Release of OSAP Funds
OSAP is disbursed in two installments: 60 per cent at the beginning of your study period and 40 per cent part-way through your study period (usually at the beginning of second semester).
Funding cannot be released in advance of your study period. You have to be enrolled as a student in order for the funding to arrive. Our goal is to ensure your funding arrives (either to you or the College, depending on your payment arrangement) within the first few days of classes, as long as your application was fully completed in advance of your start date.
Conestoga College will confirm your enrolment automatically after all required supporting documentation has been submitted. If you have elected to automatically pay your tuition and fees, the National Student Loan Service Centre will direct the amount stipulated in your Tuition Fee Agreement to Conestoga College.
Please note that if you elected not to automatically pay your tuition and fees, your OSAP installment will be deposited in full to your bank account. You will then be responsible for paying your tuition and fees according to your Tuition Fee Agreement.
Full-time OSAP funding can go directly to the college to pay your tuition as long as you indicate on your OSAP application that you want the funds to be redirected to the college. Please monitor your student portal via the “Financial” tab; it is your responsibility to pay any outstanding fees.
For instance, OSAP payments will not come to the college if you:
- elected not to redirect your OSAP funding to the college when you applied for OSAP.
- are receiving provincial grants which are ineligible for direct transfer.
- have not yet finalized your OSAP.
- received enough funding the first term but not enough the second term to cover fees.
- received an OSAP assessment/reassessment lower than your tuition amount.
Funding would go directly to the student in most of these cases, as well as when there is extra funding that is not needed to pay your tuition. The funding will go to the student via cheque or direct deposit depending on the arrangement made on the application.