dear Aska,
This question is related to student loans. OSAP allows 6 months after your full-time studies before dropping a load of interest on top of your principal debt. Normally this allows you to not study every second semester, without interest.
But consider the summer. Suppose you take the three courses you need to be considered full-time. Q1) If they are all F-section courses, does your ‘full term period of study’ end in July or August? Q2) If it ends in July, does that mean you can’t not study next fall semester without paying interest? Q3) How could you know these things anyway?
Your immediate reply is very much appreciated!
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hey there,
i know this reply isn’t as ‘immediate’ as you probably hoped, but i did tell you i’d be away, dude! anyway, hopefully this answer will still be useful to you.
basically, if i’m understanding you correctly, you’re asking about doing 3.0 FCEs one fall, not doing any courses in winter or summer (to go off and party it up or sum shizzle i know how y’all are), and then going back the next fall. that means you would not be in school for eight months, so Q1) your grace period ends in July and Q2) yes, you’d have to start making payments in July, though you’d only have to make them for July and August before going back to school for September.
as to Q3) i know because i work in an office that’s responsible for knowing these kinds of things. i haven’t for the life of me been able to find that specific information on the tragedy that is the OSAP site, but please feel free to contact them?if you wanna double-check what i’m telling you. they also might be able to let you know about any possibility of alleviating or even eliminating those two months’ worth of payments in the summer, which they can sometimes do if there are extenuating circumstances.
good luck and toodles,
aska