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Help with OSAP and RESP

A photo of MrXY MrXY
Hi everyone, currently, I do not have a job, and this income stated is purely based on my RESP. The RESP is giving me my principal amount (5400) during the first week of August through direct deposit. So when doing my application have I filled this out right?

Total gross income from Jan 1/11 to Dec 31/11: $5,400
Total gross income from Jan 1/11 to Jun 29/11: $0
Total gross income from Jun 30/11 to Sep 11/11: $5,400

Later it asks:
Income Received During Study Period Sep 12/11 to Apr 28/12

Will be receiving scholarships, bursaries and awards: No (I will be receiving an entrance scholarship and bursary apparently so when should I contact them to change this? Or will they do it themselves?)
Income Received from RESP, Scholarship, Trust Fund, or other education savings plans No

I wrote no income received from RESP above because it says income received DURING STUDY PERIOD, is that what I was supposed to do since I'm receiving the RESP during the first week of August? Sorry about the long post and thanks in advance!

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4 replies
A photo of Hammyter Hammyter
i have the same question cuz i put $0 also. since my RESP is maturing in January 2012 and i dont plan on taking any out until 2nd year. the value of my RESP is around 25k and will probably be taking a few thousand out after first year.
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A photo of MrXY MrXY
Yes but when it defines income it says to include Cashed-in RESP's so wouldn't it go under the gross income? And I put no for the scholarships because someone told me Western would notify OSAP themselves later because I do not know how much I will be receiving yet, depends on if I get above or below 90%. And for the bursary I didn't know how much I'd get either, or if I'd get any at all for that matter. But for the Bursary I think I'll contact OSAP to find out whether I should report it or not.
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