How the Ontario Student Opportunity Grant (OSOG) Works
This grant is provided to help you reduce your annual loan debt by limiting your maximum repayable debt to $7,500 for a two-term academic year or $11,250 for a three-term academic year. You don’t get it directly; instead it’s used to pay down the Ontario portion of your Canada-Ontario Integrated Student Loan.
How do I apply?
You don’t apply for OSOG because you’re automatically considered for this grant when you fill out an OSAP Application for Full-time Students.
How is the grant calculated?
You’ll get an estimate when your OSAP Application for Full-Time Students is assessed. The estimate is based on the information that you provided on that application and is generally available starting in June.
The actual amount of your grant will be calculated after we have verified all income with Canada Revenue Agency (CRA). We verify your income and that of your spouse or parent(s) if their information was entered on your application. For the 16-17 academic year, income is verified for the 2015, 2016 and/or 2017 income year depending upon your study period and whose income is provided.
If there are different income amounts on file at CRA, we’ll use those amounts to calculate your grant – which means it may be different from your estimate.
What happens if we can’t verify income?
There are several reasons why we aren’t able to verify income with CRA:
· Income tax return was not filed for the years we are trying to verify.
· Income tax return was filed under a name different from that entered on your OSAP application.
· Your spouse or parent(s) didn’t provide a permanent Social Insurance Number (SIN) on your OSAP application.
If any of these reasons apply to you, you’ll be provided with instructions on what documentation is required (e.g., CRA Notice of Assessment).
Deadline for submitting income tax returns:
To be considered for OSOG, income tax returns must be filed within 6 years of the end of your academic year. For example, if you applied for OSAP in 16-17, then you must file your income tax return by July 31, 2023. If you’ve filed late, contact the financial aid office at your school to ensure that you are considered for OSOG.
When do I get the grant?
The grant doesn’t go to you – it is paid directly to the National Student Loans Service Centre (NSLSC). Payment is made after all income has been verified. Because income is verified for 2015, 2016 and/or 2017, it could take until the summer of 2018 for the grant to be calculated and released.
How do I know if the grant has been received at NSLCS?
Check your online account at the NSLSC (https://csnpe-nslsc.cibletudes-canlearn.ca). The grant payment will be identified as “government payment”. You can also call 1-888-815-4514.
Does the grant change my loan repayment?
The grant will reduce the amount of Canada-Ontario Integrated Student Loan that you have to repay. For most students it doesn’t pay off the total loan nor does it change the monthly loan payments. If you want to change your monthly payments or repayment period, contact the NSLSC to request a “revision of repayment terms”.