OSAP Repayment Lowdown

Hi there:

I am posting this thread so that I may gain some insight on personal finance with regard to OSAP repayment plans and any help would be much appreciated.

I have worked consistently throughout my fours years of study in conjunction with receiving OSAP. Because I worked so much I would not receive too much OSAP -- which was ok for me because I was still able to pay my fees with the money I earned. I primarily joined OSAP because I was eligible for several bursaries which helped me pay for tuition, books etc throughout the years. I also chose to work because I wanted to ensure that I would be financially responsible and be able to pay off OSAP once my studies were over.

As a result I owe $8785.00 -- Principal Balance. I have $4000 of this already in my bank. I am toying between paying a huge lump sum - $3000 or sticking with the monthly plan option -- since interest is tax deductible. I have plans to join school again next September (not confirmed yet) but would really like to pay off my undergrad before accumulating more loans.

Any help would be much appreciated.