Someone i know got an $4500 OSAP (Ontario Student Assistance Program) loan, but she heard that if she doesn't get over 60% on all her courses this (her first) year, she'll have to give it back. Apparently, if she gets over 60%, she won't have to give it back after she's out of university, and no interest will be due until then? Will she really have to give it back now if she gets under 60%?

You should call them and find out.

I cant say ive heard of that one, although ive never had to apply for it.

I have heard of guys spending their osap on car parts though

___________________
Trance in my pants

60% = minimum 60% course load = Part time students (<60%) aren't eligible for OSAP

..has nothing to do with grades.

___________________

"In a world of illusion you only see what you feel"

Have fun paying it back though....I have friends who have been out of school for 10 years and are still paying back OSAP

___________________

quote:

Scott has been introduced to the rave scene, and Ecstasy, by Craig. The two of them go out on the weekends, with some of Craigs friends, and stay up all night, dancing in a drug-fueled trance.

Last edited by Moral Hazard on Apr-26-2011 at 07:48

i dont think academic performance is related to the payment terms unless they cause her to drop out. However if you do fail for 2 years or have a lack of academic progress it will jepordize your ability to get the loan again. I failed my first year i hope that doesn happen to me

exactly what swamper said, 60% course load, NOT 60% course marks. Marks aren't really an issue for osap. Although, if you can't keep an average over 60% maybe you shouldn't be in uni anyways

quote:

Originally posted by ChemEnhanced Have fun paying it back though....I have friends who have been out of school for 10 years and are still paying back OSAP

Unfortunately for some there really is no other option.

quote:

Originally posted by ChemEnhanced Have fun paying it back though....I have friends who have been out of school for 10 years and are still paying back OSAP

You know ppl are always saying this.. but when you think about it...everyone will be in debt at some point in their lives anyways... if you are responsible with your OSAP loan then it won't be so bad paying it off...especially if you do well in school with it and land a wicked job with a wicked income
Responsible being the operative word... which is why i do not have an OSAP loan hahaha

Nikitha

___________________
Take me home, in time you'll love me like one of your own..take me home.. with you.. no one on earth knows me like you do....

quote:

Originally posted by Nikitha You know ppl are always saying this.. but when you think about it...everyone will be in debt at some point in their lives anyways... if you are responsible with your OSAP loan then it won't be so bad paying it off...especially if you do well in school with it and land a wicked job with a wicked income Responsible being the operative word... which is why i do not have an OSAP loan hahaha Nikitha

the only problem is you are put behind the 8 ball before you even get out of school....in all honesty....doing good is school doesn't mean you will get a good paying job....luck and knowing the right people is what gets you a job.

Being in debt for something like a house is much different as it's an asset....school debt just makes it difficult to move forward in your life....to do things like save for a house or car.

___________________

quote:

Scott has been introduced to the rave scene, and Ecstasy, by Craig. The two of them go out on the weekends, with some of Craigs friends, and stay up all night, dancing in a drug-fueled trance.

Last edited by Moral Hazard on Apr-26-2011 at 07:48

I don't believe that there is a mark requirement for maintaining an OSAP loan but you should check the OSAP webpage to be sure - you can find it with a quick google search. I would be really surprised it there was a minimum mark requirement.

Also, there is another bonus to having OSAP loans. Once your friend is out of school, the interest paid against the load is tax deductible.

___________________
www.scienceandreason.com
theballoonman.wordpress.com

quote:

Originally posted by Nikitha You know ppl are always saying this.. but when you think about it...everyone will be in debt at some point in their lives anyways... if you are responsible with your OSAP loan then it won't be so bad paying it off...especially if you do well in school with it and land a wicked job with a wicked income Responsible being the operative word... which is why i do not have an OSAP loan hahaha Nikitha

I've got to work on that whole responsible thing.

___________________

Check out more of my ramblings at:
http://thedailyuniverse.blogspot.com/

Where Are The Tunes?
Good things happen to good people