If you've already paid off the loan they gave you previously, then if they don't just re-assess your entitlement this year, nothing happens.
If you still have an existing loan with them, then they may ask for an overpayment back from you (asking you to pay back part of the loan before time is up). You'll have to pay it back, phone in the NSLSC call-center to get them to mail you a receipt when the payment is processed, and then submit that receipt with your overpayment notice letter to the Mac's financial office. Give it two-three weeks and OSAP peeps will either give you a letter that says your account has been cleared or give further instruction.
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