Originally Posted by Bhaltair
The 60% goes towards McMaster in the fall, if you pay the rest of the tuition by the 30th, as in paid in full (mine is September 1st oddly), you will get the 40% in the winter. If you hadn't paid in full, the 40% goes to McMaster as well.
Hope this helps.
For OP, you don't have to pay in full because you chose the OSAP flex plan that is why your due date is different. The idea is McMaster is accepting payments as your OSAP comes in if you cannot pay in full by September 1st.
So here's what it all looks like after you've applied and everything:
BY SEPTEMBER 30:
1. Pay whatever McMaster has asked you to pay (~60% of your net fees)
2. Pick UP OSAP (within the first two weeks of school)
BY JANRUARY 15th:
1. Pay whatever's left of your net fees
2. Pick up OSAP (within first two weeks of coming back from xmas holidays)
Again, the idea is because you don't have enough money to pay in full, McMaster is allowing you to pay as your OSAP comes in. As you can see each due date is around when OSAP is released so that when you get the money from OSAP then, you can pay McMaster. Your first installment of OSAP (the one you get in September goes directly to McMaster). The final installment (in January), can be put into your bank account or you can give it directly to McMaster.
Keep in mind you can keep paying what's left to pay as the year goes on so you don't pay as much interest. ie. Pay whatever you can whenever you can.