Can i use my unused tax credits to pay off my osap?

Question

i have unused tax credits from my tutioin.. can i use it to pay off my osap?

Answer 1

If the tax credits are unused, then you can choose to carry them forward to the next taxation year and use them to offset any earned income.  If that results in an income tax refund of cash, you can use the cash to pay off your OSAP.

Answer 2

No...Credits in Canada are just that , credits

They can reduce your tax burden but have no monetary value

Answer 3

The unused tuition and education amounts that show up on your Notice of Assessment are not transferable to the Canada Student Loan corp, not to any equivalent provincial organization. These are credit that can reduce your income tax payable in future years, most often creating or increasing a refund.

If in the future you default your student loans, the refund can be taken to pay down your balance.