Students who are Canadian citizens or permanent residents may be eligible for financial assistance from their provincial governments. Applications for the Fall session are usually available in late May or early June. It is recommended that you apply for student loans at least 10 weeks prior to the start of the new academic year. Please note that you may only ever hold student loans from one province.
Getting Your Money
After you have submitted your online Ontario Student Assistance Program (OSAP) application and provided the OSAP consent and declaration signature pages with supporting documentation to Enrolment Services (172 St. George Street), please bring the following items to a designated Canada Post outlet in order to have your MSFAA forwarded to the National Student Loans Service Centre (NSLSC) for processing:
U of T will confirm your registration through an electronic process for eligible students who have completed their MSFAA. You are considered registered as soon as you have paid tuition and incidental fees or have requested to register without payment (i.e., fee deferral).
Review further information on the complete process of how OSAP funding is released and how to register without payment (i.e. fee deferral).
Reporting Changes & Updates to Information
If your circumstances or those of your spouse (if applicable) change while you are in school, you must promptly inform Enrolment Services of these changes.
Maintaining the Interest-Free Status on Your Previous Loans
Should you not qualify nor require OSAP for 2015-16, but wish to maintain interest-free status on previous Canada/Ontario Student Loans, you must complete a continuation of interest-free status (schedule 2) form before the end of the study period. Forms are available at the School of Graduate Studies (SGS)' Student Services office at 63 St.George Street. Note: Biotechnology, Information, Management, OISE, and Social Work students may obtain the form at their home graduate unit.
The information will then be electronically forwarded to your lender and/or the NSLSC. Check with your lender(s) to ensure they have up-to-date information on your current registration.
If you have held student loans from a province other than Ontario, please check the directions on maintaining your interest-free status through the Government of Canada's CanLearn website.