Receiving Your Funding
Canada and Ontario have implemented a lifetime loan agreement that will cover you for all the time you are in full-time postsecondary studies; this lifetime loan agreement is called the “Master Student Financial Assistance Agreement”, or “MSFAA”.
With the MSFAA, you can print out your lifetime loan agreement anytime after you submit your online OSAP application, and submit the agreement and your identification to any participating Canada Post outlet in your area. This only needs to be done ONCE, and will be in place throughout your time as a full-time postsecondary student.
Once your OSAP application is submitted your OSAP entitlement will be calculated. You will be notified of your OSAP funding entitlement via an email directing you to check your OSAP account or by paper notification as per your direction on your application.
Before any funding can be disbursed to you the following steps must be completed:
- Submit your Master Student Financial Assistance Agreement (MSFAA) to a designated Canada Post outlet (if not done so previously). You will find a list of designated Canada Post outlets near you on the CanLearn website.
- Submit all required OSAP supporting documents to the Student Awards Office
- The Student Awards Office must confirm your full-time enrolment (prior to each disbursement)
- Confirm your income (prior to second disbursement)
Funding will be released once the Student Awards Office has confirmed your full-time enrolment (beginning in September). Please note the Student Awards Office cannot confirm your full-time enrolment until:
- Your OSAP application is complete and submitted;
- All documentation is submitted and processed, including your MSFAA;
- You are enrolled full time in all terms of study
In 2017-2018, students may choose to remit OSAP funding directly to Queen’s University to be applied to their Queen’s student fee account. If a student does not choose to remit, OSAP funding is deposited directly into the student’s bank account. Prior to the receipt of your second term funding, you must confirm your income on your online OSAP account.
Starting the 2015-2016 academic year, students may choose to receive only the grant(s) for which they are eligible and decline the Canada-Ontario Integrated Student Loan. This option is available only for students completing an OSAP Application for Full-Time Students. Interested students must complete the “Request for Grant Only Funding” form and submit it to the Office of the University Registrar (Student Awards).
Please note: Students in receipt of OSAP who decide to decline the loan portion of the OSAP entitlement will be ineligible for General Bursaries.
It’s important that you keep your address and contact information up to date on both your account on the OSAP website, as well as with the National Student Loan Service Centre (NSLSC). In addition, you must keep your bank account information up to date with the NSLSC.
Refer to the OSAP website for further information.