Reminder: Keep Your Previous OSAP loans Interest-Free
If you have previously received OSAP funding, it is important to remember that if you are a registered full time student, you are eligible to keep your OSAP loans interest free and out of repayment.
For most students, you last attended post-secondary full time in April 2012. This means that interest will begin accumulating on your previous loans as of November 1, 2012 and you will be required to make your first payment November 30, 2012. In order to avoid this, you will need to complete one of the following before November 1st;
| You have applied, and been approved for OSAP for the upcoming academic session | Take your MSFAA to a designated Canada Post outlet to ensure that the Awards Office is able to confirm your enrolment and that your funding can be released before your 6 month grace period expires. |
| You have applied for OSAP for the upcoming academic session but it will not be released before the end of your 6 month grace period, or your application has been refused | Complete a Continuation of Interest Free Status form, and submit it to the Awards Office before your 6 month grace period has expired. |
| You have not applied for OSAP for the upcoming academic session | Complete a Continuation of Interest Free Status form, and submit it to the Awards Office before your 6 month grace period has expired. |
