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Payment Agreement Question

 
Old 09-08-2012 at 10:42 AM   #1
hamza4000
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Payment Agreement Question
Ok so recently what I did was is I checked the box where it says ``McMaster Scholarship`` in order to put my entrance award tuition. I`ve changed my mind and want to use that money toward textbooks. I still have the option to change it correct? Will the money be transferred automatically to the student account?
Old 09-08-2012 at 11:00 AM   #2
jhan523
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Quote:
Originally Posted by hamza4000 View Post
Ok so recently what I did was is I checked the box where it says ``McMaster Scholarship`` in order to put my entrance award tuition. I`ve changed my mind and want to use that money toward textbooks. I still have the option to change it correct? Will the money be transferred automatically to the student account?
If it's already in your student account then you can't do anything about it. In either case, you can just charge your books onto your student account.
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McMaster Alumni - Honours Molecular Biology and Genetics
Pennsylvania College of Optometry at Salus University Third Year - Doctor of Optometry
Old 09-08-2012 at 11:04 AM   #3
hamza4000
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Originally Posted by jhan523 View Post
If it's already in your student account then you can't do anything about it. In either case, you can just charge your books onto your student account.

I got an email saying this : The Office of Student Financial Aid & Scholarships has confirmed your enrolment with OSAP and the National Student Loans Service Centre. Your funding (if any) will be distributed to your personal bank account and/or McMaster student account according to your OSAP application. Your study period start and end dates have been submitted to confirm your interest-free, non-repayment status for previously negotiated OSAP loans.

Within 10 business days from the day you receive this email you should receive your OSAP funding.


I want to use the scholarship towards textbooks because atm they are expensive for me. Also, how can I check if it's already in my student account?
Old 09-08-2012 at 11:07 AM   #4
jhan523
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Quote:
Originally Posted by hamza4000 View Post
I got an email saying this : The Office of Student Financial Aid & Scholarships has confirmed your enrolment with OSAP and the National Student Loans Service Centre. Your funding (if any) will be distributed to your personal bank account and/or McMaster student account according to your OSAP application. Your study period start and end dates have been submitted to confirm your interest-free, non-repayment status for previously negotiated OSAP loans.

Within 10 business days from the day you receive this email you should receive your OSAP funding.


I want to use the scholarship towards textbooks because atm they are expensive for me. Also, how can I check if it's already in my student account?
MUGSI -> Student Accounts and Cashiers -> Student Account

In the end it's the same thing whether or not you use your scholarship directly or not. If you use it directly and have a credit on your student account, then it'll deduct from there. If you use it directly and still have an amount owing on your student account then it'll just add on to the debt.

So just charge the books to your student account and try and pay off your entire debt as fast as you can (according to your financial situation and budgeting) to minimize the amount of interest you have to pay.
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Jeremy Han
McMaster Alumni - Honours Molecular Biology and Genetics
Pennsylvania College of Optometry at Salus University Third Year - Doctor of Optometry
Old 09-08-2012 at 11:24 AM   #5
hamza4000
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Quote:
Originally Posted by jhan523 View Post
MUGSI -> Student Accounts and Cashiers -> Student Account

In the end it's the same thing whether or not you use your scholarship directly or not. If you use it directly and have a credit on your student account, then it'll deduct from there. If you use it directly and still have an amount owing on your student account then it'll just add on to the debt.

So just charge the books to your student account and try and pay off your entire debt as fast as you can (according to your financial situation and budgeting) to minimize the amount of interest you have to pay.
Oh wow lol just checked Mugsi for an account statement. No difference whatsoever.



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