OMG UPDATE: Question? Answer.

Updated on Monday, March 9


In third year math, currently on co-op. Thinking of taking a term off this summer to deal with depression issues and coming back in fall. Anyone knows how I can avoid the osap interest?


  1. Interest only accumulates six months after you graduate. Don't hand in the OSAP extension form for spring. It's only four months out of school, but once you enrol again for OSAP and school in the fall, I'm pretty sure they will withdraw any form saying that you have to pay them back. I always get letters from student loan services whenever I'm on co-op. Then it stops during school.

    However, I don't have all the answers, but check out the student aid website:

    They know this better than I do. Good luck! I hope taking the spring term off helps you out :)

  2. 1 is completely right. Just to add, for those of you who did not apply for OSAP during a study term for whatever reason (i.e. you forgot or it passed the deadline), to maintain interest free you may want to fill out and submit this form below before the deadline:
    For more info go here:
    It is advised to create an account with National Student Loans Service Centre (NSLSC) if you have not done so already to see your loan information: how much you OSAP loans you owe NSLSC, how to pay back your loans, payment options etc.
    Remember your OSAP loans are payed out to the National Student Loans Services not to directly to OSAP.

    Hope you feel better OP :) Don't stress.