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Rank: Senior Student
Groups: Member
Joined: 3/13/2008
Posts: 60
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Can it go toward residence? Or only tuition and books? Meal plan?
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Rank: Student Body President
Groups: Member
Joined: 3/4/2008
Posts: 1,132
Location: Ottawa
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OSAP gives you funding based on the difference their formula comes up with for your ability to pay and your need. They do give out more money if you are going away to school. And you must be a full time student to get the money. Beyond that, like scholarships, it's money. So long as you don't drop out of school, or live at home and commute a long distance while getting money on the basis that you are living away, you can do with it as you please. Unlike scholarships, you do have to pay it back, with interest, at a later date, so if you do find yourself with extra funds, I would advise being frugal, and put stuff in a savings account rather than spend it on fancy coffee/ipods/cell phone ring tones/beer etc. I don't mean to suggest that you shouldn't ever splurge while getting loan money, but do remember that you will have to pay it back with interest.
 
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Rank: Senior Student
Groups: Member
Joined: 3/13/2008
Posts: 60
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Ok. Thanks. Yeah I was just wondering because my mom heard that government loans (OSAP) can only be used for tuition and not for residence so I got really worried. But then I became skeptical b/c I think the max that OSAP can give you is 11,900 and it doesn't cost that much just for tuition. So I wanted to confirm. But I'm pretty sure scholarships are only for tuition? Or am I inaccurate there too?
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Rank: Student Council
Groups: Member
Joined: 3/5/2008
Posts: 400
Location: Paris, Ontario
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If you don't need the OSAP money, take it and invest it! lol.
Success is not the key to happiness, happiness is the key to success. If you love what you do in life, you will be a success!!
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Rank: Student Body President
Groups: Member
Joined: 3/4/2008
Posts: 1,132
Location: Ottawa
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Anonymous wrote:Ok. Thanks. Yeah I was just wondering because my mom heard that government loans (OSAP) can only be used for tuition and not for residence so I got really worried. But then I became skeptical b/c I think the max that OSAP can give you is 11,900 and it doesn't cost that much just for tuition. So I wanted to confirm. But I'm pretty sure scholarships are only for tuition? Or am I inaccurate there too? Fundamentally, it's all for expenses associated with being a (usually full time) student. Once you've got the scholarship, it's part of the resources available to you to spend while you are a student. You can view it as the scholarship is paying down your tuition fees so that you can use some of your other money for fun, or you could view the scholarship as a bonus which lets you have more money for fun. It really doesn't make a difference. If you have $5,000 in scholarship money, and $5,000 in your own savings, you have $10,000. If you have $2,500 in scholarship and $7,500 in savings you still have $10,000. That being said, often scholarships are paid out through the university and applied to your account with them first (so tuition, fees, residence, etc). But it is possible to get scholarships that exceed your fees, in which case you would get money to do with as you pleased (like buy books). Or perhaps you paid your tuition in full before getting the scholarship, so you'd get money back, and at that point it's irrelevant if you got the "scholarship" money back or your own money back. And just to clarify - with OSAP, if you are living away from home, you can get more money than if you stay at home. $11,900 is the max if you go away, I think it's more like $7,000-$8,000 if you live at home.
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Rank: Frosh
Groups: Member
Joined: 7/11/2008
Posts: 2
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hey everybody. I was wondering if I can use my OSAP money to pay for my braces. Can I do that?
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Rank: Student Council
Groups: Member
Joined: 6/25/2008
Posts: 372
Location: waterloo, ontario
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There are no restrictions as to where you can spend the money (as OSAP $ comes through a cheque that you deposit into a personal bank account – they do not submit tuition money / university expenses on your behalf or anything like that). So yes nassrine, you can use it towards your braces =P because –you- choose how to spend it. OSAP typically expects you to use the loan for tuition, transportation and living expenses (including rent or food) but students also use OSAP to fulfill other needs - like health, entertainment, etc. As Kaylya mentioned it isn't best to over-spend (especially on things you can do without) if you can help it since you have to start repaying the loan 6 months after you graduate. But ultimately, the expenditure is all upto you  So spend wisely!
Environmental Studies & Resource Management, Earth Science
University of Waterloo '11
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Rank: Valedictorian
Groups: Member
Joined: 3/7/2008
Posts: 551
Location: toronto
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Kaylya wrote:OSAP gives you funding based on the difference their formula comes up with for your ability to pay and your need. They do give out more money if you are going away to school. And you must be a full time student to get the money.
Beyond that, like scholarships, it's money. So long as you don't drop out of school, or live at home and commute a long distance while getting money on the basis that you are living away, you can do with it as you please. Unlike scholarships, you do have to pay it back, with interest, at a later date, so if you do find yourself with extra funds, I would advise being frugal, and put stuff in a savings account rather than spend it on fancy coffee/ipods/cell phone ring tones/beer etc. I don't mean to suggest that you shouldn't ever splurge while getting loan money, but do remember that you will have to pay it back with interest. I actually do think you get more if you're going away. People who go to school within a certain distance of their homes (deemed commutable) get less don't they?
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Rank: Student Body President
Groups: Member
Joined: 6/5/2008
Posts: 1,093
Location: Edmonton, AB
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That's what she said.
University of Alberta - Mechanical Engineering '11
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Rank: Student Council
Groups: Member
Joined: 6/25/2008
Posts: 372
Location: waterloo, ontario
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karla wrote:That's what she said. I'm so sorry, but I just lol'd. Gosh need to stop watching The Office...
Environmental Studies & Resource Management, Earth Science
University of Waterloo '11
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Rank: Frosh
Groups: Member
Joined: 7/24/2008
Posts: 2
Location: Dresden/Chatham ON
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eco wrote:
I actually do think you get more if you're going away. People who go to school within a certain distance of their homes (deemed commutable) get less don't they?
Yeah, I didn't get living expenses because I live about 22 kilometres from my school (I think the limit is 40 km). Even though I am moving onto campus there because I can't drive.
St Clair College- Thames Campus- Developmental Service Worker
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