Updating Your Files

Have your personal or financial circumstances changed while you are in school? Has your reported income changed? If so, this may affect the OSAP assistance you are entitled to. It is important that you report any changes in your personal or financial circumstances immediately by contacting your financial aid office. If you require an e-mail/address, or password change, you can log in to update your file on-line.

What kinds of changes should be reported?

Any change that might affect your eligibility should be reported. For example:

• Changes to your income, and your parents’ or spouse’s income if applicable
• Withdrawal from school or stopping attendance
• Withdrawal from courses that result in less than 60% of a full course load, which is considered part-time
• If you are a student with a permanent disability, withdrawal from courses that result in less than 40% of a full course load, which is considered part-time
• Changes to your marital status, which will require that your husband or wife’s information be reviewed to determine whether your financial status has changed.

Why is this reporting important?

These changes could affect your current funding eligibility, or your repayment schedule. For example:

• Withdrawing from school as a full-time student may mean that you need to begin repaying your loan sooner than expected.
• Withdrawal will likely mean that you are no longer eligible for an Ontario Student Opportunity Grant.
• Reducing your course load may mean that you are no longer eligible for the funding you received, and could result in an overpayment which needs to be corrected.
• Getting married may mean that your financial situation has changed, which will affect your eligibility.
• Income is verified by OSAP.
• Failure to report an income change during your current study period could also affect your eligibility for future funding.