid Advisor
  • Eligible for OSAP?
    • Check your status online and view your assessment
  • Errors/Documentation Missing?
    • Follow instructions or contact your FAA
slide27
Strict Identification Restrictions.Must present Social Insurance Card and Government Issued Photo ID.
  • NO ID
  • NO OSAP
  • NO KIDDING
how s your credit rating
How’s your credit rating?

Check with Equifax at:

1-800-465-7166

www.equifax.ca

important things to remember
Important Things to Remember
  • Don’t Self-Eliminate
  • Apply to OSAP before June 30th, 2012
  • Print off and mail in your signature sheets by July 15th, 2012
  • Check your OSAP status online for any “holds”
  • Find the Financial Aid Office at the institution you will be attending
  • Get the appropriate ID ready for September

Questions??

Email us at kingsfinances@uwo.ca