What is OSAP and when and how do you apply for OSAP?

OSAP is the Ontario Student Assistance Program — Ontario’s provincial student loan provider. Other provinces have their own systems (StudentAidBC, for example), but they all operate fairly similarly. You apply for a student loan, and you’re “assessed” for a certain amount of money, based on your income and finances. This loan is generous for students, with more forgiving repayment terms than a bank might offer, but the money still needs to be repaid.