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osap and tuition questions

canadamed111

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George Newbie

George

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So it sounds like we're supposed to spend out our savings and then apply for OSAP.

 

yeah, spend your savings, sell your car, empty your ®RSP's, sell your house... cuz those sorts of things are disposable, whereas the goverment only has a limited amount of money to spread around ;)

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MillerTime Newbie

MillerTime

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ok so queens sent me a ltter telling my the dollar value of an entrance bursary i'll be getting...should i put that value in my "income to be gained during the school year" part of the application...or should i put 0 and let them go fish?

 

I know on the Western bursary letter it said don't put it down on OSAP, that they will report it themselves, and I've also read somewhere else to not report it if the school says they will report it. If it doesn't say that, maybe just give queens a quick call to verify if they will report it or if you should.

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funkymonkey08 Newbie

funkymonkey08

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ok so queens sent me a ltter telling my the dollar value of an entrance bursary i'll be getting...should i put that value in my "income to be gained during the school year" part of the application...or should i put 0 and let them go fish?

 

 

when you look up the link to "income" it includes such things as bursaires and scholarships that you are aware of....so I think that because this is an entrace bursary and you know that you are getting it you are required to declare it as income whereas if you get the other bursaries that are offered during the academic year, those are based on the amount of OSAP that you already received so those wouldnt have the be declared...one way or the other I tried calculating my OSAP with and without the bursary and it made NO difference; I guess because in the grand scheme of things the bursary isnt really offsetting any costs....:rolleyes:

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Rock* Newbie

Rock*

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Do you guys know what the situation is in terms of OSAP money with having a car registered under your name? I'm currently registered along with my gf for a car that she paid for but I almost never drive it. Will I need to declare it or will they find out anyway?

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mbene085 Newbie

mbene085

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Do you guys know what the situation is in terms of OSAP money with having a car registered under your name? I'm currently registered along with my gf for a car that she paid for but I almost never drive it. Will I need to declare it or will they find out anyway?

 

The issue is ownership. If on paper the car is yours to sell, they consider it an asset you could use toward tuition and living expenses.

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e_is_hv Newbie

e_is_hv

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Hey Guys,

 

Great thread. I was really hoping for some help. I submitted my OSAP application a week ago, and at that time had a couple thousand in savings (present from two Uncle's for getting into Medicine). I realized after this significantly affected my OSAP (If I had $0 in savings would have got $3000 more).

 

I'd like to use this money to pay back some undergrad debts, and need to reapply to OSAP with the current $0 savings status. Does anyone know who to talk to about this, or whether its possible, or ANY suggestions?

 

Thanks very much,

e_is_hv

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MillerTime Newbie

MillerTime

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Hey Guys,

Great thread. I was really hoping for some help. I submitted my OSAP application a week ago, and at that time had a couple thousand in savings (present from two Uncle's for getting into Medicine). I realized after this significantly affected my OSAP (If I had $0 in savings would have got $3000 more).

 

I'd like to use this money to pay back some undergrad debts, and need to reapply to OSAP with the current $0 savings status. Does anyone know who to talk to about this, or whether its possible, or ANY suggestions?

 

Well on the OSAP application, it asks for assets as of the date 16 weeks prior to your start date (May 13ish probably). So as far as the instructions go, you should have indicated that date. You could give your financial aid people a call (at the university you're attending) and ask them what you can do to make a correction to your application. Another thing i just noticed yesterday is that OSAP states the following as part of the application:

 

"You must inform your financial aid office or the ministry, in writing, if there is a change to any of your assets from 16 weeks before the start of your study period until the end of your study period. In order to verify assets, the ministry may also contact any persons or bodies, including government bodies within and outside of Canada, that may have information about your assets."

 

So I haven't really figured this out exactly yet, but I can assume that it is to make sure that if people gain a significant amount of assets over the year that they will need to report them to OSAP and have their info updated. But I was thinking that it should work the same way if your assets decrease since that may 13th date, and that they should reassess your file based on it too. But I'm not sure what they would do if you wrote them telling them you now have no/less assets. I've asked the question on another forum to see if anyone knows and will let ya know if i get any good answers (link to that forum/thread - http://www.redflagdeals.com/forums/showthread.php?t=324149&page=79 )

 

(FYI, I haven't finished applying yet, however my assets on May 13th are very significantly different than they are now, so I'm trying to figure out a similar situation)

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Sheena815 Newbie

Sheena815

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Ok, I have a question:

 

For a scholarship I will be getting over the school year ( I was told by the school to report is as "income during the study period", do I also have to report it under the section for "income prior to the study period"? Because the third column of that section's time period is jan 1 2008- dec 2008- and I will be getting the scholarship money at the beginning of the study period- which is before dec 2008.

 

I'm just wondering cause I don't want to put it in twice, (say, for example, the value is 5000) and have them think that I will have 10 000 of "income" during the school year, when it is only the 5000. Obviously I know to put 5000 under the scholarships section for "income during the study period", I just don't know whether I also need to put the value under the "total income for jan1- dec 2008" of the "income prior to the study period" section.

 

anyone know? I couldn't find how to contact the osap people to ask this question.

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Meredith Newbie

Meredith

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Hi Sheena,

You should only put it in your "income during study period," not both. That's what I always did for undergrad awards, and I would think it is the same for medical school. You technically only get it once the study period begins, and you definitely don't want to double count!

Meredith

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MillerTime Newbie

MillerTime

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when are the OSAP apps due? anyone know?

 

There's no strict deadline anytime soon, you can apply during the first semester if you want, but I think they said they like to have 10 weeks to guarantee the funds will be good to go near the start of september. Though i have heard of people applying in august and still getting it the same time as everyone else (sometime in september)

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ccoh Newbie

ccoh

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yeah, weird and a bit of a bummer. If you've been in school forever (like me!), there's a lifetime limit on OSAP, but which can be extended for a 'doctorate', and even though you graduate a doctor, it's still a bachelors, so no extended osap. Frustrating!

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mbene085 Newbie

mbene085

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A lot of people mistakenly think that medicine is a graduate degree. Its not. Its undergraduate.

 

I'm actually not sure anything other than masters and PhD programs are technically "graduate" degrees.

 

It's true. We get the shaft in that sense! It's the 'undergrad' degree that gives you a Doctorate at the end! So we have the "not undergrad-like AT ALL" $$$ tuition without the funding benefits that come with graduate degrees (would I ever kill for an OGS right about now).

 

I'm not seriously complaining though. MSc and PhD students need OGS/NSERC PGS to help feed themselves. Our job prospects when we graduate help counterbalance our giant LOCs.

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