OSAP Appeals

Adjustment to Vehicle's Ownership

Applicants must list any vehicles for which the ownership is in their name (or their spouse’s name, if applicable) as of the asset valuation date.  This includes vehicles that the applicant or spouse have leased through a leasing company.

The Ministry will consider removing a vehicle from the OSAP application form under the following conditions:

• Vehicle Has Been Sold
• Termination of Lease After Asset Valuation Date
• Vehicle Listed Twice Due to License Plate Error
• MTO Error

 

Vehicle Has Been Sold

If a student and/or spouse sells the vehicle prior to the review deadline (i.e., eight weeks before the end of the student’s study period), the value of the vehicle can be deleted for financial need assessment purposes, provided that the vehicle was sold for a reasonable market price and the proceeds of the sale are reflected on the application as other assets.  The student must demonstrate that the change in ownership resulted from an “arm’s length market transaction”.  Ownership transfers to family members will not be considered.  (For OSAP purposes, family members are defined as parents, children, siblings, grandparents, aunts, uncles, in-laws, and cousins.)

Documentation required:

• A letter from the student explaining when the vehicle was sold, including whether or not this transaction involved an immediate family member. The student must confirm that they have consulted with the Ministry of Transportation (MTO) and that they have had the records at MTO updated; and
• Documentation to confirm any debts repaid from proceeds of the sale of the vehicle. Debt must be directly related to financing the initial purchase of the same vehicle.

 

Termination of Lease After Asset Valuation Date

If a student and/or spouse terminate the lease of a vehicle after the asset valuation date and prior to the review deadline (i.e., eight weeks before the end of his/her study period), the value of the vehicle can be deleted for need assessment purposes. If terminating the lease results in a net increase in the student/spouse’s financial assets, the new value of financial assets must also be reported for assessment purposes.  The student must demonstrate that the change in ownership resulted from an “arm’s length market transaction”. This term is defined, and examples are provided, in 7a above.

Documentation requirements

• A letter from the student explaining when the lease was terminated, including whether or not this transaction involved an immediate family member. Students must confirm that they have consulted with MTO and have had the records at MTOupdated; and
• Documentation from the vehicle leasing company confirming the net cost of the lease termination.  

 

Vehicle Listed Twice Due to a License Plate Error

The license plate information is a factor in matching information from MTO. If the student did not report the license plate information accurately, then the results from MTO would yield a vehicle listed by the student and the same vehicle (under a different plate number) listed by MTO.

Documentation requirements:

• A letter of explanation from the student.  The letter must include details with respect to make and model, year and current market value of the vehicle; and
• A copy of vehicle registration.

 

MTO Error

If the Ministry of Transportation (MTO) incorrectly attributes a vehicle(s) to a student and/or spouse, then the value of that vehicle can be deleted for financial need assessment purposes.

Documentation required:

• student and/or spouse must provide proof that the records at MTO have been updated.