Ontario Student Assistance Program (OSAP)

OSAP Repayment

Once you finish your studies or drop below a full-time course load, it’s time to begin repaying your OSAP loan. Understanding the repayment process is important to ensure that you can manage your loan responsibly and avoid any financial strain.

When Does OSAP Repayment Start?

You will not be required to start repaying your OSAP loans immediately after finishing your studies. Here’s how repayment works:

  1. Six-Month Grace Period: After you leave full-time studies (either by graduating or dropping to part-time status), you’ll have a six-month grace period before you need to start repaying your loan. During this period:

    • Interest will not accumulate on your Ontario portion of the loan.
    • Interest will accumulate on your Canada Student Loan portion.
  2. No Payments During the Grace Period: Although interest may accrue on your Canada Student Loan, you are not required to make any payments during this grace period. Repayment begins once the six months are over.