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OSAP

Your Obligations

As a recipient of OSAP, you acknowledge and agree that University of Waterloo must forward the full amount of any refund of fees to the National Student Loans Service Centre for credit against your loan. You also understand you are responsible for promptly notifying our office of any changes to the information you have provided on your application. In addition, there are a number of requirements you must meet in order to maintain interest-free status and to remain eligible for future OSAP funds.

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Keeping Your Student Loans in Interest-free Status

If you have a previous Canada Student Loan, Ontario Student Loan, and/or Canada-Ontario Integrated Student Loan and plan to continue your studies, you must ensure that your previous loan(s) are placed in interest-free status so that you do not have to repay the loan(s) and interest while you are in school.
Note: For other provincial loan programs, please complete a schedule 2 form; available from the Student Awards and Financial Aid Office.

In order to maintain interest-free status, you must ensure that your previous lender and/or the NSLSC is informed that you are back in full-time studies. There are two ways to do so:

(a) If You Are Getting a New Canada-Ontario Integrated Student Loan
When you pick up your first portion of OSAP funding, you will sign your Confirmation of Enrolment form after which the ministry will electronically inform your previous lender and/or the NSLSC that you are still in school.

(b) If You Are NOT Getting a New Canada-Ontario Integrated Student Loan
Submit a signed Continuation of Interest-Free Status form to Student Awards & Financial Aid. Once your form is processed, the information will be electronically forwarded to your lender(s) and/or the National Student Loan Service Centre.

Note: We recommend you submit a Continuation of Interest Free Status form for each official co-op work term and any term during which you are in full-time studies but do not receive OSAP.

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Changes to your OSAP Application

The Ministry of Training, Colleges and Universities audits all OSAP applications to verify the income figures reported on your application with those reported on your income tax forms. False or misleading statements on your application may result in suspension of funding and prosecution. After submitting your application, you must inform the Student Awards & Financial Aid office in writing of any changes in:

Please submit an OSAP Application Update form, available on our website, to notify us of your changes. Please note some changes may require additional supporting documentation – contact Student Awards & Financial Aid for further information.

All new OSAP applicants will be subject to a check of their credit history to ensure that funding is not issued to individuals with a history of credit abuse.

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Satisfactory Academic Progress Requirements

Students must maintain a minimum satisfactory academic progress to continue to be eligible for OSAP funding.

Satisfactory academic progress is defined by OSAP as successful completion of at least 60% of a full course load (1.5 units). For students with a permanent disability, the standard is defined as successful completion of 40% of a full course load (1.0 units). Multiple or repeated course drops/withdrawals or cancellations, frequent or repeated program changes, or lack of clear direction are also considered indicators of unsatisfactory academic progress.

Student Awards & Financial Aid is required to monitor the academic progress of all students who receive OSAP funding. Students who do not meet satisfactory academic progress requirements during one term will be put on OSAP academic probation; two terms of unsatisfactory academic progress will result in a student being restricted from future OSAP funding.

If you are having difficulties with your studies, please contact your faculty for assistance. If you have questions about how these guidelines may affect you, please contact Student Awards & Financial Aid.

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