quick question about OSAP?

[persiangts]

I am going into my second year (but im a little older 22)
I own a house (with my wife)
and a car

is it possible for me to get OSAP?
and how can i do it?


thanx in advance

Oh and last year i did not have a "big" t4

[FastFokker]

Anything's possible, apply and see what happens.

http://www.google.ca/search?hl=en&q=osap&btnG=Google+Search&meta=cr%3DcountryCA

[how]

yea, you can get it, as long as u can show that u need assistance i think u'll be able to get it

[Vickel]

apply for it and see
worst they can do is reject your request

[jayslay]

i doubt you'd get osap, probably a couple hundred

b/c you have soo much assets, unless your parents income is lower and you have siblings

[bleeet]

i doubt you'd get osap, probably a couple hundred

b/c you have soo much assets, unless your parents income is lower and you have siblings
since he owns a house and has a wife i don't thik they would even look at his parents income

[Shaner]

since he owns a house and has a wife i don't thik they would even look at his parents income

Yes they will.
Unless he's 25 or been removed from school for 5 years, they will look at the parents income.
It's a dumb system!

[princesss]

no harm in applying.. although it might be a lil late now to apply for this coming sept.

[cwb27]

OSAP screws you.... some will argue otherwise, but if you're able to do it, get a Student Line of Credit or Student Loan.

[Flyer]

Yes they will.
Unless he's 25 or been removed from school for 5 years, they will look at the parents income.
It's a dumb system!
Not if you aply as an independent...I applied just a few minutes ago...was not asked for parents income. Same deal last year...

I think the system changed or something...

[cwb27]

OSAP went thru a few changes, one of which is that they now charges interest but as a result something else changed.... this is all I know. Yeah, I know, I suck for info...

[PrimoTurbo]

If you are living alone then they won't look at parents income.

If your family income is more then 70 grand you probally won't get OSAP, but I'm not 100% sure on that.

[KennethToronto]

no harm in applying.. although it might be a lil late now to apply for this coming sept.


applying now is fine.

[persiangts]

Thanx guys

do they check my bank account?
because ive got 20grand in one (from my wedding)
but thats our "mortgage account" so we dont have to worry about that when we go to school


and like a grand in the other (every day banking)

[daisyville]

What do they assess for OSAP?

I have a daughter who may be going to post-secondary next year. She resides with her father, who will not have a mortgage at the time, and will be residing with his (second) wife. They both work.

I will still have a mortgage, be living alone (maybe) and also working.

What will OSAP look at?

[Shaner]

What do they assess for OSAP?

I have a daughter who may be going to post-secondary next year. She resides with her father, who will not have a mortgage at the time, and will be residing with his (second) wife. They both work.

I will still have a mortgage, be living alone (maybe) and also working.

What will OSAP look at?

OSAP will want the combined income of her father and his new wife (it will be assumed that since her father is remarried, that she is being supported by both him and his wife) as well as your income.

She might be in trouble in terms of getting funding.

[sshe11]

I got declined for OSAP for my final year 'cuz I made money in co-op, dad bought me a car which is under my name (so its an asset) .... not that I needed it but its always nice to have some extra money just in case ...

[daisyville]

OSAP will want the combined income of her father and his new wife (it will be assumed that since her father is remarried, that she is being supported by both him and his wife) as well as your income.

She might be in trouble in terms of getting funding.

Thanks Shaner. I'm still paying my daughter's father child support (don't ask). Does that mean that my income would also be considered?

I think she's roasted, is the bottom line.

[tigger03]

I got declined for OSAP for my final year 'cuz I made money in co-op, dad bought me a car which is under my name (so its an asset) .... not that I needed it but its always nice to have some extra money just in case ...

yeah .. my car is in my dad's name ... a lot of ppl have been burned by keeping a car in their name. OSAP's policy: sell your car and use that money to pay for school :twisted:

[gq_fuzion]

osap denied me too cause of my household income

[pcpro]

im pretty sure you cud get it...cuz when you fill it out they factor in dependants (your wife), assets and so forth so basically they try to factor in your expenses and ya once as you fill it out they give u an estimate...its worth a shot...good luck with that.

[PrimoTurbo]

Thanx guys

do they check my bank account?
because ive got 20grand in one (from my wedding)
but thats our "mortgage account" so we dont have to worry about that when we go to school


and like a grand in the other (every day banking)

No I don't think they can check your bank account, they check your income from tax forms. The application asks you to fill out specific lines from your tax return and you have to agree that they can verify the information and such. I don't really see how they would be able to check bank account/savings account. Plus if you are saving money for whatever it shouldn't really be their business, as long as you don't have a big yearly income.

OSAP is awesome, because you will never find anywhere else where you can get an interest free loan until you finish school + 6 months after to find work. Does anyone know the percent afterwards? Plus if you don’t have the income government isn’t going to destroy you like collection agencies they will figure something out or even I know in the past they forgot part of the loan (this is unlikely to occur again however).

[emir]

No I don't think they can check your bank account, they check your income from tax forms. The application asks you to fill out specific lines from your tax return and you have to agree that they can verify the information and such. I don't really see how they would be able to check bank account/savings account. Plus if you are saving money for whatever it shouldn't really be their business, as long as you don't have a big yearly income.

OSAP is awesome, because you will never find anywhere else where you can get an interest free loan until you finish school + 6 months after to find work. Does anyone know the percent afterwards? Plus if you don’t have the income government isn’t going to destroy you like collection agencies they will figure something out or even I know in the past they forgot part of the loan (this is unlikely to occur again however).

What if you...say work in the summer at an "under-the-table" job? They say they'll check with the CRA and compare it to what you filled out on OSAP. So when you have to confirm what you made in the summer, what would you fill out?

[JS2K6]

OSAP is awesome, because you will never find anywhere else where you can get an interest free loan until you finish school + 6 months after to find work. Does anyone know the percent afterwards? Plus if you don’t have the income government isn’t going to destroy you like collection agencies they will figure something out or even I know in the past they forgot part of the loan (this is unlikely to occur again however).

Interest (prime + 2.5%) starts at the end of the study period when you graduate. You just don't have to start paying back your loan until 6 months after the study period ends.

[ProfessorChaos]

What if you...say work in the summer at an "under-the-table" job? They say they'll check with the CRA and compare it to what you filled out on OSAP. So when you have to confirm what you made in the summer, what would you fill out?

Under most circumstances....cash under-the-table jobs don't count as a real job(because there is no paper trail). So technically, the government doesn't know you worked there(unless you're stupid enough to file it for taxes). So if you worked a cash job in the summer...it's the same as you not working at all(just means...dont declare that you made the money...thats all). So your income would be $0.

It's like the same for me..when I applied my income is $0 even though I cut lawns and built computers for people last year and made quite a bit of cash.

[keitaro]

Is there a way to roughly know how much OSAP you will get?

[greg123]

Is there a way to roughly know how much OSAP you will get?

when you fill out the form and before you sumbit theres a estimate

[greg123]

apply as independent is the way to go, both my parents make 6 figures, and i got $11900 for Sept 06-may 07, but after i entered my summer income of $12000, my osap amount went down to $9200