Ask the Schoolar
Ask The Scholar
Question Details

Question: Salam Alaykum I have noticed that there is an inaccuracy on this website regarding the "grace period" given to students who have taken OSAP loans. The misinformation is that no interest will be charged for six months after graduation. However interest is charged immediately after graduation on the Canada student loan portion of the loan and not the Ontario portion. I know this from experience because I had to pay interest on my loan despite paying it back only weeks after graduating. Besides this information is readily available on the OSAP website: "you have six months after you graduate or leave full-time studies before you need to start repaying your OSAP loan. During this 6-month grace period you will:not be charged interest on the Ontario portion of your loans be charged for interest on the Canada portion of your loans"

Thanks for correcting me.

I pray to Allah to forgive us our sins, major and minor, open and secret, past and present,  and of which we know and those we don't.

Ask the Schoolar