this might be a really stupid question, but this is the scenario:
my only funding for this year is osap, and I'm entitled to $1503 during the first term. My payment agreement says that my initial payment due on September 1st is $2142, does this mean that I must pay additional $2142, OR do I only pay another $639 (combined with my osap entitlement) to meet the amount?

For this entire summer, I've been thinking that I could pick up my osap and then just pay $639 and that was fine, but after looking closely, now I'm worried. I don't have another $2000 right now. I'm mad enough that osap isn't even giving me enough to pay for of half my tuition.


this is what is says:


4. Financial Summary (Based on Current Student Record)

Installment Amount (funding options) $ 3645.00

OSAP $ 1503.00

_____________________ _____________

Balance Forward $ 2142.00





Thank you for any help.

The balance forward amount is the amount that you have to pay so yeah, you'd have to pay the full $2142. Initially, the amount was $3645 which was lowered to the $2142 after the OSAP deduction of $1503.
The amount in balance forward is always the full amount you owe after all the money from scholarships and OSAP loans and grants have been deducted. If you could get the money before the end of august you wouldn't have to pay any interest so it gives you a little extra time...

i'm also on the installment plan. but why is it that you can avoid paying interest if you get the money in before the end of august?

Interest is only calculated at the end of each month. It's not like banking where interest is calculated everyday and a big chunk is given to you at the end of the month.

*Removed by author while he does some fact checking*