If you're saying 'first payment' does that mean you chose the flex plan option? If so, I would suggest you use your OSAP to pay as much of the remaining tuition as possible to reduce the amount of interest you'll pay until January.

Originally Posted by N.Cheng

If you're saying 'first payment' does that mean you chose the flex plan option? If so, I would suggest you use your OSAP to pay as much of the remaining tuition as possible to reduce the amount of interest you'll pay until January.

But only if their financial situation allows for it. They may need that portion of OSAP for things such as rent, utilities, food, books. Or if they do use OSAP to pay for the rest of their tuition and need money for essentials, then they should look into student loans. Not sure what the interest rate on undergrad student loans are, but they may be better than the 14.4% McMaster is charging.

If you look on the OSAP website, it should very clearly state when each payment will be released to you. I believe it typically corresponds to the first day of classes for your institution (for the first installment, anyways), but I'm not sure if it's always like that.
Anyways, go log onto the OSAP website, and the info you want is there.

Originally Posted by Unregistered

Actually I'm going to have approximately $2550 OSAP left over from my first release. The reason being because I got a scholarship which covered a lot of what I owed for the first payment. So yeah definitley going to use that OSAP money wisely hehehehe he he.

Yeah, I had a $4,000 scholarship in my 1st year that covered like half my tuition, but that still doesn't mean you should waste the extra OSAP recklessly. If anything, put it away in case you really do end up needing it for something important in the future.

Spend it on hookers and blow