PSA: pay off the Ontario portion of your OSAP (currently at 7.45% interest)!!!

[keeley120]

@anaparti on my NSLSC webpage I have two

Canada Student Loan #### $$$$

Canada-Ontario Integrated Student Loan #### $$$$

When I click the Canada loan, I see only federal portion of funds

When I click integrated, I see only provincial portion of funds. It says Canada Loan amount 0$, Ontario loan amount $$$$

Maybe this is different for others, I assumed that this was a quirk of the age of my loans since I've always had them listed separately.

 

[avivah]

@keeley120 All Ontario loans issues after 2001 were integrated loans (Canada-Ontario loans in one). But sometimes these loans are split afterwards. For example, there's some programs which applies to federal and not ontario and so the loan is split (federal to the canada only loan, ontario to the canada-ontario loan) . Or, if your loan was far in arrears and sent to government collections when it's brought up to date it comes back to NSLSC split.

 

[keeley120]

@avivah Huh, I never went into arrears but I do remember being sent to collections while on RAP in error. It was sorted out very quickly, happened when I was laid off in 2017 from a part time job and I applied for RAP but they said I was 5 months behind after that. Maybe that's what did it? I had gotten no letters but got a phone call from an agency then called NSLSC and they fixed it very quickly for me.

 

[avivah]

@keeley120 Arrears is just one of many situations where a loan can be split. Provincial and Federal governments don't always agree on policy, so when there's a conflict sometimes the integrated loan is split so the benefit can still be applied to the portion that allows it. I just wanted to point out its typically an administrative action & not the norm.

 

[exegesis]

@keeley120 I got mine in 2011. I only have the one Canada-Ontario Integrated link. It looks like

Canada loan amount owing: $$

Ontario loan amount owing: $$

And then a line for each with the interest rates

I wish it was split, that would be so much easier. Gonna have to dig through my papers to see if I even have any cheques