Payment procedures have changed for all OSAP Students
Invoices are mailed, by term, to your home address; however, you can also view your financial statement through your LORIS account. Refer to the schedule of Academic Dates for the due dates.
- If OSAP will be covering the full amount of your tuition fees, there is no payment required. Ensure that you pick up and negotiate your loan documents at the earliest date that LORIS indicates they are available. Students who do not negotiate their loans before the due date are still responsible for interest charges.
- If OSAP will not be covering the full amount of the tuition fees, it will be the student's responsibility to pay the difference by the due date. Loan documents must be picked up and negotiated prior to the due date to avoid any further interest charges.
- If you have not currently applied for OSAP and do not have a loan estimate, your tuition fees are expected to be paid by the due date.
Processing your OSAP entitlement is essential to keeping your student account current. A late payment charge will be assessed after the due date on all outstanding balances owing for ALL students including those receiving OSAP.
If your entire balance owing is covered by OSAP funds, and these funds are applied to your account during the first month of the term, all late payment charges will be reversed in full.
If a portion of your balance owing is covered by OSAP (applied during the first month of the term), the interest applicable to that portion of your balance will be reversed from your account. For example, if you owed $6,000 for tuition and fees and your OSAP award was only $4,000, interest would accrue on the remaining $2,000 starting from the payment due date. If OSAP is processed after the first month of the term, no reversal of interest will occur.