Release of OSAP Funds
Our goal is to ensure your OSAP funding arrives within the first few days of classes. To receive your OSAP funding you must be registered as a student and have a complete OSAP application. Make sure your deposit is paid on time and that you are registered in your program. Also check the OSAP website to make sure there are no outstanding document requirements on your account.
Confirmation of enrolment
If there are no items outstanding and the status on your OSAP account reads ‘Confirmation of Enrolment’ that means that OSAP is waiting for the college to confirm your enrolment. This is an electronic process; no further action is required from you. The confirmation of enrolment process starts about a week before the beginning of each term. After your confirmation is complete, the National Student Loan Service Centre releases the funding within five to 10 business days.
Release of OSAP funds and remitting fees
If you are a fall/winter student, OSAP will be released in two installments; one in the fall term and one in the winter term. Loans are released 60 per cent in fall and 40 per cent in winter, while grants are split equally between each term.
As of September 2018, students no longer have a choice on remitting OSAP directly to the college. Full-time OSAP funding will go directly to the college to pay tuition & fees. It is your responsibility to monitor both your OSAP account and student account to make sure all fees are paid on time. Please monitor your student account on the Student Portal via the “Financial” tab. Visit the OSAP website to monitor your OSAP account. If you have more OSAP funding than is required to pay your fees, the remainder will go directly to your bank account. You should receive your funding at about the same time the college receives the money to pay your fees. You may see some different amounts deposited on different days. Loans and grants often come in separate installments.
Your fees will not be paid if your OSAP is not finalized, so make sure you have completed all the steps and submitted all your documentation on time. We recommend you complete the OSAP application and submit all documentation at least six to eight weeks before the start of your study period. If your OSAP assessment is not enough to cover all your fees, then you must make sure that you pay the difference by the fee due date. If the full amount of your fees are not paid by the due date, you will be assessed a late fee.