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paying tuition with osap without any interests?
07-30-2011 at 08:29 PM
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#1
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paying tuition with osap without any interests?
Is there a way to pay tuition with osap without interests? Because the deadline for full payment is Sept 1 but osap releases sometime during sept.
Or would the balance stay in my student account and i will be able to pay it when osap releases before the end of sept which is when and interests is calculated?
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07-30-2011 at 08:30 PM
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#2
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Quote:
Originally Posted by bkkk_5
Is there a way to pay tuition with osap without interests? Because the deadline for full payment is Sept 1 but osap releases sometime during sept.
Or would the balance stay in my student account and i will be able to pay it when osap releases before the end of sept which is when and interests is calculated?
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You just select OSAP as a payment option in your payment agreement and the first instalment is automatically deducted from what you have to pay. Then when you go and pick up your first instalment, you make it go to McMaster. Then the second instalment goes to your bank account, make sure you bring your banking information.
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Jeremy Han
McMaster Alumni - Honours Molecular Biology and Genetics
Pennsylvania College of Optometry at Salus University Third Year - Doctor of Optometry
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07-30-2011 at 08:51 PM
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#3
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Quote:
Originally Posted by jhan523
You just select OSAP as a payment option in your payment agreement and the first instalment is automatically deducted from what you have to pay. Then when you go and pick up your first instalment, you make it go to McMaster. Then the second instalment goes to your bank account, make sure you bring your banking information.
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But it says on the payment agreement that i have to pay before sept 1, wouldn't this be counted as late then? and why did u say that i should make the first installment into mcmaster account if there's no balance due on it? |
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07-30-2011 at 08:55 PM
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#4
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Quote:
Originally Posted by bkkk_5
But it says on the payment agreement that i have to pay before sept 1, wouldn't this be counted as late then? and why did u say that i should make the first installment into mcmaster account if there's no balance due on it?
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Because it's already been deducted. Box 5 shows deductions of scholarships and OSAP (if either are chosen as a payment option) and Box 6 shows what you have to pay by Sept 1.
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Jeremy Han
McMaster Alumni - Honours Molecular Biology and Genetics
Pennsylvania College of Optometry at Salus University Third Year - Doctor of Optometry
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07-30-2011 at 09:08 PM
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Quote:
Originally Posted by jhan523
Because it's already been deducted. Box 5 shows deductions of scholarships and OSAP (if either are chosen as a payment option) and Box 6 shows what you have to pay by Sept 1.
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Ohh so does that mean i won't owe anyone money with interest even before osap releases? |
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07-30-2011 at 09:09 PM
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#6
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Quote:
Originally Posted by bkkk_5
Ohh so does that mean i won't owe anyone money with interest even before osap releases?
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As long as you pay whatever it says in Box 6 you won't get charged interest (as long as you have chosen the payment in full plan).
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Jeremy Han
McMaster Alumni - Honours Molecular Biology and Genetics
Pennsylvania College of Optometry at Salus University Third Year - Doctor of Optometry
bkkk_5
says thanks to jhan523 for this post.
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07-30-2011 at 09:10 PM
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Quote:
Originally Posted by bkkk_5
Ohh so does that mean i won't owe anyone money with interest even before osap releases?
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Yes. They take into account the fact that OSAP release is during September.
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Mary Keyes CA 2013-2014
Hons. Biology and Pharmacology V
bkkk_5
says thanks to ~*Sara*~ for this post.
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07-30-2011 at 09:18 PM
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#8
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Quote:
Originally Posted by jhan523
As long as you pay whatever it says in Box 6 you won't get charged interest (as long as you have chosen the payment in full plan).
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I get it now, thank u so much! |
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08-09-2011 at 02:34 PM
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#9
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You pay interest on what you owe the school (what you havent paid with your OSAP) AFTER september
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08-09-2011 at 03:53 PM
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So wait I dont get how the amount has already been deducted from our OSAP. In previous years we had to go and say the amount we want to forward to Mcmaster does that still apply?
Thnks
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08-09-2011 at 04:02 PM
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Quote:
Originally Posted by SandraM
So wait I dont get how the amount has already been deducted from our OSAP. In previous years we had to go and say the amount we want to forward to Mcmaster does that still apply?
Thnks
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If you read your payment agreement you'll see that your first instalment of OSAP has been deducted from your tuition (provided you choose OSAP as a payment option). You then have to go pick up your OSAP and request it to be forwarded to McMaster.
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Jeremy Han
McMaster Alumni - Honours Molecular Biology and Genetics
Pennsylvania College of Optometry at Salus University Third Year - Doctor of Optometry
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08-09-2011 at 04:17 PM
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#12
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You can also choose how much of your 60% of your OSAP that you want put towards paying Mac...
For example, you give them all the funds you get, you owe the school less and get charged less interest... You don't give them all your funds, you owe the school more and get charged more interest
If accumulating interest is what you're worried about just make sure you pay as much as you can ASAP
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