En cash benefits from Canadian government By: Hi folks, article.php?id=13 |
OSAP is a single application to Federal Government and Provincial Government for assisting in financial aid for Study purpose (Full time). http://osap.gov.on.ca/eng/eng_osap_main.html is the link for website. They have approved colleges and programs for which OSAP is available. This single application qualifies you for all other bursaries and financial aids you can qualify based on family income. The amount that you do not payback is Child Assistance (financial aid provided by Provincial govt.) Millinium Bursarie funded from Queen Elizabeth fund or any other scholorship you may qualify. The part that is to be payed back is actual OSAP amount recieved from Federal Govt. Intereston principal amount is applicable from program completion date i.e last day of program, interest is applicable on the principal amount (OSAP portion). Your first payment is expected on first day of 7th month from the last day of program, althought interest is applicable from last day of program. You have an option either to pay interest for 6 months plus first installment or get interest amount added to principal amount and pay first installment. Regarding not paying OSAP, I doubt it can be achieved. You are pardoned from paying back on 2 occassions, one if you are enrolled in another program for continuing education, second you are not financially able to pay the amount, they have provision to pardon you only 2 time in life span. Now, if you take a pardon from paying loan on grounds of lack of funds. They will recover whatever they can from income tax refunds.
About most discussed 60:40 ratio, it works in this manner
For example if you get approved for $10,000 amount for program.
Provincial govt. & Queen Elizabeth funds contributes approx. $3,500 (as child aid or bursaries) This is not repayable amount
Federal govt. contributes $6,500 This is repayable amount.
Out of $10,000 you are actually repaying $6,500.
IMO, utilise this facility to improve upon your qualification rather than enjoying life on this amount. I don't think anyone can cheat on OSAP loans.
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Check for pervert's database here http://www.perverted-justice.com
Hi Paresh,
I read your article and like most. I like to contact you. I want some more details regarding OSAP. So pls. give me your contact information or mail me
the best thing i taken from ur article is presence of mind and kar lo duniya mutthi me.
Thanks and desperately looking for your reply.
Regards
lokesh
Hi Paresh,
I read your article and like most. I like to contact you. I want some more details regarding OSAP. So pls. give me your contact information or mail me
the best thing i taken from ur article is presence of mind and kar lo duniya mutthi me.
Thanks and desperately looking for your reply.
Regards
lokesh
Hi Paresh..
In fact i would suggest you to write the details of OSAP on the board so that everyone can be benefitted . Moreover you dont have to PM individually .. If you agree please post it on board OR PM me ..
Cheers
Ashwani Goel
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Growing Old Is Mandatory ..Growing UP is Optional
Hi Paresh,
I am interested in pursuing my education further, could you please email me or post some detailed information on the site.
Thanks,
Mehra
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Mehra
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