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OSAP and working part time

 
Old 07-13-2009 at 06:48 PM   #16
Duarch
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Does OSAP have access to your bank account? I don't recall having filled in any information about the bank I use or my account # during my OSAP application so I don't see how they would be able to view your savings...
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Old 07-13-2009 at 06:50 PM   #17
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Quote:
Originally Posted by Duarch View Post
Does OSAP have access to your bank account? I don't recall having filled in any information about the bank I use or my account # during my OSAP application so I don't see how they would be able to view your savings...
There's a part where you have to fill out your assets or savings account. It's just the amount. They can easily check it because it would be under your name.
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Old 07-13-2009 at 06:51 PM   #18
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Quote:
Originally Posted by Duarch View Post
Does OSAP have access to your bank account? I don't recall having filled in any information about the bank I use or my account # during my OSAP application so I don't see how they would be able to view your savings...
There's a section towards the end of the application where you put in all other "assets".

Assets include liquid assets, an example of which is money in a savings account.
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Old 07-13-2009 at 07:01 PM   #19
Duarch
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Lol does it count as your assets if it's in a shared bank account?
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Old 07-13-2009 at 07:54 PM   #20
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Fml
My OSAP estimate is $0. Apparently I have the funds to pay my tuition completely.
The problem is, I definitely do not.

I've worked a lot through high school. In grade 12 I pulled off two jobs, working about an average of 35 hours per week. My grades and social life suffered horribly, but I did earn a lot of money. And I saved it.

Funnily enough, my twin brother is also coming to Mac. Like me, he worked a lot through high school. His wages were, however, higher than mine, but to counteract that he was much more a spendthrift than me.

Obviously, most of our information is the same. His estimate: a few hundred bucks

Sure, this isn't a fortune. But it's something. Getting even that 1)helps with his tuition 2)makes it easier for him to get a job through work programs 3) gives him the ability to apply for bursaries

Tomorrow I'm going to tour my residence, so hopefully I'll be able to try and sort out whatever cruel mistake they've made. In the meantime, does anybody have any advice?
Old 07-13-2009 at 08:16 PM   #21
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Quote:
Originally Posted by Starkad View Post
My OSAP estimate is $0. Apparently I have the funds to pay my tuition completely.
The problem is, I definitely do not.

I've worked a lot through high school. In grade 12 I pulled off two jobs, working about an average of 35 hours per week. My grades and social life suffered horribly, but I did earn a lot of money. And I saved it.

Funnily enough, my twin brother is also coming to Mac. Like me, he worked a lot through high school. His wages were, however, higher than mine, but to counteract that he was much more a spendthrift than me.

Obviously, most of our information is the same. His estimate: a few hundred bucks

Sure, this isn't a fortune. But it's something. Getting even that 1)helps with his tuition 2)makes it easier for him to get a job through work programs 3) gives him the ability to apply for bursaries

Tomorrow I'm going to tour my residence, so hopefully I'll be able to try and sort out whatever cruel mistake they've made. In the meantime, does anybody have any advice?
That's what Im afraid of, if having a job will render OSAP to give me less money since obviously having a part-time job won't generate enough money for school.
Old 07-13-2009 at 08:42 PM   #22
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Jhey, you should really get a job no matter what. OSAP isn't actually giving you less money, because really they don't give you any money at all. It's a loan you'll eventually have to pay back, with the money you earned from your job. My issueis more that, without any OSAP loan at all, I can't benefit from any of the extra bursaries and scholarships it would make me eligible for.Bursaries and Scholarships are free money that you don't have to pay back. But without a single cent from OSAP, I do not have access to them. >:(
Old 07-13-2009 at 08:52 PM   #23
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Quote:
Originally Posted by Jhey View Post
That's what Im afraid of, if having a job will render OSAP to give me less money since obviously having a part-time job won't generate enough money for school.
I was tempted to quit my job before I applied. I filled out the estimator (once with my income, and once without), and was told id get about 8500 while I was working, but over 11000 if i didnt have the income. The difference of about $3000 is WAY more than i could save while working, after bills and such.
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Old 07-13-2009 at 09:02 PM   #24
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Quote:
Originally Posted by tauntobr View Post
Saved money has a large effect on your OSAP loan amount. I have consistently maintained a savings account of approximately $6000 (by the time I fill out the OSAP application).

See my last post to see how much my OSAP loan amounts have dropped every year.
I was just saying that from my experience it doesn't. My OSAP amount has gone down drastically every year but at the same time the amount of money that I have been able to save up for school has also gone down drastically. So the fact that I had a lot less money in my bank account didn't help me to get more money from OSAP.
I think that the biggest factor with OSAP is the amount of money that your parents make.
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Old 07-13-2009 at 10:32 PM   #25
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I wouldn't say that your OSAP amount will go down for sure when you work. Once a counsellor told me that if I was working, I would get more OSAP... that doesn't really make sense but apparently it's true.

OSAP takes many factors into consideration, including your income and your parents income. I have known some people who didn't qualify at all for OSAP or only received $100 or so only because their parents earn a very high income.

In my experience, first year I received about $6000 or so, and I was working at the time. For second year, I will have a little more I think, probably because I am not working right now. This is probably because the government considers my family "middle income" or "modest income."

But hearing from others personal experiences will not help you much, as I said OSAP takes a lot into consideration. The best people to answer your question would be the counsellors at the Financial Aid office. If you have a chance this summer, you should go in soon to talk to a counsellor or try to call to ask them.

If you are planning on applying for OSAP you should do so very soon. I already applied and already have an estimate of how much I will get.
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Old 07-14-2009 at 06:15 AM   #26
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I'm pretty sure that if you haven't applied yet you have to apply by July 15th (aka tomorrow) in order for McMaster to consider OSAP as a payment option for your tuition. Also if you want to be considered for the QEII scholarship you have to have all of your signature papers in by this Friday (July 17th).
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Old 07-14-2009 at 07:03 AM   #27
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When I filled out the OSAP application in the beginning of summer I had estimated that I would make around $2000 working since I had planned to get a job however, I've decided not to and spend my time volunteering and prepping for my MCATs instead. I want to change that number to 0 but I can't seem to find a way to edit my application... any suggestions?
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Old 07-14-2009 at 08:39 AM   #28
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Quote:
Originally Posted by Duarch View Post
When I filled out the OSAP application in the beginning of summer I had estimated that I would make around $2000 working since I had planned to get a job however, I've decided not to and spend my time volunteering and prepping for my MCATs instead. I want to change that number to 0 but I can't seem to find a way to edit my application... any suggestions?
I also made some mistake when I filled my application, and when I called the Financial Aid Office, a lady told me that I could send them an email with personal information (name, sin, date of birth, MC student ID, etc.) and the changes need to be done.

Or you could download a form from here, http://sfas.mcmaster.ca/pdf/2009/091... ST%20FORM.PDF
fix it and mail it to
Office of Student Financial Aid & Scholarships
McMaster University, 1280 Main Street West
Gilmour Hall, Room 120
Hamilton, Ontario L8S 4L8


Actually I sent my request email yesterday and I am planning to send a mail if I couldn't receive any further information within this week.

[EDIT] Just read this topic http://www.macinsiders.com/showthread.php?t=2226 4 and someone mentioned
Quote:
Originally Posted by Inferno View Post
Yes, I tried to contact them via email earlier in June. They told me that all changes HAS to be made through mail ...
I am a little confused now b/c the lady told me I could correct my mistake via email. Well, let's wait and see~

Last edited by wendy0519 : 07-14-2009 at 09:54 AM.
Old 07-14-2009 at 10:54 AM   #29
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'Kay I have a question. I sent my declaration/supporting documentation pages to McMaster like... the 3rd of July. On my OSAP page, it says that the 'duties' on my checklist, including sending the declaration pages, will be cleared once the financial aid office at my institution has received them.

It's been like, a week and a half and I live in Toronto. It usually takes 5 days max to send anything to Hamilton. Should I be worried and call Mac and ask if they got them, or is it just OSAP being slow?
Old 07-14-2009 at 10:57 AM   #30
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Quote:
Originally Posted by feonateresa View Post
'Kay I have a question. I sent my declaration/supporting documentation pages to McMaster like... the 3rd of July. On my OSAP page, it says that the 'duties' on my checklist, including sending the declaration pages, will be cleared once the financial aid office at my institution has received them.

It's been like, a week and a half and I live in Toronto. It usually takes 5 days max to send anything to Hamilton. Should I be worried and call Mac and ask if they got them, or is it just OSAP being slow?
I wouldn't worry. Those papers need to be in before January or April (I forget which), so you have lots of time, even if something went wrong. Those papers are available on the OSAP site so you can print them off again if you need to.
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