How to repay your student debt

How to repay your student debt

You have six months after you graduate or leave full-time studies before you need to start repaying your OSAP loan. This is your 6-month grace period.

If you graduate or leave full-time studies before September 1, 2019:
You will not be charged interest on the Ontario portion of your loans during your 6-month grace period.

If you graduate or leave full-time studies on or after September 1, 2019:
You will be charged interest on the Ontario portion of your loan during your 6-month grace period. This interest will be added to your loan balance (“loan principal”).

You start to repay your loan at the end of the 7th month after you leave school.

Extending your Non-Repayment period
If you’ve recently completed your studies, you can apply to have your Non-Repayment period extended for an additional six months through one of these two programs:

One-Year OSAP Non-Repayment Period for Entrepreneurs: for the owner or joint owner of an eligible new business located in Ontario.

One-Year OSAP Non-Repayment Period for Not-for Profit Employees: for borrowers working at an eligible not-for-profit organization in Ontario.

 

Pay Back your OSAP

NSLSC.jpg

 

The National Student Loans Service Centre (NSLSC) is now on YouTube! Check out their channel. It's a great resource for information on the support they offer students on OSAP throughout their student loan experience

You can now watch the NSLSC Repayment Webinar On-Demand via the new link below (click on image). This additional feature means that you can now watch a Repayment Webinar whenever it is convenient for you. You can also pre-register for a live online session through the OSAP Repayment webinar link below.

National Student Loans Servicing Centre

On-Demand OSAP Repayment Webinar Link - Watch Now!

Pay back your OSAP

Repayment Assistance Plan

Repayment Handout for Students (PDF)