lemonade Posted June 22, 2010 Report Share Posted June 22, 2010 Can anyone give me information about either programs, such as how much is the maximum you'd get, if there's a program where you only have to pay a specified amount of your loan (like OSAP does) etc. I'm trying to figure out which one I should apply for. I grew up in MB so I qualify for that one, but I moved to ON for university and my mom moved too, so I have used her residency to apply for OSAP before. Link to comment Share on other sites More sharing options...
silverjelly Posted June 23, 2010 Report Share Posted June 23, 2010 Can anyone give me information about either programs, such as how much is the maximum you'd get, if there's a program where you only have to pay a specified amount of your loan (like OSAP does) etc. I'm trying to figure out which one I should apply for. I grew up in MB so I qualify for that one, but I moved to ON for university and my mom moved too, so I have used her residency to apply for OSAP before. If you really do have the choice, I think you should go for OSAP. I'm from MB attending an Ontario school but have no residency here so I had to go with MB student aid, but OSAP has loan forgiveness after the first $7000. MBSA has some bursaries and stuff because of the big financial need but not enough to make up what Ontario can offer, which is basically up to $9000 per year forgiven. This is how I understand it, anyway. Link to comment Share on other sites More sharing options...
lemonade Posted June 23, 2010 Author Report Share Posted June 23, 2010 If you really do have the choice, I think you should go for OSAP. I'm from MB attending an Ontario school but have no residency here so I had to go with MB student aid, but OSAP has loan forgiveness after the first $7000. MBSA has some bursaries and stuff because of the big financial need but not enough to make up what Ontario can offer, which is basically up to $9000 per year forgiven. This is how I understand it, anyway. silverjelly, thanks for the info. Do you know what the max MBSA will give each year? Does anybody else have any information/input? Link to comment Share on other sites More sharing options...
keith_015 Posted June 25, 2010 Report Share Posted June 25, 2010 I'm possibly in a similar situation lemonade. I have no permanent "ties" to Ontario come the end of August when I start at U of M as well. I was thinking about talking with MB student aid as they were the ones who got me through undergrad. The bonus I had with getting MB student aid was that the amount lent to me was increased based on the factor of cost associated with living and studying out of province including travel back to Manitoba, higher tuition costs and the cost of living. I think I received the maximum amounts allotted being around $11.5k per year combined with federal aid. As a bonus, for the 2 years I received MB student aid, I received Millennium Bursaries, which actually paid for both years of the MB portion of student aid I received. What would be different I would assume now, is that as a MB applicant being in MB, the cost of living would possibly be factored in and thus may somehow lower your amount disbursed. So if you are like me, I'd rather use the interest free student loans as much as possible, then pay them off just as the LOC spending freeze would kick in. OSAP may provide higher funding based on the out-of-province factor. Ultimately though, the factor that will decide where you will get funding is your recent residency. Although I grew up in MB until 17, and received MBSA, I have lived as a non-student for the past number of years in Ontario and would be likely required by law to get OSAP, despite my future lack of "ties". The rule is: residence for the past 12 months (exception if were an out of province as a student). Things like CRA records of income tax filings may be used to determine such as decision (so if you filed in Ont, you may have to do OSAP), as CRA and student aid are tied together in communicating information. Ontario has the loan forgiveness, but I believe part of that is returning for service in Ontario. Nonetheless, keep me updated! Link to comment Share on other sites More sharing options...
silverjelly Posted June 25, 2010 Report Share Posted June 25, 2010 silverjelly, thanks for the info. Do you know what the max MBSA will give each year? Does anybody else have any information/input? I think the max is around $13,500 for two terms but they've given me more than that for third year, because it's technically 3 terms for them (adding a summer month). Link to comment Share on other sites More sharing options...
lemonade Posted July 8, 2010 Author Report Share Posted July 8, 2010 keith, the thing is that I'm not sure if OSAP will give me the loan since the time I've spent in ON has also been while I attended school. I'm not sure if they (osap) will consider the fact that they gave me a loan a few years ago and therefore, give me a loan this time too. So I'm not sure what will happen. Did you figure your situation out yet? Link to comment Share on other sites More sharing options...
ellen Posted July 15, 2010 Report Share Posted July 15, 2010 Hi guys, I'm in a similar situation: graduated high school in Manitoba, then moved to Ontario for undergrad and med school (currently in year 4). I think Manitoba Student Aid is definitely better. I get $350/week of study (which is the maximum for both MSA and OSAP), like most med students, and have gotten the Millenium Bursary automatically every year. It forgives student loans down 6K or less, regardless of how much my loan was for. 2nd year for us was something like 41 weeks, so I got $14,350 in loans, and only will have to pay back about $6000. I also don't seem to be particularly more needy than my classmates... OSAP also has loan forgiveness: if your school year has ~40 weeks or less, they forgive down your loan down to $7000; if your school year is more than that, they forgive down to $10,500. Hope that helps! Link to comment Share on other sites More sharing options...
silverjelly Posted July 15, 2010 Report Share Posted July 15, 2010 I get MB Student Aid and although I've received substantial bursaries each year, I don't think it brings the loan down nearly as far as 6K. Link to comment Share on other sites More sharing options...
ellen Posted July 17, 2010 Report Share Posted July 17, 2010 Wow really? I just assumed everyone was getting it, maybe I AM more needy than average, haha. Manitoba Student Aid doesn't seem to have a published policy on bursaries/loan forgiveness anywhere on the internet, so I wonder how they make those decisions. Link to comment Share on other sites More sharing options...
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