Your Responsibilities
As the recipient of a government student loan, you assume certain responsibilities and obligations. Among these are that you:
Read and Understand the MSFAA
Read, understand, and adhere to the terms and conditions stipulated in your Master Student Financial Assistance Agreement (MSFAA).
- Refer to the MSFAA for more information.
Provide Accurate Personal Information
Provide personal and financial information in your OSAP application that is, to the best of your knowledge, accurate at the time of completion.
- Refer to important dates and deadlines for Awards and Financial Aid, including OSAP.
Reporting Changes to Your Application
Notify the Awards & Financial Aid Office immediately if:
- You reduce your course load
- You change your program of study
- You withdraw from your program
- You or your family’s financial information changes
- Your marital status changes
- You decide to attend a different post secondary institution
- You do not want your student loan funding
Note: Your income is verified by OSAP. Not reporting changes could affect your eligibility for current and/or future funding.
Meet OSAP’s Minimum Academic Requirements
While you are receiving funding from the Ministry, you have a responsibility to maintain satisfactory academic progress in your program of study. Failure to meet this standard can result in you being placed on academic probation. This can impact your eligibility for future funding.
Keep Your Loans in Good Standing
Inform the National Student Loan Service Centre if you have returned to school full time and will not be applying for, or receiving, government assistance. You’ll need to complete the Continuation of Interest-Free Status application, which can be found on the OSAP website. Instructions on how to apply can be found on the Government of Ontario website.
- Failure to notify the NSLSC that you are enrolled as a full time student will result in your previous loans entering repayment sooner than you expect!
- Repay the loan portion of your OSAP once you are no longer a full time student.
- Find more information on repaying your loan.