NSLSC and OSAP
The Canada National Student Loans Service Centre (NSLSC) is the one place where Canada’s students should go when they need to find out as much as they can about their student loans.
In the event that you are receiving a Canada or Integrated Student Loan, or if you are hoping to do so, it is always a good thing to try and find out as much information as you need from legitimate sources.
This is because there are so many fraudulent websites and networks out there that can mislead you. The NSLSC is government sponsored by the Canadian government.
The NSLSC oversees a number of loans that students normally apply for and these include the following:
· Canada Student Loans
· Canada Student Loans for Part-time Students
· Canada-Ontario Integrated Student Loans
· Canada-Saskatchewan Integrated Student Loans
· Canada-Newfoundland and Labrador Integrated Student Loans
· Canada-New Brunswick Integrated Student Loans
· Canada-British Columbia Integrated Student Loans
Through the NSLSC students are able to get access to their loans and loan information conveniently without having to go through a lot of processes.
There are a lot of useful details that you will come across when you visit the NSLSC. If you need to find out the status of your loan, whether it has been approved or not, your repayment balance or any details of a new loan that you may have received, you do not have to walk into any office; everything that you need is available here.
The role of the NSLSC is important especially to students who receive loans, grants scholarships, repayment assistance programs, bursaries and fellowships.
These financial assistance programs are normally administered through the Office of Student Financial Aid & Scholarships (SFAS) on behalf of the different levels of government that make them available.
The government runs a student aid program, Ontario Student Assistance Program (OSAP) through which students can be able to make the best use of the financial aid programs. There are different kinds of aid available.
Students are encouraged to either apply for the OSAP or 30% off Ontario Tuition. Just in case you are not aware, the fact that you have applied for OSAP means that you automatically qualified for the 30% off Ontario Tuition program so you do not need to fill in a different application for it.
NSLSC and Ontario Student Assistance Program (OSAP)
OSAP provides financial assistance to students through two ways. You can either get money grants or a student loan. The difference between these two is that unlike student loans that have to be paid back, money grants do not have to be paid back.
These financial assistance programs are offered by both the federal government and the government of Ontario. From the moment you fill in application for one OSAP, you will have access to so many other financial aid programs which are relevant to your financial situation.
OSAP is available for students who are attending a public school or even a post-secondary school not just in Canada, but all over the world as long as the school is among the list of schools accredited by OSAP.
To qualify for OSAP you need to at least be legally a citizen of the Canadian republic, be a permanent resident or a protected person under the laws of Canada.
There are a number of things that the government considers when determining student eligibility for OSAP, which can include anything from your marital status, the program of study that you are enrolled in, your family expenses and the financial contribution that your family is making towards your education.
However, in the event that you have ever defaulted on a student loan, failed to pass a credit check or in the unlikely event that you have been declared bankrupt, you will definitely not qualify for the loan. This ineligibility is also applied to international students whether or not they meet the eligibility criteria.
*In the event that you are single and have no dependents, you can get up to $12,240, while married applicants are eligible for $19,040.