question regarding OSAP and payment agreement!
07-18-2010 at 08:56 PM
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#1
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question regarding OSAP and payment agreement!
I am getting osap this year. On my payment agreement it says:
6. PAYMENT SCHEDULE  BASED ON YOUR OSAP ESTIMATE, THIS IS THE AMOUNT WE WILL DEDUCT. DUE DATE: N/A AMOUNT: $ 3960.00
PLEASE CHECK BACK FOR ENTITLEMENT AMOUNT BY: AUGUST 15TH AMOUNT: N/A
BALANCE PLUS INTEREST DUE. A LATE PAYMENT FEE WILL BE APPLICABLE AFTER THIS DATE. DUE DATE: JANUARY 15TH AMOUNT: N/A
The first section where is says "based on your osap estimate, this is the amount we will deduct".. does this mean that out of the 60% of my osap entitlement that will be given to me in september, they will take only $3960.00 out of that for tuition and the rest will be mine? Same with second term from the 40%??
Last edited by xsanx : 07-18-2010 at 09:02 PM.
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07-18-2010 at 09:16 PM
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#2
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Quote:
Originally Posted by xsanx
I am getting osap this year. On my payment agreement it says:
6. PAYMENT SCHEDULE BASED ON YOUR OSAP ESTIMATE, THIS IS THE AMOUNT WE WILL DEDUCT. DUE DATE: N/A AMOUNT: $ 3960.00
PLEASE CHECK BACK FOR ENTITLEMENT AMOUNT BY: AUGUST 15TH AMOUNT: N/A
BALANCE PLUS INTEREST DUE. A LATE PAYMENT FEE WILL BE APPLICABLE AFTER THIS DATE. DUE DATE: JANUARY 15TH AMOUNT: N/A
The first section where is says "based on your osap estimate, this is the amount we will deduct".. does this mean that out of the 60% of my osap entitlement that will be given to me in september, they will take only $3960.00 out of that for tuition and the rest will be mine? Same with second term from the 40%?? |
Not really sure what you are asking, it's kind of confusing.
Don't worry about all this estimate stuff. Just wait until your actual entitlement comes in. When it does you will know exactly how much is deducted from your tuition and how much you will 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
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07-18-2010 at 09:22 PM
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#3
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you know how osap gives u 60% of the money in september and then 40% in january.. in september, 60% of the osap im getting is $7309.2.. and then the 40% im going to get in january.. so what im asking is, is the $3690 deduction from the $7309.2? if yes, i will be left with $3349.2.. so will i have this money for myself like rent and stuff?
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07-18-2010 at 09:27 PM
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#4
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Quote:
Originally Posted by xsanx
you know how osap gives u 60% of the money in september and then 40% in january.. in september, 60% of the osap im getting is $7309.2.. and then the 40% im going to get in january.. so what im asking is, is the $3690 deduction from the $7309.2? if yes, i will be left with $3349.2.. so will i have this money for myself like rent and stuff?
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I'm pretty sure 3690 is the amount you have to pay McMaster.
To make it easier, just state your balance in 5 and your OSAP entitlement.
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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
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07-18-2010 at 09:30 PM
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#5
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yeah thats what i mean, so there will take out $3960 to pay for some of my tuition, and do the same in january to pay the rest of my tuition, and whatevers left over its for my doing
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07-18-2010 at 09:30 PM
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#6
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thanks just was making sure
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07-18-2010 at 09:31 PM
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Quote:
Originally Posted by xsanx
yeah thats what i mean, so there will take out $3960 to pay for some of my tuition, and do the same in january to pay the rest of my tuition, and whatevers left over its for my doing
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I have no idea what you are talking about anymore.
Just state your Balance, OSAP entitlement and the payment plan.
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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
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07-19-2010 at 10:29 AM
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Yeah, you're definitely right. They'll deduct that amount from the 60% in september and you'll have the rest left over for textbooks, rent, etc.
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07-23-2010 at 10:05 PM
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Just a question since i sorta get the 60/40. On my current payment agreement, total balance is 16k. minus scholarships n such i got like 13k to pay. Does the osap amount eventually factor in sometime in august or do i have to pay the full 13k then it gets recredited
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07-24-2010 at 11:56 AM
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Quote:
Originally Posted by Leeoku
Just a question since i sorta get the 60/40. On my current payment agreement, total balance is 16k. minus scholarships n such i got like 13k to pay. Does the osap amount eventually factor in sometime in august or do i have to pay the full 13k then it gets recredited
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If you applied to OSAP Before July 15th, then it will appear as a payment method on your payment agreement. It should appear soon and you will get an e-mail from McMaster when it does. Once it does appear, check it and confirm the payment agreement again. It will automatically deduct 60% of your OSAP from your tuition and will tell you how much you have to pay on September 1st.
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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
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