When You Will Get Your Money

The total amount of Canada-Ontario Integrated Student Loan and/or grant funding that you are eligible to receive for your study period is called your "current entitlement" and is listed on the Funding Summary chart (via Check Status on the OSAP website) and indicated on the Notice of Assessment that the ministry mails to you.

Generally you will receive a portion of your current entitlement at the beginning of your study period and the remainder halfway through your study period. In some situations, students attending a postsecondary institution outside Canada, will be issued the total amount of loan/grant funding indicated on the loan/grant certificate at the beginning of their study period.

It is important to note that your loan/grant certificate(s) will indicate the Canada portion and/or the Ontario portion of your Canada-Ontario Integrated Student Loan as well as the amount of Canada Student Grant to which you are entitled. After you have negotiated your loan/grant certificate with the National Student Loans Service Centre (NSLSC), the NSLSC will deposit your funding into your bank account. Generally the funds will be deposited in your bank account within 1 week of the date the loan/grant certificate is received at the NSLSC, or within one week of the disbursement date on your loan/grant certificate, whichever is later.

It is important to note that the Canada and Ontario portions of the loan as well as the Canada Student Grants may be deposited at different times, so you should monitor your bank account regularly.

If you do not arrange to have your loan/grant funds electronically deposited, a cheque(s) will be mailed directly to you within two weeks of the date the loan/grant certificate is received at the NSLSC, or within two weeks of the disbursement date on your loan/grant certificate, whichever is later.

If you are entitled to an Ontario Access Grant, this assistance will be issued to you at the start of your second term in the form of a cheque available for pick-up at your financial aid office. You can pick up the cheque at the same time that you pick up your second loan/grant certificate at the start of your second term.

OSAP assistance will not be released after your study period has ended.