What else should I know about OSAP?
Applying for OSAP can feel complicated, but it doesn't need to be difficult. If you're a new student or if this is your first time applying for OSAP, you may have some questions. We hope these answers help.
OSAP is open to Ontario residents who are:
- Canadian Citizens
- Permanent Residents, or
- Protected Persons
OSAP provides financial assistance for educational costs and basic living expenses.
REMEMBER: OSAP is not a replacement for your financial resources – it's meant to be part of your bigger budget plan. (Don't have a budget? Click here.)
Your grants and loans are intended to supplement, not replace, the financial resources you are expected to contribute to your postsecondary education.
The information you provide on your application will help determine the student and family resources that should be available for you to meet the financial demands of post-secondary education. OSAP uses this information, in accordance with the current OSAP regulations, to determine your need for assistance.
The amount of assistance you receive will depend on:
- Education expenses, including tuition, books, supplies and equipment, child care and personal living expenses
- Course load: Full-time 60% or more (40% or more with a permanent disability), or part-time (20%-59% course load)
- Personal finances such as your family's income, the number of dependents and your assets (like an RRSP)
If you drop a course(s) your OSAP funding could be reduced, or you might lose eligibility for further funding. You might also be placed on OSAP probation or restriction. Contact your Academic Advisor (SSA) and the Financial Aid Office before dropping courses.
Full-time students receiving Canada and Ontario Student Loans must be enrolled in at least 60% of a full course load per term (you can't average your course load). If you have a permanent disability, the requirement is at least 40% of a full course load.
Part-time students receiving Canada and Ontario Student Loans must be enrolled in a program or courses that equal 20% to 59% of a full course load per term (you can't average your course load). If you have a permanent disability, the requirement is between 20% and 39% of a full course load.
Note: only costs that relate to education are considered and students must make monthly interest payments on the loan balance.
Yes. You have the option to accept all of your OSAP funding (grant + loan), or only the grant. You can do this through your online OSAP account after your application is assessed.
If you change your mind later, you can request the loan online. You must submit your request no later than 40 days before the end of your study period.
You must submit your application at least 60 days before the end of the final examination period. All your required supporting documents must be submitted at least 40 days before the end of your current study period.
Generally, OSAP funding is given out at the beginning of each term, after Fanshawe confirms that you've started classes. Your timing may be different depending on when you submitted everything (including required documents).
Note: OSAP funding pays for your Fanshawe education expenses first, automatically. Any leftover amount will be deposited into your bank account.
Other OSAP FAQs
Contact the Finanical Aid Office with any question about OSAP.