Money!!!

[Hills]

The new OSAP application is now available!

I'm at the section where it asks if you want OSAP to pay your fees to the school or not. aka. a 'Redirection of OSAP funding'.

I'm not sure what to say. Does everyone just put yes here? I would think that it would generally be better for OSAP to pay you directly so that you can make your own financial decisions. The only benefit might be that the school will defer your payment (until OSAP is released) if you allow OSAP to pay them directly.

Does anybody have experience dealing with this?

[vanillabear]

Has anyone had any luck in trying to negotiate a cashback credit card instead of a travel rewards card with an LOC? It'll probably be more useful, I think.

[rmorelan]

Originally Posted by vanillabear

Has anyone had any luck in trying to negotiate a cashback credit card instead of a travel rewards card with an LOC? It'll probably be more useful, I think.

well they hand those out actually often as the default

[vanillabear]

Originally Posted by rmorelan

well they hand those out actually often as the default

hmm so I know CIBC has a 2% Cashback Dividend (Infinite VISA) card... is that unheard of?

[PhoenixFlare500]

Originally Posted by vanillabear

Has anyone had any luck in trying to negotiate a cashback credit card instead of a travel rewards card with an LOC? It'll probably be more useful, I think.

I'm with Scotiabank, I pay $40 for a 1%/2% (groceries and gas) cash back VISA. I tried to lower the price, they wouldn't let me.

[KMMD]

Just a question about OSAP - it asks about income in the estimator. What exactly is considered income? It mentions that monetary gifts are considered income but was exactly is a monetary gift? Would this be money directly given to me or if someone were to pay my tuition or part thereof would that be considered income under monetary gifts?

[rmorelan]

Originally Posted by KMMD

Just a question about OSAP - it asks about income in the estimator. What exactly is considered income? It mentions that monetary gifts are considered income but was exactly is a monetary gift? Would this be money directly given to me or if someone were to pay my tuition or part thereof would that be considered income under monetary gifts?

Yeah they have strange rules for all of that. All of what you are describing is technically a monetary gift. Most students actually ignore all that of course and just use income as something that will show up on your income tax as actual taxable income (that just happens to be the only thing the government can actually verify against anyway).

[rmorelan]

Originally Posted by PhoenixFlare500

I'm with Scotiabank, I pay $40 for a 1%/2% (groceries and gas) cash back VISA. I tried to lower the price, they wouldn't let me.

annoying - med students get that card for free by default at scotia. Actually the upgrade is free as well (which is what I have)

[KMMD]

Originally Posted by rmorelan

Yeah they have strange rules for all of that. All of what you are describing is technically a monetary gift. Most students actually ignore all that of course and just use income as something that will show up on your income tax as actual taxable income (that just happens to be the only thing the government can actually verify against anyway).

Thanks - that is what I thought.

[PhoenixFlare500]

Originally Posted by rmorelan

annoying - med students get that card for free by default at scotia. Actually the upgrade is free as well (which is what I have)

That's odd considering I am a med student. They just switched med reps, I'll have to talk to the new one about this. I suppose other banks would offer that deal and I can just threaten to leave?