Repaying your OSAP
Your OSAP loans may begin collecting interest once you are no longer enrolled in full-time or part-time studies. This could mean you’ve graduated or you’ve dropped from full time to part time, or withdrawn from school (even temporarily).
You will receive a notice from the government to start repaying your loans 6 months after your last day of full-time studies.
If you are continuing as a full-time student in an OSAP-eligible program but no longer applying for OSAP, apply for a Continuation of Interest-Free Status (CIFS).
How to apply for CIFS
Medical and parental leave
The federal government has introduced a new leave program available to students who need to take a break from their studies for:
- medical reasons
- mental health reasons
- after welcoming a child
Interest will not be added to the federal portion of your loan during your leave. You do not have to make payments back towards the federal portion of your loan during your leave. Students can be on leave for up to 6 months. At the end of this period, students can apply to extend their leave for 6 more months if needed.
This program only applies to the provincial portion of your loan ONLY IF if you have student aid through one of the following provinces: New Brunswick, Newfoundland and Labrador, Saskatchewan, or British Columbia. Ontario does not have a similar program and it is therefore not available for the provincial portion of your OSAP loan.
Who am I paying back?
The National Student Loans Service Centre (NSLSC) handles repayment of OSAP loans and loans from all other government student financial aid programs.
Within 6 months of your last full-time study date, you’ll get a loan consolidation package from the National Student Loans Service Centre with information about:
- Your total number of payments
- The date of your first payment
- The interest rates used to calculate your payment
Sign in to your account with NSLSC to:
- Check your student loans status and balances
- Update your contact information
- Apply for repayment assistance
- Request a change to the terms of your repayment
Contact NSLSC for questions about repaying your loans:
National Student Loans Service Centre
2 Robert Speck Parkway
PO BOX 4030
Mississauga, Ontario L5A 4M4
Telephone: 1-888-815-4514
Fax: 1-888-815-4657
Call Centre Hours: Monday to Friday, 8 a.m. to 8 p.m.
Live chat: https://protege-secure.csnpe-nslsc.canada.ca/en/public/live-chat
Help with repayment
OSAP website
The OSAP website offers a step-by-step guide to repaying your loans.
Orientation and Repayment seminars
The National Student Loans Service Centre offers online NSLSC Orientation and OSAP Repayment Seminars. You can sign in using a computer, tablet, Android or iPhone device.
Repayment assistance
The National Student Loans Service Centre’s Repayment Assistance Program (RAP) is designed to help you manage your student debt.
Find more details on the NSLSC website to see if you qualify:
Are you applying to medical school, law school or another professional program? You may be asked to verify the scholarship you won during your time at McMaster.
Verifying your scholarships
If your application asks you for a verifier for any McMaster-based scholarships you’ve won during your time as an undergrad, you can list:
- Nancy Solano, Awards Officer
Aid & Awards
McMaster University
1280 Main St. W.
Gilmour Hall, Room 120
Hamilton, ON L8S 4L8
(905) 525-9140 ext 23145
solanon@mcmaster.ca
The following general information may also be useful to your application.
Entrance scholarships
All applicants to McMaster University with an admission average of 80% or higher are eligible for Entrance Scholarships. The number of applicants is unavailable but admission statistics may be included as part of your application.
In-course scholarships
To determine your competition for any awards you won during your undergrad, you can refer to the Undergraduate Calendar and the online University statistics for the year in which you won the award.
- Read the specific award descriptions and terms in the Undergraduate Calendar. Scholarship decisions are awarded based on these terms. Past copies of calendars are available at Mills Memorial Library.
- The Undergraduate Calendar outlines the criteria and competition (typically available) for an award.
- The University Statistics will provide you with the number of students in a level, faculty, program or course. Search for statistics according to the criteria for a specific award.
