The purpose of the Canada-Ontario Integrated Student Loan (COISL) is to provide student loans to eligible Ontario students to help them pay for their education-related costs such as tuition, books, mandatory fees, living costs and transportation.
This is a single integrated student loan, where a portion is funded by the Government of Ontario and a portion by the Government of Canada. The loan is negotiated through the National Student Loans Service Centre (NSLSC).
Amount of Aid
The maximum amount of the Canada portion that you may receive is $210 for each week of your study period.
The maximum amount of the Ontario portion that you may receive for each week of your study period is:
- $150 per week for a single student with no dependents
- $350 per week for a student who is married or who is a sole-support parent.
Details are available on How Does OSAP Work? and How Much Aid Can You Get?
Who Can Get This Aid
To be considered for COISL, you must meet all the eligibility requirements related to citizenship, residency, and academic progress. In addition, you must be enrolled or planning to enrol in an approved program at an approved postsecondary institution. A complete list of all eligibility requirements is available for review.
How to Apply
Use the 2012-2013 OSAP Application for Full-Time Students. This application is available online or in paper format. Applications are available April. For complete details, see Filling out your Application.
Documents You Need to Provide
You are required to sign and submit a declaration and signature page indicating that you have read and understood your rights and obligations. If you apply online, you will be able to print a copy from the website or request that the ministry mail it to you.
In addition, you will be required to provide documents to support the information that you provide on your application. For example, if you are married, you will be required to provide a copy of your marriage certificate. When you complete an online application, the documentation that you must provide will be listed. It is important to note that some documents are required before OSAP can calculate your aid and others are required before your aid can be released. You will be informed as to which rules apply. For details on how and when to provide the documents, go to Submitting your Application.
Information Your School Needs to Provide
Your school must provide information about your study period, including the start and end dates of your program as well as program costs. For details on how this information is gathered, go to Review your Application.
What Happens After You Apply
After you apply, and before OSAP can calculate the amount of your aid, your application is processed in several stages to:
- Ensure all information and documents have been provided.
- Determine if you meet all the eligibility requirements.
- Verify the following information:
- Your Social Insurance Number and personal identification information (name, date of birth, and gender) is verified with the Social Insurance Registry.
- Your driver’s licence and vehicle information is verified with the Ministry of Transportation.
- Your credit history is verified with a credit reporting agency (Equifax).
- Your income (and that of your spouse or parent(s), if applicable) is verified with Canada Revenue Agency.
For complete details on the verification process, go to Review your Application.
How to Check the Status of Your Application and the Amount of Your Aid
Information about the status of your application is available on this website. Just log in to find the latest information. Remember to provide us with your e-mail address, and we will send you a reminder whenever there is a change to your OSAP file. OSAP will also send you paper notification if you request it on your online application.
For complete details on checking the status of your application, go to Review your Application.
What Needs To Be Done Before You Can Get Your Aid
Before OSAP can release any aid to you, all documents that are required from you must be received, reviewed and approved. If your aid was calculated prior to receiving any of the documents, a review of the document may result in your aid being recalculated.
How and When You Get Your Aid
The way that you get your aid is changing for 2012-2013. For complete details go to Getting your Aid.
How A Change To Your Situation Affects Your Aid
Any change to your family, financial, and/or study period status could result in your application being reassessed to ensure that you are still eligible and/or to recalculate the amount of your aid.
After Your School Term Ends
If you are planning to return to school, don’t forget you have to apply for OSAP for each academic year. If you receive OSAP aid again, your previous loans will automatically go into interest-free status so you do not have to repay them. If you do not receive OSAP aid, then you will have to ensure your previous loans are put into interest-free status.
Help Available if You Can’t Repay Your Loans
After you graduate or stop being a full time student, you must repay your COISLs. During repayment, you must consider who you repay, when repayment is required and how repayments are made. You may also wish to investigate repayment options such as interest relief, debt reduction and/or revision of terms. Go to How Do You Repay Your Loan for complete details.