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Payment Agreement

 
Old 07-28-2008 at 01:15 PM   #121
ae1011
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i have question on how to get back the $ we paid prior osap

i.e the total i needa pay is 13000, osap offered me 10000. if I pick payment in full, I transfer 13000 1st n then I pick up my osap, right? but the osap is split into 2 parts, if I get 6000 in SEP, 4000 in JAN, which means I only needa pay 3000. how do I get back my 10000 from the initial payment? they give us a cheaque back?
Old 07-28-2008 at 01:43 PM   #122
lacus1004
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when and where do i go to sign this confirmation of enrollment paper?
Old 07-28-2008 at 07:07 PM   #123
kenneth526
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Quote:
Originally Posted by Sarah13
Ok so....
I know that first payments are due on September 1, unless you're receiving OSAP, and that if you know you're not going to have all of the money ready by that date, you should choose a more appropriate payment plan than "payment in full".
So let's say I choose the installment plan, because I'm getting an external scholarship, which I won't receive till the first-ish week of September. If I pay off all of my fees before interest starts being calculated (ie. before October), I'm home free, right? Like, I won't be charged any interest? It'll be just like I chose the payment in full plan, only I'm paying a portion of it a week or two later. Does this sound right? I know I have to contact the Accounts&Cashiers office, but I figured I'd get a quicker response this way, especially at this time of year.
Correct; interest is charged on the last day of every month starting September 30th. If you pay your fees before this (Sep. 30/2008), you won't have to worry about interest charges.

Quote:
Originally Posted by ae1011
i have question on how to get back the $ we paid prior osap

i.e the total i needa pay is 13000, osap offered me 10000. if I pick payment in full, I transfer 13000 1st n then I pick up my osap, right? but the osap is split into 2 parts, if I get 6000 in SEP, 4000 in JAN, which means I only needa pay 3000. how do I get back my 10000 from the initial payment? they give us a cheaque back?
The school always debits your student account first. If there are no outstanding fees on your student account, then you get a cheque.

Quote:
Originally Posted by lacus1004
when and where do i go to sign this confirmation of enrollment paper?
I think you get it when you pick up your OSAP papers sometime in September after classes start.
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Old 07-28-2008 at 08:27 PM   #124
kokosas
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You can start picking up your OSAP on Sept 4th (the first day of classes) and the pick up center is always on the 3rd floor of the Student Center in the CIBC Hall. You won't be able to miss the line
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Last edited by lorend : 07-29-2008 at 11:51 PM.
Old 07-28-2008 at 09:34 PM   #125
Eva C
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Pick up your fall OSAP in person between September 2nd and September 12th in MUSC-314/315, 9:00 am to 4:00 pm, Monday through Friday.

You must bring your valid McMaster student id card, proof of social insurance number (e.g. sin card or photocopy), valid government photo id (e.g. Ontario photo health card, driver's licence, Canadian passport, BYID card, citizenship card, permanent resident card, etc) and a void cheque/banking information with you to pick up your funding.
Old 08-08-2008 at 04:34 PM   #126
Sync
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How do entrance scholarships work? Does McMaster automatically deduct the tuition fees with the entrance scholarhips once the payment agreement is confirmed?
Old 08-08-2008 at 04:40 PM   #127
Eva C
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yes your enterance scholorship will automatically be deducted when you go to your payment agreemnt and select mcmaster scholorships as one of your funding options. On your Payment agreement, the amount you pay for tuition should have had the enterance deducted from it already. check your payment agreement again!

Sync says thanks to Eva C for this post.
Old 08-09-2008 at 03:17 PM   #128
lacus1004
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on out payment agreement.. at the funding option section...
beside osap it says estimate... do i have to wait until it says issued before i pay or can i just pay even though it says estimate?
Old 08-09-2008 at 04:23 PM   #129
Eva C
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if you pay now, then when you go to line up for osap in sept, they will just mail you a cheque for the amount you aren't using for tuitoin or putting it in your bank account if you supply your bank number/info.

i think the osap should say the amount soon for those that don't have it yet. i think it was aug 15th, but i'm not sure.
Old 08-09-2008 at 05:45 PM   #130
lacus1004
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so then is it ok to pay the money even though the osap says estimate?
Old 08-10-2008 at 10:43 AM   #131
lacus1004
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it says aug 15 is the first payment.. then can i hold on to my payment until aug 15 until the osap says issued? or do i have to pay before?
Old 08-10-2008 at 10:44 AM   #132
lacus1004
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on my payment agreement aug 15 says N/A .. but when i asked earlier some people told me i have to pay by aug 15.. so can somebody clear that up for me?
Old 08-11-2008 at 05:40 PM   #133
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I just have a question about the payment agreement itself...

is there any other forms (a signed sheet, for example), that we need to hand in by August 15th to the university?

Or is it just the online payment agreement completed that we need?!

Im using the installment plan, I dont know if that makes a different or not...
but primarily I'm not sure if there is a sheet I need to sign, or whether or not a confirmed PA online is all I need.
Old 08-11-2008 at 05:54 PM   #134
lucox
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and lacus,
Im pretty sure that the payment deadline isnt August 15th...
I had that same question and Im pretty sure that its September 1st,
can somebody confirm that?
Old 08-11-2008 at 07:45 PM   #135
Duarch
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Quote:
Originally Posted by Chad View Post
There is an OSAP funding option in the Payment Agreement. You use that.

See below, from the Student Accounts and Cashiers office, see part highlighted in green:

When indicating OSAP as a funding option, your initial portion ONLY (the entitlement amount released to you in September) is remitted in your “Balance” calculations in the Payment Agreement

• You MUST pick up and negotiate your loan documents in order for the funds to be released by the government

• PLEASE NOTE: Our office takes into account that release of funds from OSAP will not happen until September 4/07 - after our deadline date. The amount indicated in your “Balance Owing” portion of our Payment Agreement (ie. The amount that your OSAP amount does not cover for your initial payment due and you have pay out of your own pocket) is what is due for September 1, 2007 If this deadline is not met, a $35.00 Payment Agreement Default Fee will be assessed to your Student Account

• The Office of Student Financial Aid & Scholarships administers the Ontario Student Assistance Program (OSAP) on behalf of the Ministry of Training, Colleges and Universities (MTCU). For further details on OSAP and its release, please go to: http://sfas.mcmaster.ca/osapnewmain.htm

http://www.mcmaster.ca/bms/student/p..._options.p df
Just borrowing something Chad said.
So your payment is due on SEPTEMBER FIRST. And there isn't a paper payment form, just the online one that you must fill out.

In terms of paying off your amount when your OSAP amount is still an estimate, I would wait a few days until it shows the actual amount you'll be recieving from OSAP and just pay off the "balance owing portion". If you applied for OSAP after a certain date (I believe it was July 15th), you can't use OSAP as a funding option. In this case, don't select it as an option and pay out of your pocket. You can use the OSAP money that you pick up to replace this amount after you pick it up in September and January.



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