OMG UPDATE: Question? Answer.

Updated on Sunday, May 25


QUESTION: I'm in the Math Faculty. I have two courses to go before I finish my undergrad but I took a year off (My last term was Fall 2013 and I m returning to complete my two courses in Fall 2014). Does that mean OSAP will start charging me interest soon since I've been out of school for 6 months now? I'd really appreciate some insight and any course of action I should take. Thanks a bunch. :)


  1. No I don't think they charge you until you are out of school or 6 months after you graduate. If you're still in school you shouldn't have to be paying!

    1. OP here -- Okay, but am I still considered to be "in school" given that I am not taking any courses in the 8 months that I am off?

  2. There is a form to fill out for people on co-op for 8 months, not sure if there is something similar for your situation.

  3. Yes, they will. I was out of school for 8 months because I got into a professional school before completing my degree and they started demanding the payments even though I told them I'm not actually done school. Once you go back to school, you can stop paying. So in your case (like mine), you'll have to pay for the last two months before going back to school. Interest started accumulating once you stopped school but no payments are required until 6 months after you've "stopped."

    They have a payment assistance program, where they will lower your required payments if your income is low. I chose not to take this option because it goes on your loan record as "unable to pay" or something like that.

    I highly recommend calling the OSAP people and discussing all of your options. I believe they start taking the money out of your bank account with or without your knowledge after 6 months (because of that form we had to complete once). Hope you get this all sorted out!