OK....I was looking at the payment plans....there are three of them:

1. FULL payment
2. Installment Plan
3. Monthly Payment PLan

I am considering the "INSTALLMENT PLAN"...so could anyone please clarify what it exactly is???

I wanted a plan that will allow me to make my payments every semester...so for exmaple: I will pay now in August for this semester...and then I will make my next payment in December or January (wheneva the deadline is) for the 2nd semester.....

So please guide me on this...

Hey, all of the info regarding Payment Plans can be found here: http://www.mcmaster.ca/bms/student/p...ment_plans.pdf

But I just wanted to make sure that you know if you choose any payment plan other than 'Payment in Full' then interest will be charged at an annual rate of 14.4% (1.2% per month subject to change).

Hope that helps!

But if you do choose the Installment Plan, then your first payment must be made on or before September 1, 2008 then the second payment (the balance) WITH interest must be made on or before January 15, 2009.

Yup, but the school will still be compounding interest monthly on whatever amount is left on your account from September until January.