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Maintaining Interest-Free Status

In order to maintain interest-free status for previous full-time Ontario Student Assistance Program (OSAP) loans, you must be confirmed with the National Student Loan Service Centre (NSLSC) as a registered full-time student. Interest-free status does not apply to previous part-time loans.

Confirmation of your enrolment is completed either through:

  • A confirmed full-time OSAP application for the current term (confirmation of enrolment is completed each term once all required information for an OSAP application is submitted); or
  • Completion of an Interest-Free Status application on your OSAP account to notify the NSLSC of your full-time enrolment.

To be eligible for continuation of your interest-free status you must be:

  • A full-time student or registered in a 60% or higher course load per term (40% or higher for students registered with OSAP with a permanent disability); and
  • Enrolled in an OSAP-eligible program.

Application Process

Continuation of interest-free status forms must be completed by full-time students online each academic year once registered (confirmation can only be completed for full-time registered terms and cannot be completed if you are not fully registered at time of form submission). As you are completing your form, your previous full-time confirmed study period will be noted. Ensure there is no overlap in dates from your previous confirmed full-time study period and the dates indicated on your new form submission.

Interest-Free Status application forms can be completed online beginning 15 days before the start of the study period/term and must be completed at least 21 days prior to the end of the study period/term.

Forms cannot be backdated to past terms. It is your responsibility to ensure your interest-free status forms are submitted for all registered terms on time.

Students with a restriction on their account preventing the release of OSAP funding must complete an interest-free status term if continuing with full-time registration while restricted from OSAP.