Ontario Student Assistance Program (OSAP)
Maintaining Interest Free Status on Your Loans
Who should complete a Continuation of Interest Free Status Form (Schedule: 2)
- Students who are beginning a Co-op work term
- Students who have previous OSAP loans and who plan to continue their full-time studies without receiving OSAP
Keeping your "interest-free status" means that you do not have to repay the loan while you are in school, and that the Government of Canada and/or the Province of Ontario will continue to pay the interest on your loan.
If you do not keep your loans in interest-free status, you will be required to start repaying your loan(s) within six months of the end of your last study period.
You must provide the Financial Aid Office at your post-secondary institution with a completed Continuation of Interest-Free Status / Confirmation of Enrolment (Schedule 2) as soon as you begin full-time studies or your co-op placement.
The information will then be electronically forwarded to your lender and/or the National Student Loan Service Centre (NSLSC).
Should you require assistance or additional information about this process, please visit osap.gov.on.ca, or see your financial advisor.