OSAP Question

My grandfather wants to transfer $3000+ American Dollars into my account for my sisters wedding

my question is that will this affect how much i get from OSAP or not.
is a part time job also going to afffect the amount even though it is very low <$300 per month

btw i will be applying next year

When you apply for osap, you need to report any income you have earned during the 16 weeks before school starts and how much you expect to earn during the school year, as well as how much $ is in your bank account.

Yeah I don't really get why the money is being transferred into your account.. but you may be better off to have that money go somewhere else or be transferred in a manner that is less noticeable.

Most small things won't affect OSAP, but it must be reported and depending on your entire situation, OSAP *MAY* decrease the amount they give you.

Get your grandfather to create a bankdraft for the USD$3000. Some bank will not required a holding period for bankdraft, then you can take cash out when you deposit the bankdraft. The whole transaction will now appear in your account. You do not have to report this as your income for OSAP.

Yes, your income will lower your the amount that you can borrow from OSAP.

i think it will effect the amount that you got.. becuz one of my friend got screwed over when having too much cash in his bank account..

Originally Posted by coolpc

i think it will effect the amount that you got.. becuz one of my friend got screwed over when having too much cash in his bank account..

It all depends on your income and your parents income. I don't think you will get screwed for that. My wife had her mom transfer about 6000 before she applied for OSAP. She got her entitled osap without any penalities. Although 6000 was moved out of the account as well to pay the bills/credit line etc.