Headlines
Business Office
Government Loan (ie. OSAP, BCSAP, etc.) Students and Tuition Fee Payments
Jan 25/13
The OSAP funding release process and payment procedure has changed!
Check your 2012 - 2013 OSAP status on your LORIS account after 4:30 pm on Monday January 7, 2013
- What can I direct to the school?
- How do I change OSAP redirect?
- Can you show me examples with OSAP?
- What about my late fees?
- I just got a deregistration notice!
Students who are awaiting OSAP are required to pay all fees not being directed to the university by the due date of each term. For those who have opted to send their funding directly to the school, this will also include any difference that is not covered by OSAP.
ATTENTION: The Student Awards Office may only redirect
the federal and provincial loan and federal grant portions of OSAP
funding to the university to pay outstanding fees which include:
1. Canada Student Loan
2. Canada Study Grant
3. Ontario Student Loan
The Student Award Office may not redirect the following funding for fee payment purposes:
1. Ontario Tuition Grants
2. Ontario Access Grants
Late payment fees* will be assessed on all student accounts, including those awaiting OSAP.
To be eligible for late payment fee* reversal, OSAP students must have the following steps completed:
- Pay any balances exceeding the amoutn of OSAP received (the difference not covered by OSAP) by the due date indicated on your invoice
Fall Term: August 20, 2012
Winter Term: January 11, 2013
Spring Term: May 20, 2013
Confirmed students will receive their funding electronically to the bank account specified on their MSFAA (or to their student account if directed) beginning in September (fall term) or beginning in January (winter term).
NOTE: Funding not applied to student accounts by September 30, 2012 (fall term) or January 30, 2013 (winter term) are not eligible for late payment fee adjustments.
Please note that Student Awards will only confirm students who are registered in all courses for fall term and a minimum of 60% in winter term.
ATTENTION: Students, if you have opted out of having your fees automatically sent to Laurier, you will be required to pay any outstanding fall term fees by the due date specified on this invoice. If you do not meet the due date, you will also be responsible for late fees* applied to your account.
To reverse your opt-out decision, E-Mail: studentawards@wlu.ca from your 'MyLaurier' account by August 20, 2012 (fall term) or December 10, 2012 (winter term) in order to have the funds redirected to the university from your OSAP loan.
* Late payment fees are calculated at 1.25% on any balances remaining immediately after the due date
*** THIS SAME PRACTICE WILL OCCUR FOR ALL FUTURE TERMS ***
- Student owes $3,433.21 for fall term and they are receiving $5,000.00 in OSAP funding
- They have submitted all supporting documentation and completed registration by the appropriate OSAP date and have been confirmed by Student Awards
- They have also chosen to have OSAP funding directed to the school
- No payments are required from the student to the school, funds will automatically be applied to the student account and all late fees will be reversed
Example 2:
- Student owes $3,433.21 for fall term and they are receiving $5,000.00 in OSAP funding
- They have submitted all supporting documentation and completed
registration by the appropriate OSAP date and have been confirmed by
Student Awards
- They have chosen to not have these funds re-directed to the school
- Student is responsible for having ALL fees on their student account paid by the invoice due date as well as any applicable late payment fees regardless of when the OSAP funds are received by the student
Example 3:
- Student owes $3,433.21 for fall term and they are receiving $3,000.00 in OSAP funding
- They have submitted all supporting documentation and completed
registration by the appropriate OSAP date and have been confirmed by
Student Awards
- They have chosen to have OSAP funding directed to the school
- To be eligible for late payment fee reversals, student must pay the difference of $433.21 not covered by OSAP by the invoice due date
- OSAP funding directed to the school will automatically be applied to the student account and any late payment fees will be reversed
- Note: If the student does not pay the difference of $433.21 not covered by OSAP by the invoice due date, the student will still be responsible for the late payment fees accrued based on that amount
Example 4:
- Student owes $3,433.21 for fall term and they are receiving $3,000.00 in OSAP funding
- They have submitted all supporting documentation and completed registration by the appropriate OSAP date and have been confirmed by Student Awards
- They have chosen not to have OSAP funding directed to the school
- Student is responsible for having ALL fees on their student account paid by the invoice due date as well as any applicable late payment fees regardless of when the OSAP funds are received by the student
Example 5:
- Student owes $3,433.21 for fall term and they are receiving OSAP funding
- Supporting documentation or appropriate course registration was not met by the specified OSAP due date for the particular term
- or, funding is applied to your account after September 30
- Student is not eligible for late payment fee reversals
OSAP & DEREGISTRATION
OSAP students who have been approved for, but have not yet received funding may be exempt from deregistration provided that the following criteria have been met:
- The student has opted for the funding to be sent directly to the school to be applied against the outstanding balance
- The difference not covered by OSAP has been paid in full
- Student Awards has confirmed that the student has submitted all documentation and are registered in all fall term courses and a minimum of 60% in the winter term
- Sent a copy of your OSAP funding assessment (see example below in "related documents") outlining the amount you are expecting is enough to cover your fees outstanding to the businessoffice@wlu.ca by the last due date prior to deregistration
If you have opted to not have OSAP funding directed to the school, all fees must be paid by the deregistration date.
| Related Information | Title | Type |
|---|---|---|
| 2013 | OSAP Funding Summary (Example) | Document |
