Whether you’re entering your first year of university or your last, most students are thinking about how they’ll finance their education. The #YUBlog team wants to help you navigate a common source of funding for many students: OSAP. We’ve created a three-part series called “Understanding OSAP” to guide you through the complete application process. We are starting the “Understanding OSAP” series with insights into what happens after you’ve submitted your application to address the stage the majority of OSAP applicants find themselves in at the moment. We will also answer some of the most commonly asked OSAP questions. Stay tuned for the next posts in our series, “Before You Apply” and “Applying for OSAP” for students who will be starting their studies in January 2018.
Need a quick overview of the OSAP application process? Review York U’s OSAP webpage.
When should I apply for OSAP to receive funds for the 2017 Fall term?
The 2017-2018 OSAP application is now open. We strongly recommend that students apply for OSAP no later than June 30, 2017 to receive their funds at the beginning of the academic year. You can still apply for OSAP for the Fall term after that date; however, your funding will arrive no earlier than mid-October.
I applied: What now?
Once you have applied for OSAP and submitted all of your completed required documentation, you will have to wait for up to six weeks for your application and supporting documentation to be reviewed. Login to your OSAP account to check your application status at least once a month to make sure OSAP doesn’t need any additional information from you.
What if I apply late for OSAP?
The deadline to apply for OSAP as a full-time student is 60 days before the study period end date. If you are a York undergraduate in Fall 2017, your term ends on December 21, 2017, meaning that you should submit your OSAP application no later than October 22, 2017.
To apply, register or login to your OSAP account online and submit an application for the school you’re attending. Additionally, you will need to submit your supporting documentation and request for review (if applicable) to Student Financial Services no later than 40 days before the end of your term.
How can I change my OSAP information?
If you need to change your OSAP information (including changes in income, course load, family or study period status) or cancel your OSAP application, visit the OSAP Forms page on the York U Student Financial Services website.
Where can I submit my OSAP forms?
If you need to submit your OSAP supporting documents or change forms, you have three options:
Your web account: The most efficient option is to scan and upload your signature pages and supporting documents to your OSAP web account. The processing time for your completed documents ranges from one to six weeks.
Bennett Centre drop box: If you want to submit printed documents, you can use the drop box on the main floor of the Bennett Centre for Student Services at 99 Ian Macdonald Boulevard on the Keele campus. Please be aware that the processing time for documents submitted through the drop box is four to eight weeks.
Mail: The final option for submitting your OSAP supporting documents is to send your forms by mail to Student Financial Services.
Remember: if you are a first-time OSAP applicant, you must send your Master Student Financial Assistance Agreement (MSFAA) to the National Student Loan Service Centre (NSLSC) by mail. The MSFAA outlines the terms, conditions and responsibilities that you are assuming as a student loan borrower.
How can I ensure that I receive my OSAP funds by the start of term?
To receive your OSAP funds at the start of term, make sure that you complete your application carefully and submit it eight weeks prior to the start of your study term. You must include all supporting documentation, appropriate signatures and your MSFAA.
To learn more about receiving your OSAP funds in a timely manner, review the “Receive your funds” page on the Student Financial Services website.
I applied for OSAP. Why haven’t I received my funds yet?
There are a number of reasons why you may have not received your funding yet:
- If you recently applied for OSAP, your application is being reviewed. It can take up to six weeks for Student Financial Services to review and verify your information.
- You have not submitted your MSFAA and/or supporting documents. Your application will be on hold until the MSFAA and supporting documents have been received and reviewed.
- There may be errors on your application. Check your OSAP application status on the OSAP website.
- You may have made changes to your application after it was submitted that have changed your loan assessment.
- If you have applied for OSAP as a full-time student, you must be registered, active and enrolled in a full-time course load for the study period indicated on your OSAP application for York University to complete your confirmation of enrolment. It can take five to ten business days for the funds to be disbursed after your confirmation of enrolment is completed.
I applied for OSAP but have not received my funds. Who should I contact?
If you have questions about your loan debt, repayment or need to change your banking information, contact The National Student Loan Service Centre (NSLSC) by calling 1-888-815-4514. You can also register for the NSLSC’s webinar to learn how to repay your government student loans.
If you are having technical difficulties with the online OSAP application, you should consult the government OSAP website for assistance.
Success tip: OSAP aid is released in two instalments for the Fall/Winter terms: one in September (60% of funds) and one in January (40% of funds). Students who apply for OSAP aid for only one term receive only one instalment at the start of that term. If you have received your funds but the amount was less than you were expecting, check your OSAP assessment to see if the rest of your funds will be available in January.
I have questions about my OSAP application and/or financial aid. Who can I contact for financial advising?
Managing student loans and your OSAP application is a big responsibility and you don’t have to handle it alone. If you have questions about your OSAP application and aid funding that we have not addressed above, contact Registrarial Services for help. You can visit a Financial Aid Advisor at the Bennett Centre for Student Services at 99 Ian Macdonald Boulevard or give them a call at 416-872-9675 (416-872-YORK). Please note that the beginning of term is the busiest time of year for Registrarial Services and wait times are longer than usual. If you are planning to visit Registrarial Services, check wait times online.
Keep an eye out for the next two parts in the “Understanding OSAP” series. To learn more about OSAP, check out the “Eight Steps for OSAP” page on York’s Student Financial Services website.