Maintaining your ᾮinterest-free statusᾯ means that you do not have to repay your loan while you are in school, and that the Government of Canada and/or the Province of Ontario will continue to pay the interest on your loan.
If you do not keep your loans in interest-free status, you will be required to start repaying your loan(s) within six months of the end of your last study period.
How do I maintain interest free status?
You need to complete the electronic Continuation of Interest-Free Status form.
- Log on at using your OAN & password. Scroll down and click on the Continuation of Interest-free status link.
- Complete the required information & submit.
- The information will then be electronically forwarded to your lender and/or the (NSLSC).
Who can maintain interest free status?
- Students who are beginning a co-op work term.
- Students who have previous OSAP loans and who plan to continue their full-time studies without receiving OSAP.
Note: Students with an OSAP loan who are enrolled in a program, or who are continuing full-time studies with a new OSAP loan, will automatically maintain interest free status.