What does a loan overpayment letter from the National Student Loan Service Centre mean? | OSAP

What does a loan overpayment letter from the National Student Loan Service Centre mean?

An overpayment is an amount of funding that you were not entitled to receive and must repay. An overpayment typically occurs when the Ministry of Colleges and Universities (MCU) has reassessed your application and has determined you are no longer eligible for the amount of funding you initially received.

This may occur for various reasons, including:

• your income changed and was not updated.
• you withdrew from your program or your course load changed.
• there is a discrepancy between the income you entered on your OSAP application and the income information from the Canada Revenue Agency.

If you would like to repay a payable loan overpayment, please contact the National Student Loan Service Centre at 1-888-815-4514.

Once you have repaid your overpayment, you must:

• provide proof to the Financial Aid Office at theservicehub@senecacollege.ca so that your account is updated, and any restrictions are removed.
• upload your Loan Statement issued by the NSLSC to your OSAP application under “Optional Uploads.” You can access this statement online through your NSLSC account.