Originally Posted by jhan523

If you checked OSAP as a funding option, your tuition is already reduced by 60% of your OSAP. So if you are paying in full, sept 1st is when you pay the balance stated in your PA. When you pick up OSAP, it will go toward McMaster.

The second pick-up will go to your bank since you paid in full. (If you are paying in full).

Basically whatever payment option you choose, whether it's in full or instalments, just pay the balance stated on your payment agreement.

So if the 60% of my OSAP will cover the full costs for the year, it's just automatically deducted that day, right?

Originally Posted by reeves

So if the 60% of my OSAP will cover the full costs for the year, it's just automatically deducted that day, right?

Well, when you select OSAP as a funding option in your PA if the balance you have to pay is 0$, then you don't have to pay anything.

Choosing OSAP as a funding option is pretty much like getting a "credit" on your tuition until you go and pick it up in September.

Originally Posted by FireDragoonX

I mean that some of the admins make articles where they just copy and paste the emails that everyone at McMaster gets.

It's not a bad thing per se, since this can be useful for people who don't check their MUSS emails (especially if they're in first year or they haven't set up forwarding their email to their primary email account).

but it's kinda tacky imo. lol, like tell me something I don't know.

lol, no one is forcing you to read the announcement if you already know about it.

i have a question- how will i be able to pick up my OSAP if i do not have my mcmaster student ID card? i completed the payment agreement like 2 days ago, so i thought because i accepted the payment agreement so late, that i have to pick it up during frosh week?

can anyone confirm this or correct me please!

Originally Posted by minikit99

i have a question- how will i be able to pick up my OSAP if i do not have my mcmaster student ID card? i completed the payment agreement like 2 days ago, so i thought because i accepted the payment agreement so late, that i have to pick it up during frosh week?

can anyone confirm this or correct me please!

Well, I believe that you were supposed to just fill out the New Student Form in order to receive your McMaster Student ID. With that said, have you filled it out? If you haven't by now, that means you will have to pick it up during Frosh week. (You still have to fill it out though!)

OSAP Pick-up goes on for like two to three weeks after school starts so don't worry about it. :]

I m reaching mac on the 12th of sept. and part of my fee is payed by osap. is it going to create problems if I collect osap later than 1st?

Originally Posted by Minnie

I m reaching mac on the 12th of sept. and part of my fee is payed by osap. is it going to create problems if I collect osap later than 1st?

It won't create any problems at all since osap collection goes on for quite a while.

Originally Posted by reeves

So if the 60% of my OSAP will cover the full costs for the year, it's just automatically deducted that day, right?

I'd just like to add to what jhan said, it is still of utmost importance that you negotiate your loan documents (aka "pick up your OSAP" though that is a misnomer) as soon as you can.

This is because even though what he said is correct, that you are being given a 'credit' on your tuition, no actually money is released to McMaster until you give the orders (You do this by signing a piece of paper at the time of pick up).

I think this must be done by the end of the month or interest is charged on the full amount of your unpaid tuition (including what you said would be paid by OSAP).

The 5th is definitely not too late to do this though...the reason I'm saying this is because I know of some people who were like "Pff....tuition's already paid by OSAP" or "All my money's just going to the school anyway, I don't need to stand in line and pick it up."

But these people had a bit of a rude awakening in October, when suddenly their student accounts showed a balance of 6.5 grand (or whatever their tuition + interest was).

So take home point: Always negotiate your loan documents.

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To Minnie: OSAP pick-up runs for the entire year. Being given OSAP is contractual between you and the government of Ontario...McMaster is merely the 'middle man' designated by the government to ensure a safe and secure transaction.

McMaster can never deny you your rightful OSAP money.

I believe you pick up OSAP on the third floor of the MUSC for 2 weeks, and then after that pick up is moved into the SFAS (financial aid) office in Gilmour Hall, for the rest of the semester...until January when it's back in MUSC, then back in SFAS until the summer months. (the reason it goes in the MUSC is because of sheer volume...it's a wide open space equipped to meet the demand of students with something like 20 people helping you with the paperwork. In the SFAS, there's only like 2)

Your OSAP does expire at some point, like May or June 2010...but this was laid out in the terms set out by the government of ontario. (Basically, if you don't pick up your OSAP by May or June, you didn't really need it).

Originally Posted by Mowicz

I'd just like to add to what jhan said, it is still of utmost importance that you negotiate your loan documents (aka "pick up your OSAP" though that is a misnomer) as soon as you can.

This is because even though what he said is correct, that you are being given a 'credit' on your tuition, no actually money is released to McMaster until you give the orders (You do this by signing a piece of paper at the time of pick up).

I think this must be done by the end of the month or interest is charged on the full amount of your unpaid tuition (including what you said would be paid by OSAP).

So, if I go on say...Monday the 7th, will I be paying a late fee?

Okay, on my payment agreement it say, "Will not be realeased untill Sept 10th."
But that still means I can go before hand and pick it up, correct? Like say Aug 26th or something? I believe all of my osap is going to McMaster it that makes any difference.

Originally Posted by crys.eg

Okay, on my payment agreement it say, "Will not be realeased untill Sept 10th."
But that still means I can go before hand and pick it up, correct? Like say Aug 26th or something? I believe all of my osap is going to McMaster it that makes any difference.

Yeah you can go and pick up your osap starting August 26. The pickup date does not depend on whether all of ur osap is going to Mcmaster or you get a part of it.

Okay i've been reading and I still don't get it. In the Financial Summary part there are three lines: Installment Amount, OSAP and Balance Forward. Will the Balance Forward not be paid by OSAP? Do I have to pay that by myself?

Originally Posted by niteskie

Okay i've been reading and I still don't get it. In the Financial Summary part there are three lines: Installment Amount, OSAP and Balance Forward. Will the Balance Forward not be paid by OSAP? Do I have to pay that by myself?

That is correct, the balance forward is what YOU have to pay. OSAP has already been deducted at the point in the payment agreement.

For the installment plan what % do we have to pay? Cause right now i'm paying more than 60% of my fees by Sept 1st.

Originally Posted by niteskie

For the installment plan what % do we have to pay? Cause right now i'm paying more than 60% of my fees by Sept 1st.

It says it's based on the amount of units and fee status...

They actually don't specify the calculations... That's all the information they provided in the information about payment plans.