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I just graduated in April and I am continuing school in a post-graduate certificate program that is not eligible for osap. So I need to pay upfront. That, with new car expenses will be a lot of money. So I want to extend my grace period for osap in October (once my automatic 6 month grace period is up).

Before I do that however, I would like to make a lump sum payment of about $5000 that I have in my savings. I know that interest accumulates so I want to at least decrease the interest by lowering the amount I owe. Will they allow me to ask for an extended grace period after having seen that I was able to make a large payment of $5000. Would my request not be accepted if I choose to do that and will they make me start paying monthly while still doing school part time?

Basically can I make a single lump sum payment before or during my requested extended grace period?

Thanks!
 
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