In answering your question, let me cite here one of my earlier answers:

 

You are allowed to take the OSAP loan if you have no other alternative– provided you are sincere in your intention to pay it back without incurring interest according to the best of your ability.
In order to make this happen, you should take only the absolute minimum amount that is needed which you would be able to pay off within the allowable time period. If you sincerely work and ask Allah’s help you would be able to do so. I know many students who had been there; they did manage to pay the loans back without involving any interest whatsoever through hard work and firm commitment to do so with the help of Allah.

 

The way they achieved this was that while being enrolled in their full time studies, they also secured part-time jobs (such as security guards or in the library, etc.) which did not interfere seriously with their studies; besides this, they also made use of full-time summer employment.

A still better alternative is to try to get a stipend or bursary, which is not at all impossible to obtain if you are diligent in your academic work.

 

The Prophet, peace be upon, taught us that whoever wishes to keep himself chaste, pure and free from sins, Allah will surely help him to do so. So formulate sincere intention to avoid interest payment, and work hard and seek help from Allah, Allah will help you. Allah says, “Whoever fears Allah, Allah will surely make things easy for him/her.” (At-Talaq 65: 4)

 

To conclude: If you tried your best to keep the loan to a minimum and strove to pay it within the period you have done what is possible for you; if, for reasons beyond your control or means, you could not pay all of them on time, then Allah knows your circumstances; so ask forgiveness of Him, for He is Forgiving and Merciful. I wish you all the success in your studies. Pray to Allah always making use of the following supplication:

 

Allaahummaaghninee bi halaalika an haraamikawa bi ta’atika an ma’siyatikawa bi fadlikaammansiwaaka

 

(O Allah, make me self-sufficient with that which is halaal (lawful) so that I am not compelled to go for what is haraam (unlawful); make me self-sufficient with obedience to You so that I am not led to disobedience; make me self-sufficient with Your favor so that I do not need to look to favor from others!)