How exactly does the OSAP funding reach students? I read something about a student account that the money is deposited into, but is it automatically deducted from our tuition? Or, do we get some sort of cheque that we use to pay our tuition afterwards?

Originally Posted by Angoose

How exactly does the OSAP funding reach students? I read something about a student account that the money is deposited into, but is it automatically deducted from our tuition? Or, do we get some sort of cheque that we use to pay our tuition afterwards?

If you choose OSAP as a payment method on your payment agreement, 60% of your OSAP is deducted from your tuition. When you pick up your OSAP in September, it goes to the university since you've agreed to it.

Not sure how the OSAP flex plan works exactly, but my guess is that the 40% also goes to McMaster when you pick it up in January.

If you are paying in full then the 40% will be deposited into your bank account (or any bank account, in either case you need to supply them with the necessary information which is found on a cheque).

Originally Posted by jhan523

If you choose OSAP as a payment method on your payment agreement, 60% of your OSAP is deducted from your tuition. When you pick up your OSAP in September, it goes to the university since you've agreed to it.

Not sure how the OSAP flex plan works exactly, but my guess is that the 40% also goes to McMaster when you pick it up in January.

If you are paying in full then the 40% will be deposited into your bank account (or any bank account, in either case you need to supply them with the necessary information which is found on a cheque).

Oh I see. I guess I don't have to bother getting banking information then, if the funding is automatically deducted. Thanks for your help.

Originally Posted by Angoose

Oh I see. I guess I don't have to bother getting banking information then, if the funding is automatically deducted. Thanks for your help.

Yeah, if you see that it was deducted in your payment agreement then you don't need banking information. Not for the first pick-up anyways.