Repaying

Your Repayment Responsibilities

Accepting a loan is an important responsibility. Be sure you understand the terms and conditions of your loan and that you fulfill your obligations in order to keep your loan in good standing.

Student loans and overpayments must be repaid. Failing to repay your funding can have serious consequences, including the withholding of your income tax refund. You will also be ineligible to obtain additional OSAP funding until you obtain clearance.

Failing to repay has serious consequences. Among other things, it will be reported to a credit bureau. As a result, it may be significantly more difficult to obtain credit such as a car loan, mortgage or credit card. It may also result in the withholding of your income tax return.