Overpayment

If your application is reassessed and it is determined that you have received more funding than you are eligible for, you are considered to have an overpayment. The amount of that overpayment may be deducted from future funding.

• If you have a loan overpayment, the amount of that overpayment may be deducted from future loans. For example, if a reassessment is completed before the second portion of your loan has been released, the remaining loan will be reduced by the amount of the overpayment. If the reassessment is completed after you have received all of your loan funding and you are required to repay the overpayment in order to be considered for further funding. In subsequent years, you will be sent a notice outlining the reason(s) for the overpayment and the steps that you must take to repay the overpayment. In some cases, you may not be eligible for further financial assistance, including the Ontario Student Opportunity Grant.
• If you have a bursary or a grant overpayment, you may be required to repay the overpayment. If you do not repay the total amount of that overpayment or do not make repayment arrangements, you may not be eligible for further funding.