Ontario Student Assistance Program (OSAP)
Continuation of Interest-Free Status (CIFS)
Continuation of Interest-Free Status (CIFS) allows students who have previously received OSAP loans to temporarily stop the accumulation of interest on their loans while they return to full-time studies. This means that while you are enrolled in a qualifying full-time program, you do not need to make loan payments, and no interest will accrue on both the Canada Student Loan and Ontario Student Loan portions of your OSAP funding.
Why is CIFS Important?
CIFS helps students who are returning to school by ensuring they do not accumulate interest on their student loans during their studies. It allows you to focus on your education without worrying about repayment or interest increases while you’re still a full-time student.
Even though your loans are in interest-free status, you are still free to make payments on your OSAP loan during this period if you wish, which can help reduce the amount you owe after graduation.
