Maintain Interest Free Status

Continuation of Interest-Free Status (CIFS) Application

Students are required to submit an online CIFS application through the OSAP website. Please submit your application online starting 15 days prior to the study period start. The deadline to submit is 21 days before the study period end date. Maintaining your “interest-free status” means that you do not have to repay your OSAP loan while you are in school and that the Government of Canada and/or the Province of Ontario will continue to pay the interest on your loan.

  • If you do not keep your loans in interest-free status, you will be required to start repaying your loan(s) within six months of the end of your last study period.
  • Interest-free status is when you are not expected to make monthly payments on your outstanding loans from OSAP.

How do I apply for the Continuation of Interest-Free Status (CIFS)?

  • The online CIFS application maintains interest-free status for full-time students who previously received OSAP
  • Submit an online CIFS application via the OSAP website at least 21 days before the last day of the study period
  • Your information is sent to OSAP and the NSLSC electronically
  • Minimum full-time course load:60% course load per term or 40% course load per term for students with permanent disabilities

If you’re getting OSAP for full-time students, that’s done for you automatically once your school confirms enrolment.

If you’re not getting OSAP and continuing in full-time studies, you will need to complete an online CIFS application.

If you previously received student loans from a province outside of Ontario or previously had part-time student loans including OSAP schedule 2 form will be required to maintain interest-free status.

When do I apply for interest-free status (CIFS or Schedule 2)?

  • At the beginning of the study period or work term (September, January, May)
  • Online CIFS applications must be submitted 21 days prior to the last day of the study period
  • Students taking a 16 month co-op must submit two completed CIFS applications:
    • One form for May to August
    • Another form for September to August

What is a Confirmation of Enrolment – Schedule 2?

  • The Schedule 2 form maintains interest-free status for students who previously received student loans from a province outside of Ontario
  • The Schedule 2 is also used to maintain interest-free status on previous part-time student loans including OSAP

Who is eligible for a Schedule 2?

Eligible full-time students have:

  • Been taking courses towards an eligible diploma or degree
  • Enrolled in at least a minimum full-time course load

Eligible part-time students have:

  • Previously received part-time loans from OSAP or another province
  • Been taking courses towards an eligible diploma or degree

How do I apply for a Schedule 2?

Who can maintain interest-free status?

  • Students who are beginning a co-op work term.
  • You are currently enrolled in at least a minimum full-time course load*
  • You have previous full-time student loans
  • You do not have to start repaying your previous loan(s) during your current study period
  • The Government of Canada and/or the Province of Ontario will pay the interest on your loan(s)
  • Your Canada Student Loans will begin to accrue interest once you complete full-time studies
  • Your Ontario Student Loans will collect interest on the first day of the 7th month after completing full-time studies
  • You will be required to start repaying your loans 7 months after completing full-time studies

Note: Students with an OSAP loan who are enrolled in a program, or who are continuing full-time studies with a new OSAP loan, will automatically maintain interest-free status.

Providing consent to release information to others

If you want someone to have access to information about your OSAP application, you need to give permission first. This is called granting consent.

To grant consent
Fill out the Release of Information to Others section in your profile. You can do this online or on your paper application.

Your consent gives the person access to all information in your OSAP file for a five-year period.

To update or delete consent
Log into your OSAP account. Update or delete your consent through “Release of Information to Others” in your profile.

If your situation changes
If your student, personal and/or financial status changes, you'll need to contact Financial Assistance to help update your OSAP file.

They will tell you what impact the change could have on your OSAP funding. For example, your application could be held or reassessed.

If you are overpaid, you may be responsible for paying this money back before you qualify for future funds.