Period of Study End Date
OSAP, NSLSC, and Period of Study End Date webinars are back!
We are moving away from live sessions to pre-recorded video sessions! This webinar will introduce students to the National Student Loans Service Centre (NSLSC), what “Period of Study End Date” means, and how to maintain interest-free status on OSAP. To access, use passcode OSAPNSLSC23! for the OSAP, NSLSC, and Period of Study End Date recording (external link, opens in new window) . The video link will expire on February 28th, 2024. The webinar transcript is available at (google doc) OSAP, NSLSC, and Period of Study End Date transcript (external link, opens in new window) .
At the end of every study period, the National Student Loans Service Centre (NSLSC) sends Period of Study End Date communications to students. Period of Study End Date refers to the last date in which a student was enrolled in studies at Toronto Metropolitan University (TMU) and accessing either OSAP, a Continuation of Interest-Free Status (CIFS) application, or a Schedule 2.
This is separate from graduation/convocation. NSLSC Period of Study End Date does not mean that the student withdrew or completed their degree/certificate.
All OSAP students experience Period of Study End at the end of every academic year or semester in which they access either OSAP, a Continuation of Interest-Free Status (CIFS) application, or a Schedule 2.
Following the Period of Study End Date, students enter a six month Non-Repayment Period (Grace Period) with the NSLSC.
During the Non-Repayment Period (Grace Period)
- Students are not required to make loan payments
- Provincial loans start accruing interest the next calendar month following your study period end
- Federal loans do not accrue interest. The federal government has eliminated interest on federal student loans effective April 1st, 2023.
Towards the End of the Non-Repayment Period (Grace Period)
Students receive a digital Consolidated Loan Package via their online NSLSC portal.
This package explains their financial obligations, repayment options, and how to maintain interest-status on their student loans if they are continuing studies.
If a student returns to studies within the six month period, interest is waived and they do not enter repayment as long as they re-apply for OSAP, CIFS, or a Schedule 2.
Example: Students with previous full-time OSAP up until the winter 2023 semester
- Received full-time OSAP funding / had a CIFS approved
- Returning to studies full-time in the upcoming fall 2023 semester
Your interest will be waived from the end of winter 2023 term to the start of the fall 2023 term only if you apply for either full-time OSAP or a CIFS application.
Example: Students with previous part-time OSAP up until the winter 2023 semester
- Received part-time OSAP funding / had a Schedule 2 approved
- Returning to studies part-time in the upcoming fall 2023 semester
Your interest will be waived from the end of winter 2023 term to the start of the fall 2023 term only if you apply for either part-time OSAP or a Schedule 2 application.
To find out more about maintaining interest-free status, please visit our web page on maintaining interest-free status.
Note: Interest-free status applications can be submitted as early as 15 days before the start of the semester in which you will begin studies. For example, if you will begin studies in September, you can begin submitting your interest-free status application in late August.
Early applications will be declined, and you will be responsible for resubmitting within the application period and deadline dates.