[Chad]

Payment Agreement FAQ's

By CHAD FULLERTON, MACINSIDERS

Lots of questions popping up in the MacInsiders forums about the Payment Agreement and whats going on with OSAP and Entrance Scholarships. While we try to direct you to proper answers in the various forum threads, please contact the Student Accounts and Cashiers Office to get official responses to any financial/payment related questions. We are students, not McMaster staff, so we can only direct you to links and resources on the McMaster website and not answer questions ourselves.

The Student Accounts and Cashiers website is the place you want to go if you need help with payments. You can visit their website here. To learn more about the Payment Agreement? Go here. They have a great FAQ page with some common questions and answers.

Click here for information about Payment Plans and Funding Options.

Click here to learn about the dates and deadlines you need to have stuff in by.


You can reach the Student Accounts and Cashiers office at:

Student Accounts and Cashiers
Gilmour Hall, Room 209
McMaster University
1280 Main Street West
Hamilton, ON
L8S 4L8
Phone: (905) 525-9140 ext: 24478
Fax: (905) 527-3615
Student Email: [email protected] ster.ca
Department Email: [email protected]


VISIT THE STUDENT ACCOUNTS AND CASHIERS WEBSITE FOR PAYMENT OPTIONS HERE.

You'll notice that they have a PDF explaining all about the Monthly payment option.

Hi chad whats the differnce between monthly payment a and b ?

ok, i've been waiting for about a week for a reply from student accounts and still nothing. i'd call, but office hours are 11am-4pm, which is 1am-6am my time and i like sleep way too much. sooo hopefully someone here can be of some help

i'm coming over on exchange for 4 months and am staying in res, but since the payment agreement defaults to the full academic year for res, the total amount due on my payment agreement doesn't match up to how much i actually need to pay.

should i just confirm the payment agreement and pay what i'm supposed to pay, or get them to change it first?

also, does anyone know if i can pay a reduced fee for the IRC fee, since i'm only going to be in res for 4 months?

Originally Posted by WavesSea

Hi chad whats the differnce between monthly payment a and b ?

MONTHLY PAYMENT PLAN “A” (MPP A)
For students registering in one term only
(4 months – ie September to December/ January to April).
INITIAL PAYMENT
50% of your total fees; plus application fee (due September 1/January 1)
SUBSEQUENT MONTHLY PAYMENTS
The remaining amount plus interest is calculated into 2 equal payments.
(October 1& November 1/ February 1 & March 1)

MONTHLY PAYMENT PLAN “B” (MPP B)
For students registering in a full session (8 months – September to April)
INITIAL PAYMENT
25% of your total fees; plus application fee (due September 1)
SUBSEQUENT MONTHLY PAYMENTS
The remaining amount plus interest is calculated into 6 equal payments.
(October 1 to March 1)

MONTHLY PAYMENT PLAN “C” (MPP C)
For students registering in a full academic year
(12 months – September to August.)
INITIAL PAYMENT
20% of your total fees; plus application fee (due September 1)
SUBSEQUENT MONTHLY PAYMENTS
The remaining amount plus interest is calculated into 10 equal
payments. (October 1 to July 1)

SOURCE

MORE INFO on payment plan HERE

HELPP!!

For funding options, I selected "OSAP" and "McMaster Scholarship(s)"

For payment plans, I selected "Monthly Payment Plan B"

Then once I clicked "Summary"...

I get a pop up saying "You have selected an invalid combination of options. Please select again."

What did I select wrong? Can anyone help me please? Thanks in advance!

With OSAP you can only check full or installment as payment plans.

thanksss!

I was wondering, for OSAP, the first 60% goes towards your tuition right? The other 40% that is picked up in January goes directly in your bank account I think... Is this correct?

Originally Posted by Inferno

I was wondering, for OSAP, the first 60% goes towards your tuition right? The other 40% that is picked up in January goes directly in your bank account I think... Is this correct?

Depends, the 40% can go towards tuition as well if there is still some outstanding. Otherwise, you can have it directly be deposited into your bank account.

Originally Posted by PTGregD

Depends, the 40% can go towards tuition as well if there is still some outstanding. Otherwise, you can have it directly be deposited into your bank account.

Also, if you have extra money left over in your student account they will mail you a cheque with the corresponding amount.

So we need to confirm our payment agreement by the end of tomorrow?

Originally Posted by Jake

So we need to confirm our payment agreement by the end of tomorrow?

Just confirm it at least once ASAP. Don't wait till the deadline

Originally Posted by Jake

So we need to confirm our payment agreement by the end of tomorrow?

In order to receive your confirmation package if you are in first year. This package is basically just your MacID card and sticker. If you don't you can line up to pick it up when you arrive at Mac, but lines are usually long.