OSAP Loan vs Grant

[JDapplicant2024]

Hello, does anyone know how does OSAP loan vs Grant system works?? 
say if I got approved for 10k loan for first year.. it says I can choose not to accept it and only be considered for grants…would that amount be the same? Less? I want to apply for grant instead of loan, but I am worried the amount will be much lower and then I would have lost the approved amount too… please help!

[MyWifesBoyfriend]

From my understanding, I don't think rejecting the loan diminishes your grant value. However, if you're applying for your school's needs-based financial aid, they're going to ask for what loan amount you qualified for, and this will be used in their adjustment of your finaid package, regardless of whether or not you accepted the loan portion.

Not sure what your situation is, but accepting both the loan and grant for me was a no-brainer. Interest free money for education is a good resource to draw upon. 

Edited Friday at 08:31 PM by MyWifesBoyfriend

[JDapplicant2024]

 

1 hour ago, MyWifesBoyfriend said:

From my understanding, I don't think rejecting the loan diminishes your grant value. However, if you're applying for your school's needs-based financial aid, they're going to ask for what loan amount you qualified for, and this will be used in their adjustment of your finaid package, regardless of whether or not you accepted the loan portion.

Not sure what your situation is, but accepting both the loan and grant for me was a no-brainer. Interest free money for education is a good resource to draw upon. 

I did not qualify for any grant as per the breakdown… the only thing I got is the “Canada-Ontario Integrated Loan”… this is why I am also confused! Does that mean I didn’t qualify for any grant at all (coz it doesn’t say in the breakdown)?

Edited Friday at 09:42 PM by JDapplicant2024

[wordache]

Yes, if a grant doesn’t appear in the amount they calculated then you did not qualify for a grant. No separate application for grants. May as well take the loan since it doesn’t accrue interest until you graduate and you can put it in a savings account to have if necessary and then give it back when you’re done school.