How can I contribute to paying a portion of my 2 daughters’ Ontario student loans which will best benefit them?

I am interested in paying off a portion of my 2 daughters’ educational loans which they received through the government of Ontario’s assistance program known as OSAP. They both have OSAP loans; the elder for a college diploma, the younger for a university degree. One daughter is not working due to the job market, the other will graduate soon. Will my generosity actually jeopardize my daughter who is not working, as she does not have to pay until she gets a job? And what about my other daughter who is married and whose husband is going to take 2 more years for a Master’s Degree financed through OSAP? Would it affect his chances of qualifying for a loan?

Contact OSAP directly or check the website for the information you require – check the link below.

It might be better to put the money in a income earning account of some sort until their OSAP loans come due and payable, are consolidated and a payment schedule is put in place. THEN the income bearing accounts can be dissolved and the funds applied directly to the principal of the loan.