Hi, i'm SOOO confused with this payment agreement thing.

I checked on OSAP for funding option and full payment for the payment option..?

I was not accepted to rez so my tuition in total comes upto somewhere around 5200.

this is because i have transferred credits and only taking 24 units this year.

here is the thing that confused me. there is this chart(paymen schedule) and it says:


BASED ON YOUR OSAP ESTIMATE, THIS IS THE AMOUNT WE WILL DEDUCT.( Duedate: N/A), ( Amount: $ 5056.20 )
PLEASE CHECK BACK FOR ENTITLEMENT AMOUNT BY:( AUGUST 15TH) (Amount:N/A )
PAYMENT IN FULL (Due date: SEPTEMBER 1ST) (Amount:$ 115.38 )






what does this mean? i payed 115.38 last nite so will i be fine? my osap estimate was like 8000.

so does it mean they will take 5056.20 automatically out of the osap I will be receiving?

if so, does that mean i won't have to pay anything (because i payed that 115.38 already)?

So now all you have to do is pick up your OSAP, which you can start doing near the end of August.

But yeah, you look like you're all set except for that part.

If you go into MUGSI -> Student Accounts and Cashiers -> Account Statement. You'll see how much you have to pay if any at all.

Yes, you're fine.
Pick up the rest of your OSAP in January and that will be either deposited directly to your bank account or be mailed to you

Yep, that's all you have to do. Keep in mind that you pick up 60% of your OSAP in September and the remaining 40% in January.

What this means is that 60% of your total OSAP which is realeased to you in Sept will go directly to McMaster to cover your tuition and you'll never see this money. McMaster will then deduct this from your total payment due, and you owe whatever balance is left over (in your case, 115.38). Once this is payed, then your costs for the year are payed for (or at least, the base cost of tuition etc to McMaster, not including books, and other such things).
Then in January, when the remaining 40% of your total OSAP is released, this goes directly to you.