Once your student has graduated from high school and enrolled at York University, you can request, on his or her behalf, to withdraw money from the RESP to help pay for their studies. When you withdraw government payments or interest earned from an RESP account, that money is called an Educational Assistance Payment.
To withdraw money from an RESP, contact your RESP provider. They will ask to see official proof of enrollment before issuing the Educational Assistance Payment.
A student can request that York University provide a Verification of Enrolment and Registration Letter for submission to your RESP provider. Before students can obtain a letter to have your RESP funds released, students must be registered in their courses and have paid the $300 registration deposit. The Registrar’s Office offers more information about RESP Verification Letters.
For more information, see the Government of Canada's Using Your RESP website.
The Ontario Student Assistance Program (OSAP) is an application-based government aid program for Ontario resident students. Based on the government's assessment of your educational costs and expected financial resources, OSAP offers a mixture of repayable loans and grants (money you will not need to repay).
The Ministry of Advanced Education and Skills Development is encouraging students to apply for OSAP for the 2017-18 academic year. To help them with their applications, the Ministry created a helpful ‘How to Apply for OSAP’ video that provides a simple overview of the application process.
The information on this site is primarily for full-time York University degree students applying for OSAP aid, but we also have helpful information for certificate students, exchange students and non-degree students. The Student Financial Services site has information about part-time loans and grants.