OSAP Process
- Visit the OSAP website for a Summary of a Typical Year for OSAP Full Time Students
Step 1: Processing Errors, Documents to support application and corrections
Approximately two weeks after a web application is submitted for processing, the applicant will receive a "web package" in the mail. This package will contain a signature page that the student must submit back to their educational institution's Financial Aid Office for keying. The student must ensure that all appropriate signatures are provided. The signatures allow the Ministry to verify reported income with Canada Customs and Revenue, to collect and disclose personal information with scholarship administrators and to collect information from the Social Insurance Register.Along with the signature page, the student may receive a "Request for Supporting Documentation" which may mean a marriage certificate should be submitted to the Financial Aid Office to be kept on file, etc. The student may receive a "Processing Status Notice", which lets them know that there is an error on their application, which may need their response. In some cases the Financial Aid Office will be able to correct the error without any action from the student (cost code). The applicant should monitor the progress of their application through the OSAP website to ensure that it continues to process.
Step 2: Notice of Assessment/Entitlement
Once the application (web or booklet) application processes and the student's financial need is assessed, the student will receive in the mail a "Notice of Assessment". The student will be told of their entitlement for Canada Student Loan and/or Ontario Student Loan. They may receive a "nil assessment", which tells the student that their resources appear to be sufficient to meet their allowable educational costs.
Step 3: Loan Pick-ups
Once the loan documents and other associated forms are received by the Financial Aid Office, they are collated and "invitations" are sent to the students telling them when, where, and how to pick up their OSAP. Students MUST bring their validated student ID card, their SIN card, one piece of government issued photo id and proof of fee payment or deferral. The student will need to declare actual earnings/income from their summer off of school and any changes to their in-school income, study period, program, etc. They will then sign a "Confirmation of Enrolment" which is keyed to update their application and which also sets up the production of their second term loan. Any fees owing to the educational institution will be "written off" of the loan. Students should be prepared to wait in line and bring reading materials with them. Babies and small children do not enjoy this experience!
Step 4: National Student Loan Service Centre
This is the clearing house for student loans. During the peak loan release times, the NSLSC has service kiosks at most educational institutions to accept the loan documents and to forward them to the NSLSC. Students are also able to use selected Canada Post Outlets to drop off their student loans. Students MUST hand in a completed "Student Loan Agreement" along with the loan document. They would also be required to attach a blank voided cheque or provide complete banking information (bank, branch, transit number and account number) so the NSLSC knows where to deposit the funds. Once the loans are received by the NSLSC, they are logged and checked for completeness. Any "exceptions" (errors, missing signatures) are sent to the "Exception Handling Department" for action. The student might receive a phone call or receive the document back in the mail. Ideally, the turn-around time for the funds being deposited into the bank account is one week, all going well with no errors. The NSLSC will also be responsible to forward the any remittance to the educational institution.
