I was wondering if someone could inform me if this is possible? Can I take OSAP, check it off on my payment agreement, but still choose the option that allows me to pay my fees in one go? Thanks.

I am not sure if the system will allow you to do that; you can, however, pay all of your fees in one go whenever you want. They won't NOT allow you to pay them, lol.

i have the online application submitted but havent given in all the docs. The OSAP option is available on SOLAR though, so yay for me!

so, now i shud confirm the payment agreement or do i wait until OSAP says 'u iz verified, go aheads with full speed' or something and THEN i confirm the payment agreement?

Just to clarify:

If my application status says

Web App - Submitted, then I'm good for the 15th right? OSAP will appear as a payment option for me?

Originally Posted by lawleypop

Just to clarify:

If my application status says

Web App - Submitted, then I'm good for the 15th right? OSAP will appear as a payment option for me?

i was thinking the same thing......go on SOLAR and check if the OSAP box is check-able, tht shud tell u.....SOLAR isnt burstingly full with ppl right now i think

Originally Posted by dmzz

I am not sure if the system will allow you to do that; you can, however, pay all of your fees in one go whenever you want. They won't NOT allow you to pay them, lol.

"Pay your fees in one go whenever you want"? Do you mean just selecting the payment in full plan? You can certainly do that. 60% of your OSAP will be deducted from your tuition, you pay the rest and then the 40% in January goes to your bank account.

Originally Posted by lawleypop

Just to clarify:

If my application status says

Web App - Submitted, then I'm good for the 15th right? OSAP will appear as a payment option for me?

Yeah, if the day that they specify is before July 15th then you should be good.

Can someone explain the payment options?

Even if you get OSAP, you have to come up with some of the money yourself? >_<

Originally Posted by lawleypop

Can someone explain the payment options?

Even if you get OSAP, you have to come up with some of the money yourself? >_<

Have you read: http://www.mcmaster.ca/bms/finance/s...l.html#plan s

OSAP may not cover your entire tuition, it rarely does and most students have to pay the difference.

Payment in Full:

September 1st: You pay Tuition-60% OSAP
September: Pick up your 60% OSAP and forward it to McMaster
January: Pick up your 40% OSAP and deposit it in your bank.

Nope, still confused.

If I pick "Flex Plan - OSAP: Designed with the OSAP release schedule in mind. Required minimum payment is approximately 60% of your Net Fees total. Balance due no later than January 15."

Does this mean I have to come up with the 60% myself for sept 1st and then I'll just get the money back from OSAP?

Or will I get OSAP first and pay off the tuition with it?

(i'm new)

Originally Posted by lawleypop

Nope, still confused.

If I pick "Flex Plan - OSAP: Designed with the OSAP release schedule in mind. Required minimum payment is approximately 60% of your Net Fees total. Balance due no later than January 15."

Does this mean I have to come up with the 60% myself for sept 1st and then I'll just get the money back from OSAP?

Or will I get OSAP first and pay off the tuition with it?

(i'm new)

This plan is actually new. But from what I've gotten by reading:

September 30th: You pay 60% tuition minus 60% OSAP.
September: Pick up OSAP and forward to McMaster
September-January: Interest accrues.
January 30th: You pay 40% tuition - 40% OSAP
January: Pick up OSAP and forward to McMaster

Interest is calculated at the end of each month: September 30th, October 31st, etc... It's 1.2% on the outstanding balance on that day.

You should also remember that you can pay at anytime during September-January. That will decrease the amount of interest you have to pay.

The numbers are all approximated though. You will know exactly how much you have to pay on September 30th when you are able to select OSAP as a payment method along with the OSAP flex plan as your payment plan.

The picking OSAP is for sure:

NOTE: OSAP students must go in-person, no later than September 15 to negotiate and sign loan certificates to ensure funds are received to your student account by the payment deadline date of September 30 (Spring/Summer May 30)

NOTE: OSAP students must go in-person, no later than January 15 to negotiate and sign loan certificates to ensure funds are received to your student account by the payment deadline date of September 30 (Spring/Summer session May 30.

Originally Posted by jhan523

This plan is actually new. But from what I've gotten by reading:

September 30th: You pay 60% tuition minus 60% OSAP.
September: Pick up OSAP and forward to McMaster
September-January: Interest accrues.
January 30th: You pay 40% tuition - 40% OSAP
January: Pick up OSAP and forward to McMaster

Interest is calculated at the end of each month: September 30th, October 31st, etc... It's 1.2% on the outstanding balance on that day.

You should also remember that you can pay at anytime during September-January. That will decrease the amount of interest you have to pay.

The numbers are all approximated though. You will know exactly how much you have to pay on September 30th when you are able to select OSAP as a payment method along with the OSAP flex plan as your payment plan.

The picking OSAP is for sure:

....

Still confused. Lmao. (At least I'm helping your post count? xD)

What do you mean pay 60% minus 60% OSAP?
That's confusing me so hard.



I also don't get why people would have to pay something upfront....isn't that half the reason why they need osap? (don't really care for an answer to this, just a rhetorical question lol)

So I selected OSAP as a funding option, and "Payment in Full" as a payment option. However, for my payment schedule it says this:

Item	Due Date	Amount
OSAP - PENDING: PLEASE CHECK BACK FOR ENTITLEMENT AMOUNT UP TO:	AUGUST 15TH	N/A
PAYMENT IN FULL	SEPTEMBER 1ST	$ FULL TUITION COST

I'm not too sure what the description next to OSAP means, can anyone please elaborate if they know? Thanks!

Originally Posted by lawleypop

....

Still confused. Lmao. (At least I'm helping your post count? xD)

What do you mean pay 60% minus 60% OSAP?
That's confusing me so hard.



I also don't get why people would have to pay something upfront....isn't that half the reason why they need osap? (don't really care for an answer to this, just a rhetorical question lol)

It means like 60% of your costs - 60% of OSAP. Say if you need to pay $1000 to Mac, and your OSAP amount is 100. That means you'll pay 600 (which is 60% of the amount owed to Mac) - 60 (which is 60% of your OSAP entitlement) = 540. I think that's what he means.

Originally Posted by lawleypop

....

Still confused. Lmao. (At least I'm helping your post count? xD)

What do you mean pay 60% minus 60% OSAP?
That's confusing me so hard.



I also don't get why people would have to pay something upfront....isn't that half the reason why they need osap? (don't really care for an answer to this, just a rhetorical question lol)

It means McMaster knows you have OSAP so it automatically deducts 60% of you OSAP from the amount you have to pay in September (Which according to this plan is 60% of your tuition). Then when you pick up your OSAP, you actually forward it to McMaster since it already deducted that amount from your tuition.

Originally Posted by TedMosby

So I selected OSAP as a funding option, and "Payment in Full" as a payment option. However, for my payment schedule it says this:



I'm not too sure what the description next to OSAP means, can anyone please elaborate if they know? Thanks!

This means your OSAP entitlement hasn't been released to McMaster yet. Wait until August 15th, but they'll actually send you an e-mail when they receive the amount you are getting from OSAP. Then 60% of your OSAP will be deducted from your tuition. You will pay that amount to the school. Then you pick up OSAP in September and forward it to McMaster. In January, the rest of your OSAP goes to your bank account.

Okay, yes or no... do you have to pay something out of your own pocket up front if you're getting osap?

(maybe I'm just confused because 60% of my osap estimate would be more than my full tuition...)