Payment Agreement Question
07-02-2009 at 09:18 PM
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#16
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Yeah you're right I was actually just thinking about that. And through the bank site would actually be more secure. Thanks Greg!
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Mary Keyes CA 2013-2014
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07-02-2009 at 10:14 PM
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#17
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Quote:
Originally Posted by sara_h216
Yeah you're right I was actually just thinking about that. And through the bank site would actually be more secure. Thanks Greg!
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Yeah, might as well not get too complicated with interac and just use online banking to front the full amount.
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Gregory Darkeff
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07-03-2009 at 07:59 PM
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#18
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Kay I have a question. Have you guys done the Installment option before? Where you pay a certain initial amount in September, and then the rest by January? It says that you can pay the rest before January, but does it have to be the whole thing or can you like slowly pay it off during those months between September and January?
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07-03-2009 at 08:21 PM
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#19
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Feona, I'm pretty sure you can slowly pay it off as long as it's before January.
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07-03-2009 at 10:00 PM
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#20
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Thanks muchos! I wasn't sure. 
For those who are sort of wary of the installment plan because of interest, it's not much, about 1.2%. I calculated that I'll pay close to an extra hundred dollars, but if you can pay it off slowly that amount will go down. :] |
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07-04-2009 at 10:53 AM
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#21
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What about the payment in full option.. does that include tuition, residence, and meal plan.. all at once? and before September 1st?! =O
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Mary Keyes CA 2013-2014
Hons. Biology and Pharmacology V
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07-04-2009 at 10:54 AM
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#22
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Quote:
Originally Posted by sara_h216
What about the payment in full option.. does that include tuition, residence, and meal plan.. all at once? and before September 1st?! =O
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Yup, it includes all those things. Expensive, I know.
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Gregory Darkeff
Alumni 2011 - Honors Commerce and Economics Minor
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07-04-2009 at 11:33 AM
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#23
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Uh ohh.. Maybe I should change it then.. So not happening like that .. I can't pay all that at once :O. Thanks a lot Greg!
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Mary Keyes CA 2013-2014
Hons. Biology and Pharmacology V
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07-04-2009 at 11:40 AM
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#24
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Quote:
Originally Posted by sara_h216
Uh ohh.. Maybe I should change it then.. So not happening like that .. I can't pay all that at once :O. Thanks a lot Greg! |
No problem 
You should select a monthly installment plan then. That way you can defer some payment until you receive the second half of OSAP in January. (That's if you're on OSAP to begin with)
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Gregory Darkeff
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07-04-2009 at 11:45 AM
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#25
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How much interest is on the monthly payment option? I heard 1.2% or something? But didn't see anything on the site.. so I'm not sure. And thanks to RESP.. and summer jobs I won't be needing OSAP first year. Yay
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Mary Keyes CA 2013-2014
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07-04-2009 at 11:48 AM
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#26
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Quote:
Originally Posted by sara_h216
How much interest is on the monthly payment option? I heard 1.2% or something? But didn't see anything on the site.. so I'm not sure. And thanks to RESP.. and summer jobs I won't be needing OSAP first year. Yay |
http://www.mcmaster.ca/bms/student/pdf/SAC_pa_guide.pdf
That explains everything and mentions the 1.2% interest per month.
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Gregory Darkeff
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07-04-2009 at 11:53 AM
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#27
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Awesome! Thanks a bunch  !
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Mary Keyes CA 2013-2014
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07-04-2009 at 10:48 PM
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#28
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1.2% is a lot... That's like 14.4%+ a year (since you also take 1.2% on the 1.2% before hand, which adds up).
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Jeremy Han
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07-04-2009 at 11:05 PM
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#29
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heyyy,
soo if we pay our payment agreement by july 30, and aftwards say august 13th when we get our timetables back are we able to drop and add a course?
Also, do we have to pay more then the payment agreement amount that we already paid for earlier?
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07-04-2009 at 11:06 PM
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#30
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If I'm not being too bold by posting what my tuition is, lol here it is. In total, it's 5792 and I have to pay 3820 in September as the initial amount. So I'm left with 1972 to pay by January. If I were to wait until January to pay for it, the interest that would be accumulated would amount to approx. 95 dollars. That's if I did the calculation right, haha. But yeah, I mean it's not that much, especially if you start paying off early.
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