OSAP: The Ontario Student Assistance Program (OSAP) is a financial aid program that can help you pay for college or university. OSAP offers funding through grants: money you don’t have to pay back and a student loan: money you need to repay once you’re done school. When you apply for OSAP, we automatically consider you for both grants and loans. If you don’t want to take a loan, you can decline it after your application is approved. There are also programs to help you repay your student loan once you’re done school.