Finances, OSAP and Payment
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Canada and Ontario are implementing a lifetime loan agreement that will cover you for all the time you are in full-time postsecondary studies; this lifetime loan agreement is called the “Master Student Financial Assistance Agreement”, or “MSFAA”.
You can print out your lifetime loan agreement (MSFAA) anytime after you submit your online OSAP application. You must take your MSFAA along with your identification to any participating Canada Post outlet in your area. This only needs to be done ONCE, and will be in place throughout your time as a full-time postsecondary student.
Once your OSAP application is complete and all supporting documentation has been submitted your OSAP entitlement will be calculated. You will be notified via email once your OSAP has been calculated. You can check your entitlement and the status of your OSAP online at www.osap.gov.on.ca.
You can check the status of your OSAP application at anytime by logging onto your OSAP account. For your personalized list of required documents, log on to your and go to the “View App Details” section.
OSAP funding can’t be released earlier than the first day of school. Before any funding can be disbursed to you the following steps must be completed:
- Submit your MSFAA to a designated Canada Post Outlet
- Submit all of your OSAP supporting documents to your Financial Aid Office
- Your school confirms your enrolment directly with OSAP (prior to each disbursement)
- You confirm your income online (prior to second semester disbursement)
Your OSAP funding will be electronically disbursed to your bank account. It is important that you keep your bank account Information up to date with the National Student Loans Service Centre (NSLSC) to ensure there is no delay in receiving your money. You should make sure your address and contact information is up to date with OSAP in case there is a problem with the direct deposit and your funds are issued by cheque.
Yes, there are a variety of bursaries, scholarships and awards available to students throughout the year.
Find information on awards, applicable deadlines, and application processes on MyCampus under the DC student tab.
Visit the Student Services building to book an appointment with a Financial Aid officer. You do not have to be receiving OSAP to qualify for emergency help.
Student Services building
Hours of operation: Monday to Friday, 8 a.m. to 4:30 p.m.
Students can reset their OAN number themselves through an online function on the OSAP web site by clicking here. If that fails, they can also reset by going into any college or university Financial Aid office in Ontario and showing appropriate ID. This service is available at the Whitby campus on Wednesdays only.
OSAP does have an appeal process. Visit the Student Services building and book an appointment with a representative from Financial Aid and Awards.
Appeals are individually assessed after you receive your final assessment; your OSAP funding may be re-evaluated based on your personal situation.
OSAP assumes that you will work full-time over the summer months. They will automatically add in an expected pre-study income contribution from this period.
Recommendation: it is suggested that you keep track of your active job search during the summer. You may be able to appeal the expected income contribution if you are unable to successfully find a summer job. In addition, if there are extenuating circumstances that prevent you from working full-time, you may also have grounds for an appeal on the expected contribution.
Parents more than 40 km from Durham College
If you are living away from home during the school year and your family home is more than 40 kilometres from your post-secondary institution, OSAP will assess your application using a living away from home allowance including food and shelter.
Parents within 40 km of Durham College
Your assessment will be based on an at home living allowance, which does not include food and shelter. There are appeals available for students with extenuating circumstances who must live outside the family home.
Vehicle information must be included with your OSAP application.
OSAP uses the "blue book"; value to determine the value of your car. You are permitted to own a vehicle valued at up to $5,000 without it affecting your OSAP funding. Any value above that will be considered an asset in your OSAP assessment. Certain situations allow for an appeal of this amount.