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Balance Forward

 
Old 08-09-2011 at 04:04 PM   #1
Jason036
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Balance Forward
So I applied for OSAP awhile back and I recently went to agree to the payment agreement.

In box 5 it lists OSAP and beside it has approx $4800....which is not enough to cover my entire tuition. Is this the amount that OSAP is for sure releasing to me? Last year I received about $6700 and I worked more than I did this past year.

My balance forward is $1600 approx, so is this what I owe for this year by September 1st?
Old 08-09-2011 at 04:11 PM   #2
jhan523
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Quote:
Originally Posted by Jason036 View Post
So I applied for OSAP awhile back and I recently went to agree to the payment agreement.

In box 5 it lists OSAP and beside it has approx $4800....which is not enough to cover my entire tuition. Is this the amount that OSAP is for sure releasing to me? Last year I received about $6700 and I worked more than I did this past year.

My balance forward is $1600 approx, so is this what I owe for this year by September 1st?
It's the first instalment, the second instalment comes in January.

Yes, the balance forward is what you owe. If you are paying in full then that's what you have to pay by September 1st. You can verify in Box 6, it shows the minimum payment schedule you have to follow.
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Jason036 says thanks to jhan523 for this post.
Old 08-09-2011 at 04:37 PM   #3
Jason036
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Oh ok...so I would just use that first installment money to pay for the $1600?
Old 08-09-2011 at 04:46 PM   #4
jhan523
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Quote:
Originally Posted by Jason036 View Post
Oh ok...so I would just use that first installment money to pay for the $1600?
It sounds like you are already deducting your first instalment from your tuition based on what you told us about Box 5. Whatever it says in Box 6 is what you have to do out of your own pocket.
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Jeremy Han
McMaster Alumni - Honours Molecular Biology and Genetics
Pennsylvania College of Optometry at Salus University Third Year - Doctor of Optometry



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