Quick question:
I started working about a month ago, but when I filled out my OSAP app (before I started working) I put "0" as the income I planned on making during the summer. So when I pick up OSAP in September, do they ask you if that number has changed? I'm pretty sure they asked me this last year, but I'm not entirely sure lol

Seeing as my funding has already been recalculated, and assuming that the reason for this is that OSAP understands I will be making more in the summer than I previously indicated, is it possible they already know of my change in income...and thus I do not have to report it?

Originally Posted by exuberant888

Seeing as my funding has already been recalculated, and assuming that the reason for this is that OSAP understands I will be making more in the summer than I previously indicated, is it possible they already know of my change in income...and thus I do not have to report it?

I can't re-call exactly but I believe when you go to pick-up your OSAP, they will re-ask you how much money you made during the summer and how much money you plan on making through the year. So you might eventually have to. Also, if you're saying you won't be able to pay for rez, tuition, etc, there are always bank loans. There is always a way even if it isn't the best way.

I also heard from somewhere that OSAP allows you to make a certain amount of money in the summer before they start decreasing the funding for your loans. For instance, if OSAP allows you to make $2000 in the summer, anything you make less than that will not decrease your funding entitlement. Is this true? And if so, does anyone know the actual number?

Originally Posted by exuberant888

I also heard from somewhere that OSAP allows you to make a certain amount of money in the summer before they start decreasing the funding for your loans. For instance, if OSAP allows you to make $2000 in the summer, anything you make less than that will not decrease your funding entitlement. Is this true? And if so, does anyone know the actual number?

I believe it's $1500.

Originally Posted by MacAttk

I believe it's $1500.

After I ssurpass this amount of income, do they decrease my funding on a 1:1 ratio?

I actually think it's about 2700 ish~ I went to financial counselling and the person told me OSAP expects students to make around 2700 during the summer anything above that will decrease your entitlement but it's not at a 1:1 ratio. I'm not sure about in the summer for for me during the school year my extra income decreased my entitlement by 50% of the extra income. So say I made 1000 more than their alloted amount they decreased my entitlement by about 500.

Thanks for the replies everyone. Managed to learn a few things about OSAP.