OSAP funding

[globy321]

Hi. I was wondering what is the maximum amount of money that OSAP will give you in the first year of med school?

[x-over]

I think it depends on your situation (not sure if they look at parental income still) but on your income, assets, savings etc

 

I have another related question - when do we start applying for OSAP? Also, when do we receive the tuition statements? I need those to arrange for a student line of credit.

 

Does anybody have a recommendation for which LOC from which bank? I looked into RBC today, not sure if they are all the same. The rate is prime +1.

[sticky1]

BMO has prime rate. check it out : http://www4.bmo.com/personal/0,2273,35649_36829,00.html#professional

 

What is the maximum OSAP funding the OSAP will issue? Is there a limit on OSAP funding? Is it $10,000 or something?

[rmorelan]

BMO has prime rate. check it out : http://www4.bmo.com/personal/0,2273,35649_36829,00.html#professional

 

What is the maximum OSAP funding the OSAP will issue? Is there a limit on OSAP funding? Is it $10,000 or something?

 

according to their calculator it is about 13500-14000 for the first year (40 weeks of school). You are forgiven for a good chuck of that, so maximizing it if you can seems like a good idea!

[Tan008]

I think it depends on your situation (not sure if they look at parental income still) but on your income, assets, savings etc

 

I have another related question - when do we start applying for OSAP? Also, when do we receive the tuition statements? I need those to arrange for a student line of credit.

 

Does anybody have a recommendation for which LOC from which bank? I looked into RBC today, not sure if they are all the same. The rate is prime +1.

 

All banks should give you prime right now. You have to go talk to them in person though. Don't go for anything that is more than prime.

[future_doc]

Does anybody have a recommendation for which LOC from which bank? I looked into RBC today, not sure if they are all the same. The rate is prime +1.

 

 

There is lots of information here if you search and check out other threads..read them before doing anything

[MillerTime]

for the majority of people, max OSAP is set at $350/week, so if you have a 40 week long first year, then it would be $14000

[davidkey777]

Oh, I thought that max OSAP was set at $500/week, not 350$. MillerTime, where did you find the infos stated about 350$/week?

[MillerTime]

Oh, I thought that max OSAP was set at $500/week, not 350$. MillerTime, where did you find the infos stated about 350$/week?

 

https://osap.gov.on.ca/eng/not_secure/App_limit_max_1234.htm

[rmorelan]

https://osap.gov.on.ca/eng/not_secure/App_limit_max_1234.htm

 

Yeah I will confirm that, both the financial office at my school and the website said 350 was the limit.

[Bets]

Hey Millertime ... I sent you a pm.