ok so all i have to do now is pay the amount on the payment agreement..then go get those documents when skool starts? there arent any more steps?

Ok, I wasn't confused, now I'm confused. The two osap entitlements are separate right? Only the first release is going to your tuition. The second amount you get later in Jan which can go to your bank account right?

belladina: Yup. That's it...

jhan523: I was under the impression that if required, both amounts could go towards your tuition but I've only ever used part of my first amount so I can't be sure about that.

Originally Posted by jhan523

Ok, I wasn't confused, now I'm confused. The two osap entitlements are separate right? Only the first release is going to your tuition. The second amount you get later in Jan which can go to your bank account right?

It's possible for both the amounts to be used to pay tuition, it just depends if OSAP is needed. Only extra money (not indicated to be used for school) will be sent to your bank account...

im guessing alot of first year students don't have cheques, b/c when i went to my bank a few weeks back and asked them for a cheque book, they said I wasn't old enough yet.

I was confused and told them i was 18, but they said you need to be 19 to issue/write cheques.

what a bummer =/

you can just go and ask for your direct deposit information, and they should give you some kind of write up that has all the information a void cheque would have. that's what i did.

is it just called a "direct deposit slip?" b/c it's gonna be awkward when im standing there trying to explain something to them and they look weird at me

also, this is for the upper year students.
say i'm using my dad's cheque during the OSAP pickup. would my parents have to be there as well, or can i sign all the documents myself? i'm just confused b/c if im using any cheque at all, it'll be my dad's and im not sure if they need him to verify anything.

lastly, what exactly is a void cheque? can i just bring a normal blank cheque?

Odd... I just ordered the cheques online and in came in the mail like 2 days later. Although, I do still share a joint account with my parents... so that might be why.

If both amount go to osap, then why the hell does McMaster only deduct the first release from the tuition? If I pay that amount, then technically I only need the first release to complete the tuition.

Originally Posted by lampk

is it just called a "direct deposit slip?" b/c it's gonna be awkward when im standing there trying to explain something to them and they look weird at me

also, this is for the upper year students.
say i'm using my dad's cheque during the OSAP pickup. would my parents have to be there as well, or can i sign all the documents myself? i'm just confused b/c if im using any cheque at all, it'll be my dad's and im not sure if they need him to verify anything.

lastly, what exactly is a void cheque? can i just bring a normal blank cheque?

Go to the bank and ask if they can give you direct deposit slip. And tell them what it's for. They'll know what to give you. I asked my bank for a void cheque and they said they don't give those anymore. But they did give me the direct deposit slip.
They won't take a blank cheque (at least they shouldn't) because this would give them the ability to take money out of your account. Ie they could write a cheque to themselves. I suppose if you just wrote void in big letters on the cheque, they might take that, but i'm not sure.

A void cheque/deposit slip basically tells the company you give it to the information they need to deposit money into your account.

Yeah, to void a cheque you just put a gigantic oblique line across the cheque and write void in big letters Make sure you don't write on the bottom numbers though. That's the account information and such.

Originally Posted by kokosas

Secondly, when you pick up your OSAP you do not pick up a cheque as you would normally think of it. All the money goes either directly to you, or to the school through direct payment. You will have to bring a void/blank cheque for this purpose. When you pick up your OSAP in Sept you get 60% of the total and the remaining 40% is left to be picked up in Jan. In Sept you decide to either give the minimum requirement for payment to the school or to give them all of it. It depends on whether or not you have enough with scholarships/bursaries plus the 60% of your OSAP. In my first year I paid everything off at once because I have a few scholarships to help me out.
Hope this helps!

So if you decide to give the minimum requirement payment instead of giving all of it, you can complete your payment in january when the remaining 40% of OSAP is released? and all this without interest being charged?

I'm pretty sure interest is added if you still have an amount owing while waiting for OSAP...

ok awesome - thanks so much!

Originally Posted by lampk

is it just called a "direct deposit slip?" b/c it's gonna be awkward when im standing there trying to explain something to them and they look weird at me

ahha i just went up to the teller and he knew exactly what i was talking about, so you shouldn't have to explain what you need.

say i'm using my dad's cheque during the OSAP pickup. would my parents have to be there as well, or can i sign all the documents myself? i'm just confused b/c if im using any cheque at all, it'll be my dad's for his bank account, and im not sure if he has to verify anything at all.