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OSAP Flex Plan Payments

 
Old 08-31-2011 at 10:58 PM   #1
preme
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OSAP Flex Plan Payments
I'm super confused by looking at my payment agreement, so I figured I'd come here for a little help.

Anyways, I chose the OSAP Flex Plan as I am using OSAP.

"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."

So my net fees right now (after my entrance scholarship and residence deposit) is $15145.17

It says I am expected to pay $2,035.10 as my initial payment (due September 30th).

I don't get where this number comes from. It says that my required minimum payment is 60% of my net fees. What does this mean?

I'm getting approx. $7,000 from OSAP for the first release, so what should I do? When should I pay and stuff. Ugh, I'm so confused and stressed, I don't even know where to start...
Old 08-31-2011 at 11:36 PM   #2
ymich
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I am a first year student. I am giving u advice from what I know.. just pay whatever it is on your account statement or pay the amount according to your payment agreement
Old 08-31-2011 at 11:39 PM   #3
fragilebird
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just look at your account balance on MUGSI and pay whatever is there.
Old 08-31-2011 at 11:54 PM   #4
jhan523
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Read your payment agreement, there is a payment schedule on it for whichever payment plan you choose. Also note that you can pay more than what they are asking for sooner than the deadlines shown. The sooner you pay the less interest you will incur.
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