Can I apply for an OSAP loan during a consumer proposal?
If I wish to go back to School to get a Degree, can I still apply and receive OSAP loan(s) though I am still undertaking a Consumer Proposal? (Note: No previous student loans outstanding or unpaid)
Posted from: Ontario
There is nothing in the Bankruptcy Act that prevents you from applying for OSAP and returning to school with an active consumer proposal. OSAP will usually check with your proposal Administrator to confirm there are no student loan debts that form part of your consumer proposal. They may also check to make sure that you are up to date with your payments in your consumer proposal, as well as confirming details about your payment history.
Many individuals that have had to file a bankruptcy or consumer proposal find that returning to school can help them get a fresh start with the potential for higher earnings after school is completed. We wish you luck with your studies.