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PRESENTED BY

SHERIDAN COLLEGE

OSAP &

FINANCIAL AID

INFORMATION

SESSION

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OSAP

    • What is OSAP?
    • Who is eligible?
    • How to apply for OSAP
    • Other resources
    • Awards
    • Costs To Consider
    • How to Budget
    • Things to Remember

ONTARIO.CA/OSAP

AGENDA

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OSAP

    • Funded by Federal and Provincial Governments

ONTARIO.CA/OSAP

WHAT IS OSAP?

    • Needs-based assistance: funding eligibility is determined based on individual student financial need
    • Income supplement program. Not designed/guaranteed to cover all costs of your education
    • Students must apply for OSAP every academic year

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OSAP

Money you don't have to

pay back.

Course load with 60%

or more, or 40% or more

with a permanent disability.

Course load with

20-59%.

GRANTS

FULL-TIME

ONTARIO.CA/OSAP

ONTARIO STUDENT ASSISTANCE PROGRAM

Money you need to repay once

you've completed your studies.

LOANS

PART-TIME

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OSAP

    • A Canadian citizen, permanent resident, or protected person

ONTARIO.CA/OSAP

WHO IS ELIGIBLE?

    • An Ontario resident
    • Attending or entering an OSAP-approved program and school
    • Enrolled in or entering a certificate, degree or diploma program that is a minimum of 12 weeks in length

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OSAP

APPLY ONLINE AT ONTARIO.CA/OSAP

ONTARIO.CA/OSAP

HOW TO APPLY

If you are applying for the first time, you will need to REGISTER as a new user with your SIN number

** Remember to "link" your OSAP application if you have applied for admission through OCAS/OUAC

​

You’ll need:

    • Information about your school and program
    • Your tax information (if applicable)
    • Your parents’ SIN
    • Your parents’ tax information

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OSAP

    • When printing, you will need to enter a generated password

ONTARIO.CA/OSAP

PRINT AND SIGN

    • Documents must be legible when printed
    • Student and Parent/Legal Guardian Signature Pages
    • Make sure all areas are signed
    • Can only be signed using black and blue ink

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OSAP

    • To speed up processing...

ONTARIO.CA/OSAP

UPLOAD DOCUMENTS

    • Upload all signature pages onto your OSAP account
    • Scan and upload all supporting documentation
    • Regularly monitor status on your OSAP account

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OSAP

    • Receive an email within 3-5 business days with a link to the National Student Loan Service Centre (NSLSC) website

ONTARIO.CA/OSAP

MSFAA�Master Student Financial Assistance Agreement

    • To register online with NSLSC you will need:
  • Social Insurance Number (SIN)
  • Date of birth
  • MSFAA number: 10-digit number provided on your OSAP “Required documents” page
  • Bank account information

​

    • Complete the online MSFAA and accept the terms and conditions

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OSAP

ONTARIO.CA/OSAP

FUNDING CALCULATION

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OSAP

ONTARIO.CA/OSAP

OSAP AID

ESTIMATOR

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OSAP

ONTARIO.CA/OSAP

OSAP AID

ESTIMATOR

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SCAN ME

OSAP APPLICATION WALK THROUGH

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PARTIES INVOLVED

You

Financial Aid

NSLSC

The Ministry (MTCU)

Issues OSAP Funding

Assists with OSAP and financial aid

OSAP Policy

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OTHER SOURCES

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AWARDS

SCHOLARSHIPS

BURSARIES

ACADEMIC AWARDS

Awarded based on criteria that may include academic achievement, community involvement, demonstrated leadership skills and financial need.

Awarded based primarily on financial need although academic achievement and community involvement may be considered.

Awarded to students demonstrating academic achievement. These awards are nominated by faculty members.

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COSTS TO CONSIDER

Program

Fees

Books

& Supplies

Residence

& Off-Campus Housing

Parking

& Transportation

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HOW TO BUDGET

Determine where your money goes

  • Track your spending over a period of time (use budgeting apps and tools)

List your income and expenses

  • Know your resources and responsibilities

Review your results 

  • Do you have a surplus or shortfall?

Revise your budget as needed

  • Reflect on your needs vs. wants
  • Seek ways to lower costs

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THINGS TO REMEMBER:

Create a set budget for the school year.

Understand your income and expenses, and needs vs wants as a student.

    • Apply early (processing time 4-6 weeks)
    • Funds may come in 2 installments
    • Funds are released by NSLSC
    • Funds issued in 60/40 installment split

BUDGET

OSAP

BURSARY

Check with your Financial Aid Office to confirm when it is the best time to apply for bursaries (take note of deadlines)

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QUESTIONS

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THANK YOU