Students owning bikes & Osap

[Macs]

Forum Sponsor

Nope, they don't. Not getting into my personal life on here, but no matter what your situation is, if you haven't been out of HS for 4 years, your parents' income counts. So does yours. Financial aid actually said if I stopped working I'd receive more OSAP funding.

 

[LoneRonin]

Specially when people that need to work full time with a full course load with no parental assistance get nothing...

do you even know OSAP works before you go off talking ****?
https://osap.gov.on.ca/OSAPPortal

you're hating on the dude because he decides to be in school and collect OSAP?? Its his choice, because when he's done he'll be paying it back with interest...
Just about everyone is entitled to something but they don't just mail it out, you have to apply for it.

 

[Joe250]

do you even know OSAP works before you go off talking ****?
https://osap.gov.on.ca/OSAPPortal

you're hating on the dude because he decides to be in school and collect OSAP?? Its his choice, because when he's done he'll be paying it back with interest...
Just about everyone is entitled to something but they don't just mail it out, you have to apply for it.

Apparently you can get $12k for a year, looking at the repayment section: "

Ontario caps your OSAP student debt at $7,300 for a two-term academic year through the Ontario Student Opportunity Grant. No matter how much you borrow at the beginning of the year, your repayable amount of OSAP will be no more than $7,300 for each year of study."
​

$5k free money you never have to pay back per year sounds pretty sweet.

And I didn't qualify for anything, so I worked full time at Timmies nights while I went to school during the day, only used line of credit for books and tuition, if I got 12k a year and only had to pay back 7k I'd just save the 12k, pay off tuition and books then repay the 7k back right away.

 

[Macs]

do you even know OSAP works before you go off talking ****?
https://osap.gov.on.ca/OSAPPortal

you're hating on the dude because he decides to be in school and collect OSAP?? Its his choice, because when he's done he'll be paying it back with interest...
Just about everyone is entitled to something but they don't just mail it out, you have to apply for it.

How about you go **** yourself and read my post. I was bitching about the system that provides people that don't need expendable cash with thousands of dollars worth of disposable income, while those of us in expensive programs with jobs get the shaft (less than $7000) and need to be up 20 hours a ****ing day in class and at work. I couldn't even tell you the layout of my dorm room. I apply for every bursary I can get and I have a scholarship. There are weeks that I live off 25 cent ramen noodles for 3 meals a day so I can pay this or that. If one day the Registrar's Office decides it wants everything up front, I need to leave university.

 

[giesen]

How about you go **** yourself and read my post. I was bitching about the system that provides people that don't need expendable cash with thousands of dollars worth of disposable income, while those of us in expensive programs with jobs get the shaft (less than $7000) and need to be up 20 hours a ****ing day in class and at work. I couldn't even tell you the layout of my dorm room. I apply for every bursary I can get and I have a scholarship. There are weeks that I live off 25 cent ramen noodles for 3 meals a day so I can pay this or that. If one day the Registrar's Office decides it wants everything up front, I need to leave university.

Amen to that. I remember one month I ate nothing but $.49 store-brand KD, 3 meals a day because that's all I had money for when I went to school. It's sickening that some people can buy a luxury such as a motorcycle with taxpayer money when others have such a hard time affording just to go to school.


Sent from my iPhone using Tapatalk

 

[giesen]

do you even know OSAP works before you go off talking ****?
https://osap.gov.on.ca/OSAPPortal

you're hating on the dude because he decides to be in school and collect OSAP?? Its his choice, because when he's done he'll be paying it back with interest...
Just about everyone is entitled to something but they don't just mail it out, you have to apply for it.

The reason for the hate is a) who do you think pays the interest and guarantees the loans while they are on school (us), and b) because people who need OSAP can't get it but someone who clearly doesn't need it can.


Sent from my iPhone using Tapatalk

 

[mimico_polak]

The reason for the hate is a) who do you think pays the interest and guarantees the loans while they are on school (us), and b) because people who need OSAP can't get it but someone who clearly doesn't need it can.


Sent from my iPhone using Tapatalk

+1....I worked my *** off during the year so that I could have no debts when I graduated from Ryerson. Mind you I also lived at home because the very thought of owing $ at the end of four years made me sick. The system is there for those that actually NEED the money so that they can be able to go school instead of spending the money on toys and vacations simply because they know how to cheat the system.
OSAP should pay the money directly into the schools account, or provide the cash following the presentation of receipts for approved purposes.

 

[Torren]

The reason for the hate is a) who do you think pays the interest and guarantees the loans while they are on school (us), and b) because people who need OSAP can't get it but someone who clearly doesn't need it can.

This.

OSAP should pay the money directly into the schools account, or provide the cash following the presentation of receipts for approved purposes.

You should have to have receipts for school related expenses on hand for review at the end of the school year. Any monies not accounted for should be due immediately. Can't get more OSAP next year without.

 

[Macs]

That already exists, OSAP deposits tuition directly to the school, and gives you what's left over. The problem is they regularly hand out 10-12k to snotty brats who've never worked a day in their life and have no savings, and **** around anyone who's planned ahead for school.

 

[Amazon]

That already exists, OSAP deposits tuition directly to the school, and gives you what's left over. The problem is they regularly hand out 10-12k to snotty brats who've never worked a day in their life and have no savings, and **** around anyone who's planned ahead for school.

So true, I read a post on friends facebook wall saying she got so much OSAP she's going to go to Disney world with the money. OSAP only gave me $700, the rest I'm working for, which is why I'm bikeless for a few years now with the exception of demo rides and people lending me their bikes.

 

[iegod]

do you even know OSAP works before you go off talking ****?
https://osap.gov.on.ca/OSAPPortal

you're hating on the dude because he decides to be in school and collect OSAP?? Its his choice, because when he's done he'll be paying it back with interest...
Just about everyone is entitled to something but they don't just mail it out, you have to apply for it.

He's hating on the dude because he's getting money for school and not using it for those purposes, while those who legitimately could use it for those purposes may be denied on the grounds that are unrelated to their economic situation. I too worked during school to help out and every dollar I made worked directly against me in terms of OSAP funding. It's as though I would have been better off economically to just sit on my ***. But I didn't, because I valued that work experience.

Furthermore, a lot of students are eligible for the student debt forgiveness/assistance program which knocks off a considerable amount from your overall repayment. They knocked off something like $500 for me and I was incredibly grateful, but hearing people take advantage and then get forgiven is total bulls h it.

 

[knowledge]

He's hating on the dude because he's getting money for school and not using it for those purposes, while those who legitimately could use it for those purposes may be denied on the grounds that are unrelated to their economic situation. I too worked during school to help out and every dollar I made worked directly against me in terms of OSAP funding. It's as though I would have been better off economically to just sit on my ***. But I didn't, because I valued that work experience.

Furthermore, a lot of students are eligible for the student debt forgiveness/assistance program which knocks off a considerable amount from your overall repayment. They knocked off something like $500 for me and I was incredibly grateful, but hearing people take advantage and then get forgiven is total bulls h it.

This. The system's rigged so that you're either a broke student, or you're a broke student with debt. You get penalized for wanting to work and having some spending and/or expense money.

I didn't qualify 'cause I had a car. But I don't believe that under $3000 exception existed back then.

As for everyone ragging on the guy: while I don't agree with using OSAP to buy luxuries, I don't think that it should just be for school. It's a loan with no interest for a couple of years. I have friends that have taken their OSAP and invested it. They paid it back and then some...so it's really just a matter of how you use it. And the people abusing it don't make it less likely for the people who do need it, to get it...so imo no harm, no foul.

 

[Xyrus]

This. The system's rigged so that you're either a broke student, or you're a broke student with debt. You get penalized for wanting to work and having some spending and/or expense money.

I didn't qualify 'cause I had a car. But I don't believe that under $3000 exception existed back then.

As for everyone ragging on the guy: while I don't agree with using OSAP to buy luxuries, I don't think that it should just be for school. It's a loan with no interest for a couple of years. I have friends that have taken their OSAP and invested it. They paid it back and then some...so it's really just a matter of how you use it. And the people abusing it don't make it less likely for the people who do need it, to get it...so imo no harm, no foul.

Amen. OSAP will bite those in the *** who think it's free money - sooner or later. I came across this thread with the same question as the OP. Glad I found some useful information. I have a truck and a cbr125 (both probably less then $3000 in total), but OSAP accepted me. Regardless, I'm selling the truck and my beloved race bike because I don't wanna owe them a dime in interest.

 

[vinehanger]

To answer the OP's question, OSAP allows you to own a vehicle (car, motorcycle, etc) that is up to $5000 in value. They consider anything more than 5k as a luxury, and therefore will not provide any assistance. I had to remove the car I owned at the time (it was worth about 15k) to my mom's name and reapply. When I did that, I was approved (I also had a 250r under my own name that I kept in my name).

 

[syncro]

OSAP = Ontario Suzuki Acquisition Program

That's jokes

 

[ScorpioCBR16]

Hi thanks for answering my question.

To answer the OP's question, OSAP allows you to own a vehicle (car, motorcycle, etc) that is up to $5000 in value. They consider anything more than 5k as a luxury, and therefore will not provide any assistance. I had to remove the car I owned at the time (it was worth about 15k) to my mom's name and reapply. When I did that, I was approved (I also had a 250r under my own name that I kept in my name).

 

[Rossi86]

Our tax dollars hard at work, folks.

Right, cause OSAP is free money . The interest students have to pay after school is prime + ~3% so it's not really your tax dollars, it's his money he has to pay up in a few years.

How are people getting this much for OSAP? My OSAP didn't even cover 75% of my Tuition/Residence.

So you want OSAP to basically cover part of your education and your residence for free?! For 2 terms full time funding you only have to pay back ~$7000, for 3 terms ~$10000. If your tuition is $15000/year + ~$10000 for residence and food, so you want $18000 a year for free but you hate on other students cause they get a couple of grand extra?


Get a line of credit dude, National Bank offers a great interest rate (prime only) for students in professional programs.

 

[油井緋色]

This post is gonna set a bunch of people up in arms and probably piss themselves in anger (well, not the students anyway, just the grandpas).

OSAP does not kick your nuts if you have a vehicle valued at less than $5000.
There is no black/blue/whatever book for market value of motorcycles.

What happens when you put the above together? The only way they can get the value of your vehicle is whatever you report to MTO. An example is that you buy a CBR1000RR for $9000. You declare, on the bill of sale, you got it for $1. Even dealerships (I've spoken with a few), will help you do this provided you bribe 'em a bit. When you apply to OSAP, you write $1 on total value of vehicles. They will confirm with MTO and because that's what you told MTO too, your CBR1000RR is $1, OSAP does not kick you in the nuts.

NOTE THIS WILL NOT AFFECT INSURANCE PAYOUT AND CARS. CARS HAVE MARKET VALUES.

 

[Major]

This post is gonna set a bunch of people up in arms and probably piss themselves in anger (well, not the students anyway, just the grandpas).

OSAP does not kick your nuts if you have a vehicle valued at less than $5000.
There is no black/blue/whatever book for market value of motorcycles.

What happens when you put the above together? The only way they can get the value of your vehicle is whatever you report to MTO. An example is that you buy a CBR1000RR for $9000. You declare, on the bill of sale, you got it for $1. Even dealerships (I've spoken with a few), will help you do this provided you bribe 'em a bit. When you apply to OSAP, you write $1 on total value of vehicles. They will confirm with MTO and because that's what you told MTO too, your CBR1000RR is $1, OSAP does not kick you in the nuts.

NOTE THIS WILL NOT AFFECT INSURANCE PAYOUT AND CARS. CARS HAVE MARKET VALUES.

Yes, folks. Listen to this pro and scam the system. The new Canadian way.

 

[knowledge]

This post is gonna set a bunch of people up in arms and probably piss themselves in anger (well, not the students anyway, just the grandpas).

OSAP does not kick your nuts if you have a vehicle valued at less than $5000.
There is no black/blue/whatever book for market value of motorcycles.

What happens when you put the above together? The only way they can get the value of your vehicle is whatever you report to MTO. An example is that you buy a CBR1000RR for $9000. You declare, on the bill of sale, you got it for $1. Even dealerships (I've spoken with a few), will help you do this provided you bribe 'em a bit. When you apply to OSAP, you write $1 on total value of vehicles. They will confirm with MTO and because that's what you told MTO too, your CBR1000RR is $1, OSAP does not kick you in the nuts.

NOTE THIS WILL NOT AFFECT INSURANCE PAYOUT AND CARS. CARS HAVE MARKET VALUES.

I just wanna say something so no one takes this guy's advice to its fullest extent. This is a perfect example of the government giving people an inch, and them taking a foot. You know this exists...so why ruin it for everyone by declaring it for a dollar?

Declare it as something reasonable and everybody wins. You still save, regardless. The government still gets a fair bit of money. And this perk can continue to exist. That's less than 150 in taxes if you declare it as 1000. Abusing loopholes like this is what gets **** taken away. You save now, but you ruin it for other people and most importantly, YOURSELF, when you buy your next motorcycle and they've caught on to it.

/rant

Forum Sponsor