Getting Your OSAP

Three students sitting outside

After you apply for OSAP and submit all of your required documents, here is what you can expect:  

Confirmation of Enrolment

  • 10 business days before the start of the term, we will automatically begin to confirm enrolment if your application is complete. 
  • Your registration status must be registered on ACORN.
  • Your academic information on ACORN must match your OSAP application. This includes: program of study, level of study, and enrolment in a minimum course load. Waitlisted and interim courses are not counted toward your total course load. 

If your information has changed, download the Financial Aid Change Form and uploading it directly to your OSAP account.

When Funding is Released

  • 7-10 business days after your enrolment is confirmed, your funding will be distributed to the university to pay any outstanding fee balance on your ACORN account for the current term or session. Any leftover amounts (i.e., a credit balance) will be disbursed into your bank account. 

How Funding is Released (Full-time Students Only)

Funds are released twice per year

  • If you are studying in the Fall and Winter, your total funding will continue to be released in two instalments:

    • 60% of your total OSAP funding in the Fall

    • Remaining 40% in the Winter term

  • If you are studying for only one term, 100% of your funding will be released once your confirmation of enrolment is complete.

OSAP Instalments

  • Your OSAP instalment will be credited toward unpaid student fees first. This amount is paid directly to your University of Toronto student account.
    • Unpaid fees includes: any outstanding fees owed to the University, and fees for the upcoming session (tuition, residence, incidental or ancillary fees). 
    • Your OSAP instalment is used to pay only unpaid fees. In the event that you paid your fees in full, no OSAP funds will be directed to the university. 
  • If your Fall OSAP instalment is greater than your Fall term tuition fees:
    • The National Student Loan Service Centre will deposit the remaining amount into your personal bank account.
    • This will occur 4-10 business days after the university confirms that you are registered in a full-time course load. 
  • If you are studying in the Fall and Winter term, this payment process will repeat in January for your second instalment.
    • U of T will check your full-time registration
    • Your second OSAP instalment will first be credited toward any unpaid Fall term fees, and owing Winter term fees. 
  • If you were awarded additional OSAP funding through an appeal:
    • Payment will be applied in the same way: it is first credited toward your tuition and fees first before remaining amounts are refunded to you.

If You are Receiving OSAP and a U of T Award/Scholarship  

  • Awards and scholarships are released to students in the Fall, usually late September or early October.  

  • Review your detailed invoice to monitor when the amount that has been applied to your account. 

  • Award values are first applied to outstanding fees. Any remaining funds, if applicable, will be refunded to you automatically. Opt into the direct deposit option by entering your personal bank information on ACORN to receive a refund. This is the safest, quickest, and most efficient way to receive your funds. While you're at it, update your mailing address as well!

  • As your award is not listed under the Net Cost tab, your invoice remains the primary and official statement that confirms your owing balance, credits, and eligible refund amounts.

How Much is Being Released and When?

Monitor your OSAP funding online.

  • Login to the OSAP website, and click "Check Status", then "View Payment Schedule" for status updates regarding your loan, your total funding assessment, and confirmation of when and how much funding will be credited directly to your ACORN account. Example can be found in the image below:


Screenshot of OSAP payment schedule example


Your Net Cost Amount on ACORN

What is Net Cost? 

  • Simply put, net cost is your remaining tuition balance that you are responsible for paying out of pocket if OSAP is your only source of financial aid.

ACORN's Net Cost feature will display important information for full-time OSAP students. This includes:

  1. Tuition & Fees: Your U of T tuition and fee charges.
  2. Anticipated OSAP: the amount of OSAP funding that will be paid directly to your student account.
  3. Received OSAP: confirmation of the total OSAP amount credited to your ACORN account
  4. Net Cost: this amount indicates whether there is a remaining balance that you will need to pay out of pocket. You can view your annual net cost for your combined Fall and Winter owing balance, or by term (i.e., two separate amounts for each Fall and Winter term.)
Screenshot of Net Cost feature on ACORN

The Net Cost feature is available only for students receiving full-time OSAP, and excludes University of Toronto awards or financial aid, the Ontario Living OSAP grant, the Learning Grant (for Crown Wards only). Part-time students will not see a net cost option on ACORN.