Can I collect both a LOC and OSAP?
February 22nd, 2012
Does anyone no if I Can still receive osap if I got a student line of credit. My Line of credit int going to be enough to cover all my expenses and I heard a story that You cant but I haven’t seen anything to verify it.
Of course you can get both!OSAP is based on your assets and your income.A student line of credit is neither – it is a loan.So OSAP doesn’t care about your LOC.They don’t ask any questions about it and you don’t give any info about it.
Just make sure you get a line of credit and NOT a loan.If you get a loan, the bank puts money into your bank account– now OSAP says you have "savings" and it WILL affect your funding.
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