I have a question about the installement plan... so they say there's interest of 1.2% after every month right... well is that AFTER january if you still haven't paid it all, or is it litteraly after every month throughout the school year? would it be smarter to just pay it all at once?

And why is it that on the payment agreement page, they only dedut term 1 OSAP and not term 2 from the total fee?

thanks in advance

Originally Posted by jc24

I have a question about the installement plan... so they say there's interest of 1.2% after every month right... well is that AFTER january if you still haven't paid it all, or is it litteraly after every month throughout the school year? would it be smarter to just pay it all at once?

And why is it that on the payment agreement page, they only dedut term 1 OSAP and not term 2 from the total fee?

thanks in advance

It's at the end of every month starting September.

Yes, it would be better off paying it all at once however not everybody has that capacity. There are lots of students that aren't supported by their parents and they have to work to pay off university.

They only deduct term 1 OSAP because they want the money now. If you choose the instalment plan you can use the term 2 OSAP to pay the rest. Of course, interest would be charged. OSAP does the term 1 and term 2 releases in order to alter the term 2 release in case anything changes (students will get or lose jobs for instance).

I chose the payment in full option and have payed.... How long will it take till the balance owed is 0$ on the payment agreement page? cuz right now it still says the amount i owed and payed... should i be concerned that it didn't work?

check your account statement

Originally Posted by Afzal

check your account statement

For direction: MUGSI -> My Student Accounts & Cashiers -> Account Statement

i tried to pay.. nd it keeps saying that my limit has been exceeded and it won't let me pay.. i was able to pay a small portion of the amount.. but it doesnt show up on the summary.. wher should i go and check that...

Originally Posted by kanagaap

i tried to pay.. nd it keeps saying that my limit has been exceeded and it won't let me pay.. i was able to pay a small portion of the amount.. but it doesnt show up on the summary.. wher should i go and check that...

If you are paying by Interac you probably have a limit set by your bank (It's a safety feature to protect you from thieves).

You check in the Account Statement (MUGSI -> My Student Accounts & Cashiers -> Account Statement).