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OSAP Repayment and Interest-free status

Interest-Free Status for Previous Loans

Complete a Continuation of the Interest-Free Status form, which is available on the OSAP website under the forms section or at the Financial Aid Office. Submit the completed form to the Financial Aid Office for processing at the beginning of your study period. If you had loans from another province, there is a specific Confirmation of Enrolment form that you will need to request from that provincial student aid branch for processing at our office.


Repayment of your loan is required if you have:

For the first six months following your program end date, you will not have to make payments on your student loan, however, interest will accumulate during this period.

If you are going back to school but are not receiving a loan, contact National Student Loans Service Centre (NSLSC) to suspend payments of previous student loans until you have completed your program. If you are a resident of Ontario you must submit a paper copy of the Continuation of Interest-Free Status/Confirmation of Enrolment (Schedule 2) form which is also available through Student Financial Services This ensures that your Canada-Ontario Integrated Student Loan remains in interest-free status. If you are reapplying for further OSAP, Conestoga will automatically confirm enrolment and suspend interest and repayment.

Repayment begins six months following the study end date. The National Student Loan Service Centre will contact you to set up repayment arrangements. Interest starts gaining on federal loans immediately after the study period end date.

As a full-time student in Ontario you received an integrated loan with the funds coming from the Government of Canada and the Government of Ontario to be repaid through the NSLSC.

Integrated loans

For integrated loans:

The National Student Loan Service Centre (NSLSC) manages inquiries relating to student loans. If you have questions related to your loan visit NSLSC online or contact them by phone at 1-888-815-4514.

Repaying Loans

Payments can be made via your bank account - pay your bill to the National Student Loan Service Centre using your loan account number (which is printed on mailed correspondence from OSAP). Contact the National Student Loan Service Centre for further details at 1-888-815-4514.

The National Student Loan Service Centre offers the Repayment Assistance Program if you are struggling with repayment.

Do you or a family member collect Aeroplan loyalty points? Convert Aeroplan miles into payments to offset Ontario Student Assistance Program student loans.  Redeem miles in $250 denominations and transfer funds through Higher Ed Points. Visit Higher Ed Points online to learn more or join and take advantage of this payment option.

OSAP Coverage for Co-op Term

If you are unable to obtain a paid co-op position or if your co-op earnings are insufficient to meet your living expenses, you may be considered for OSAP funding. Apply for OSAP online for that term and indicate on the application that you are on co-op during that time. OSAP will assess your costs and resources accordingly. If you are in a paid co-op position, your resources are usually too high compared to your costs which makes you ineligible for OSAP funding.

Video: Repaying your OSAP

Repaying your OSAP video
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