Updated regularly based on the most popular questions received by the ministry.
Q: Are private career colleges (PCC) accredited in Ontario?
A: In Ontario, potential employers determine whether a candidate's academic credentials meet the requirements of the advertised position. Students are always encouraged to check with employers and other educational institutions to determine if they recognize a particular PCC and the courses offered.
Q: I have completed my postsecondary studies and am no longer a student. When do I need to repay my OSAP loan?
A: You have a six-month grace period before you are required to make any loan payments on either your OSAP or your Canada Student Loan. No interest will accrue on the Ontario portion of your student loan during the grace period, however, interest on the federal portion of your student loan will start to accrue during this six-month period. Any voluntary payments during the grace period will be applied against your outstanding loan principle.
Please contact the National Student Loans Service Centre (NSLSC) or your lender within the first six months after you leave school to ensure that repayment arrangements are in order.
Q: What is the difference between a grant and a loan?
A: Student loans have to be paid back after you graduate, grants do not.
Q: Why do I have to bring in my SIN card, I know my number?
A: Requiring the actual SIN card is an important way of verifying personal information.
Q: I don't live at home, why do my parents have to fill out their information on my OSAP application?
A: Even if you live on your own, it is expected that your family will have planned for your postsecondary education and have put aside money to contribute.
Q: Why does the Ministry consider my car as an asset, especially since I owe on my car?
A: For single students, OSAP allows you to own a car "book valued" at up to $5,000 without your OSAP assistance being affected. A car worth more than $5,000 is considered an asset that could contribute to your education costs. Married and sole-support parents are allowed a car valued at up to $10,000.
Q: When will students start seeing improvements to Ontario's credit transfer system?
A: The new province-wide credit transfer system will be phased in over the next five years. Students can expect improvements starting September 2011. Learn more about credit transfer.
Q: What is the benefit of submitting my OSAP application now rather than later?
A: By submitting your application sooner, you and your parents can get an estimate on how much assistance you can expect and what information is required to complete the OSAP application process before you have actually been accepted or made the decision as to what institution you will choose.
Students who learn that they are accepted in February or begin receiving conditional acceptance in March from institutions can now begin the process earlier and have an easier time planning.
Q: What does the OSAP mobile app do? How does it help OSAP applicants?
A: The mobile app lets students who have already applied for OSAP quickly and easily check the status of their applications, anywhere or anytime. This means that students will no longer have to go online from home or call their institution's student financial aid office to find out where their application is in the process, how much assistance they will be getting and when they will receive it.
