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#1 Elisha

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Posted 05 July 2011 - 09:02 AM

I have a question about OSAP. DH went to school last year and he received OSAP. While he got a job now and we were told once he got a job he had to start paying back his OSAP. How do you let OSAP nkow he got a job? Or what do you do to start paying them? Any information on this would be GREAT.

#2 Kris

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Posted 05 July 2011 - 09:03 AM

you are supposed to start paying them back 6 months after graduation

#3 Jen.Uh.Fur

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Posted 05 July 2011 - 09:10 AM

you are supposed to start paying them back 6 months after graduation


This, although that time is NOT interest free, most people assume that.

He should receive a letter that tells him how much his monthly payments are, how much he owes total, and when the payments have to start being paid.

#4 mom2nico

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Posted 05 July 2011 - 09:15 AM


you are supposed to start paying them back 6 months after graduation


This, although that time is NOT interest free, most people assume that.

He should receive a letter that tells him how much his monthly payments are, how much he owes total, and when the payments have to start being paid.


Yup to all of this! I'm pretty sure he can call and find out the details if he hasn't received his letter (especially due to the strike). I've never heard that you don't have to pay until you have a job. 6 months is what I was given, but yes, it was NOT interest free and the amount adds up quickly because of the interest. I believe the letter gave options for if you want to pay the interest for the 6 months up front or roll it into your payments.

#5 Jill

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Posted 05 July 2011 - 09:22 AM

I am using the repayment assistance feature.. It's good because I don't have to pay anything right now.. Gov has been paying and will be paying for a whole year when the second term is done. The only issue there is that my income is low enough for them to pay, but not low enough for them to pay more than my interest, SO.. I'll still have basically the entire amount due when I have to start paying in November.

OSAP is a good thing and a very bad thing, all rolled into one. I could never had gotten my degree without it though!

#6 murkywaters

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Posted 17 July 2011 - 10:05 PM

is all the interest a tax right off though. I can't remember if this is what DH got or not... it's been a lfietime ago.

#7 mom2nico

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Posted 17 July 2011 - 10:07 PM

is all the interest a tax right off though. I can't remember if this is what DH got or not... it's been a lfietime ago.


OSAP is the only loan that has interest that can be used as a tax right off. I've tried to use my interest on my student line of credit from the bank, and they won't allow it which pretty much stinks when you barely qualify for any OSAP so you have no choice but to get a whopping loan from the bank.

#8 Jill

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Posted 18 July 2011 - 09:19 AM

There are ways to appeal with OSAP though, if you need more money. They tend to give you a lower number, especially if you own a newer car, etc. But you can appeal and explain why some things are a necessity, and they reconsider.