Since I'm getting an external scholarship, the amount has been deducted from my balance forward. But accordign to the scholarship fund, my cheque will come in the mail mid september to my home address so I was wondering if Mac will charge me the late fee if I hand them over the money as soon as I get my cheque in the mail.

I think it would be better if you pay off the first installment, and deduct the external scholarship amount from the next installment, that's if you're chosing to pay per semester. If you choose monthly, that might be a different story. What payment methods did you choose?

Also, the interest doesn't stary adding up till the end of the month. But the late fee will most likely apply in your case :(. I would call the Financial office just to be sure though

I'm paying by installment so I have a minimal first installment to pay after osap, my mcmaster scholarship and external scholarship are deducted. The late fee is minimal tho so I guess its nto that bad.

thanks

How much OSAP are you getting including your McMaster scholarship? If its enough I suggest you cover your first installment with that then use the external scholarship to pay off some or all (depending how much it is) of your second installment.