OSAP + Line of Credit

[kajh15]

I'm going into my first year of medical school and financing my education myself. Given that I haven't been out of high school for 6 years by the time I start school and I haven't worked 24 consecutive months, I am considered a dependent on OSAP. I am concerned that when my parent's income is considered, I won't receive much in the way of bursaries. If I choose to not provide parental information, I won't be considered for Ontario portion of the Canada-Ontario Integrated Student Loan, Ontario grant, or Student Access Guarantee funding. I've never applied for OSAP and I'm not sure which option is better. Does anyone have experience with this? Any advice on how to finance school with LOC and OSAP and is this the best option in the long run?

[James Nystead]

1 hour ago, kajh15 said:

I'm going into my first year of medical school and financing my education myself. Given that I haven't been out of high school for 6 years by the time I start school and I haven't worked 24 consecutive months, I am considered a dependent on OSAP. I am concerned that when my parent's income is considered, I won't receive much in the way of bursaries. If I choose to not provide parental information, I won't be considered for Ontario portion of the Canada-Ontario Integrated Student Loan, Ontario grant, or Student Access Guarantee funding. I've never applied for OSAP and I'm not sure which option is better. Does anyone have experience with this? Any advice on how to finance school with LOC and OSAP and is this the best option in the long run?

I'm not familiar with not providing parental information portion so Im not sure which option would give you more funds although the LOC will definitely cover whatever OSAP doesnt

Most med students pay off tuition with a combo of OSAP LOC and personal/parental contributions

[bruh]

Have you used this estimator to see how much you will possibly get?

https://osap.gov.on.ca/AidEstimator2021Web/enterapp/enter.xhtml

 

It’s pretty accurate. If you’re not getting a lot, you should still apply. I know UofT will not give any grants to med students if they don’t have OSAP eligibility, so it might be the case for other schools too.

 

Also, you will be 6 years out of high school as a 2nd or 3rd year student and you will be able to get more funding then.