Once your application is completed and reviewed, the government sends you a “Notice of Assessment” with the amount of your actual OSAP entitlement. Use this information to begin planning your budget for the academic year.

NoteMaximum amounts of potential OSAP aid can be found on the government OSAP website.

In the fall/winter session, OSAP aid is released in two installments: one in September (60% of funds) and one in January (40% of funds). Students who apply for OSAP aid only for one term of the fall/winter session receive only one installment, at the start of that term.

Once your enrolment is confirmed, the Ministry will automatically send part or all of your funding installment to York to be applied directly to the outstanding balance of your student account. As of the 2018-19 academic year, this remittance by the Ministry is no longer optional. The amount and date of the direct payment(s) made to York will be visible on the government OSAP website. Any remaining balance will be sent to you by direct deposit.

To avoid late payments and interest charges, you must ensure you check your monthly student account statement and your OSAP web account to ensure that the amount directed to your student account covers your outstanding fees. If the amount directed by OSAP to your student account is less than the amount due on your student account statement, please ensure you make a payment to cover the difference.

If you have applied for OSAP aid by June 30, then no late charges will be applied to your account for the fall session until October 10 and the winter session until February 10.

For more information about how the redirection is calculated, please visit the Directing OSAP Funds to York University web page.

OSAP Overpayment

Students are considered to have an overpayment if they have been issued Full-Time OSAP grants and/or loans in excess of their entitlements as of the end of their academic year.

Students are ineligible for Full-time OSAP in subsequent academic years if they have:

  • Overpayments in three (3) or more academic years of $2,000 or more; or
  • Overpayment(s) in one or more academic years totaling $10,000 or more.

Only grant and/or loan overpayments of $2,000 or more are counted as payable toward an overpayment restriction.

Students with an overpayment restriction who are in full-time studies can continue to receive Continuation of Interest Free Status (CIFS). Students with a restriction who are not in full-time studies remain eligible for the Repayment Assistance Plan (RAP).

If you are expecting a second OSAP instalment (40% of your total OSAP entitlement), York will check and electronically confirm your registration status at the end of December. Once confirmed, the funds will be released by the Ministry after classes begin in January. Around late November the government will notify you, via email, to go online to confirm or update the income information you provided on your OSAP application. This step is important so that your OSAP entitlement is calculated correctly. As you are probably aware, the government performs an income verification with Revenue Canada at a later date (usually in June/July) to confirm that income on your OSAP application is consistent with the income you reported on your income tax forms. If you reported incorrect income to OSAP, you may be reassessed, and ultimately, may affect your future OSAP eligibility. Students who apply for OSAP for only one term (fall or winter) receive their full OSAP entitlement in one instalment.
When you receive any Canada Student Loan or Ontario Student Loan, you assume the following responsibilities:

  • To read and follow all the terms and conditions of the Canada Student Loan and Ontario Student Loan as outlined on the back of each loan document.
  • Agree to use this loan assistance to pay your academic fees to York University first and then to cover any other educational and living expenses related to your studies.
  • To make appropriate repayment arrangements with your lender when you cease full-time studies.
  • To promptly advise our office if:
    • You reduce your course load
    • You change your program of study
    • You fail to progress academically
    • You withdraw from your studies
    • There is a change in your marital status
    • Your (or your family’s) financial situation changes

Both the provincial and federal governments take these responsibilities very seriously. If you fail to meet your obligations, any of the following may occur:

  • Reassessment of your OSAP entitlement
  • No future student loan assistance
  • Bad credit rating
  • Additional interest charges
  • Collection proceedings
  • Legal action
  • Loss of income tax refunds