- April 18, 2024
- Posted by: legaleseblogger
- Category: Related News
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## Applying for OSAP Funding and Dealing with Limited Parental Support
I recently applied for OSAP funding, only to find out that I am not eligible for any financial assistance, thanks to recent changes in government policies. Unfortunately, my parents are not in a position to provide me with the necessary financial support for my tuition costs.
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## Revisiting the Issue
It is important to note that my parents’ income is the determining factor for my OSAP eligibility. Despite not living with them and working full-time to support myself, I am still classified as a dependent due to my non-estranged relationship with them. The frustration of being unable to access financial aid despite my circumstances is disheartening.
## Seeking Solutions
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****** just grabbed a
Had the same happen to me. Parents “made too much” for me to qualify myself, but their debt to credit ratio was too high (mortgage, car payments, etc) so the bank wouldn’t give them a loan either. They felt horrible but there was nothing they could do short of sell our home, but at least it got them to realize they were living above their means and made changes for their now retirement.
I took two years out of school and worked and saved like crazy to pay out of pocket. Ended up the best thing since no school debt, but it was scary and sucked like crazy at 18.
Book an appointment with the financial aid office of your school and have a chat with them
I was in the same boat.
* Picked a cheaper school for undergrad (ie lower cost of living)
* Worked part-time while in school
* Did co-op (which was the single best decision I made – gave me money and a ton of work experience for my resume as well as a network)
* Worked shitty but high-paying jobs during the summer when I wasn’t doing co-op
It sucked and I had zero fun because I literally couldn’t afford to do anything, but I managed to do three degrees this way.
I was in the same position. Couldn’t get loans because of my parent’s income but my parents didn’t pay for my schooling. I had to spend every last cent I had to pay my tuition each year, not spending a thing on anything other than school. I worked from april-September and that was enough for my program. It was extremely stressful and I don’t know what I would have done if I didn’t earn enough. I’m not doing that to my kids.
Have you tried loan options at your bank? Also, contact the school’s financial aid office. This problem is more common than you’d think.
Consider it a blessing, take a year or two, save up and pay out of pocket. Did that, graduated 2 years ago with zero debt and $5k in savings. Best decision.
Talk to financial aid, get a student line of credit
Do you have any savings? Part time job? These can help reduce the amount of debt you need to take on.
Or take a gap year and save for the whole year.
I had the same situation and ended up working 2 jobs through my 4 years of university to afford it all.
Look at alternatives. You can always take a year off, and save-up. Look at university-community college programs, where you can do a couple years at a community college and transfer into a university program year 3 or 4. Colleges tend to be much more amendable to part-time study as well.
Same happened to me, so I got a job.
If you apply as a part time student your parents’ income won’t be a factor.
After 2 years of full time work you could apply for a full time loan as an independent student .
If the program you’re taking offers a Co-op program, take advantage of that. The money I made from my co-op placement covered my tuition. I had a second job on top that I worked during the evening to make ends meet. It sucks, but graduating debt free is pretty rewarding, both financially and mentally.
I had a friend in that same position. He found a loophole with OSAP.
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Get legally married to someone else in the exact position you are in.
Then you will both qualify for maximum amount of OSAP funding and your parents income will have no bearing on you anymore.
When school is complete, get a divorce.
My friend filled out a form and her parents signed it saying that they were estranged so that she would be eligible for student loans. It wasn’t true but her parents didn’t save any money for her university and expected her to pay for it.
First…why is this “Fords” fault? I can’t stand the guy, but he didn’t have anything to do with your personal situation.
I didn’t qualify for OSAP either, and we were poor. But b/c my parents owned their house, I didn’t qualify.
So I took a solid 12 months off and worked two jobs to put the money away to go to school.
Wait a year and apply as a mature student.
Happened to me too, I wasn’t even living at home anymore. My mom was a single parent with multiple children. I got a line of credit and found a bunch of bursaries I qualified for. Side note – if you get bursaries be prepared to hand over 1/3 to the goverment for ‘taxes’.
Same happened to me which was so dumb, made too much money so I only got a small amount, my parents helped a bit and I had to put the rest on credit cards.
My understanding is that you might need to work full time for 6 years, then go back to school at age 24. If you apply for OSAP at that time, you will not need your parents’ income.
Join the Canadian Armed Forces. If you go part time you’ll get a flexible job and tuition payments out of it and if you go full time and there’s a job that’s in line with what you want to go to school for, there are paid education entry plans
Go to the bank.
When I was looking to apply years ago, I was told my parent’s income wouldn’t factor in as long as I’d been living on my own for at least a year. Maybe that is still the case.
I worked starting at 14 to pay for school, took a year off after high school to work and live at home, then afterwards had co-ops or summer jobs and part-time jobs during school (had to move to go to school).
I see you are working full-time already while living on your own. So you can get a second job, or perhaps you could move back in with your parents for a year while you save up? Or get roommates, if you don’t have them already?
Hey bud take a gap year and work. Working full time saving everything you can assuming you’ll be living at home rent free, you’ll make enough to cover your school. Pretty easy to just blame ford but buddy when you start making money and paying taxes you’ll be thankful for PC
Bank loan
You can’t declare as an independent without your parents income?
My partner had to take a year off to do a co-op and work to get enough money to fund their final year.
Line of credit for school from a bank. I had the same issue.
Estrange yourself
I was also in a similar situation; I was on my own to pay for school. I did what some posters have suggested: take a gap year to work and save, and get a student LOC or personal loan to fill the gap.
And also, look into bursaries and grants once you are in school. I don’t think many people apply for them so you might have decent odds of getting one.
This happened to me too, and we were on ok terms, but I also lived on my own and had a job.
I took a year off and worked full time + overtime. Paid for the first two years of college on my own, and took a Line of Credit for the third year. 1st degree. Years later, I went back to school for my 2nd degree, and by then, was a “mature student” and received OSAP no problem.
Honestly I think the solution you pick will be based on what program you plan on taking in school. Is it something practical that you can find a job in as soon as you finish, like nursing or trades? Or is it a general BA in an arts program?
If it’s the latter, take a couple years off and work because otherwise you’re going to graduate with a basic degree and no job potential. It’s sad but true. Most people with a BA in arts go back to school again to specialize* in something. Adding to their debt. The time off will also help you take the time to figure out what you really want to do without the pressure of going to school as soon as you graduate high school.
If it’s a career specific program, you can consider a student line of credit at a bank and ask your parents to co-sign. You don’t have to pay until your done school and as long as you pay it back your parents won’t have to. Or you can ask OSAP to reevaluate your application.
But PLEASE, don’t just go to school because you feel like you’re supposed too. It’s actually terrible to start off your life/20s $60k in debt with zero job prospects
In my job I advise students in these types of situations to apply for a LOC assuming their parents are able to co-sign. You may still qualify as having financial need and be eligible for some school grants, but there generally isn’t a way to make up the loss of OSAP via school funding.
The easiest solution is to work for a year and then not claim their income when you’re no longer a dependent.
I was in a similar situation for you. Student loans saved my life and allowed me to get an eduction, which then allowed me to make over 160k using the education I earned and pay off the loans in less than 2 years.
Nothing to do with Ford, it’s been this way forever.
Last year when I checked last, if you’ve been living away from your parents and working full time for 1 year, you are not required to use their income as a source.
Same thing happened to me. Plus they could not co-sign on any bank loans. I was terribly frustrated and resentful about it for a long time.
I got through university from a combination of:
– savings from high school job (I graduated early to work full-time for 6 months)
– student lines of credit (the banks will lend you a smaller amount without a co-signer)
– scholarships (was very lucky)
– part-time jobs, mostly on-campus and TA (time efficient)
– co-op (I picked my major based on this)
The co-op program was a much superior option to taking a year off half-way through. My last co-op became my first professional full-time job. It also allowed me to work less during school semesters, and get the grades needed for grad school.
Will your parents cosign for a student line of credit? That’s what I used to pay for university.
It’s very clear on the osap site the maximum income a h
They can sign something stating that they will not finically support you.
You shouldn’t really rush into post-secondary.
What you could do is work and take the occasional class at a community college to see if you like it. These aren’t too expensive and there are plenty scheduled for after-hours to accommodate the working crowd.
Why wouldn’t OSAP give you loans?
Do a coop program.
If you don’t have a job. Get one.
If you have a job goto the bank and get financing that way.
If the bank won’t approve you you might need to put school off and save up to go later.
Dick move by your parents
Do you have an rrsp account? You could take some money out of it tax free as llp to fund your tuition.
Call OSAP, explain your situation and ask if they can qualify you as an individual student to get around this.