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 in an OSAP-eligible program.
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 every academic year 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.