I have the flex OSAP plan selected for paying my tuition, so my account statement is showing me that most of my tuition is paid with the 60% i got in september, and now i only have $2110.24 as my balance (meaning im owing).. so does this mean that interest is going to be calculated until the money from osap that i'm going to get in january pays the remaining balance? if the interest is 14.4% anually, would that mean in the end i would owe $2173.92?

Originally Posted by xsanx

I have the flex OSAP plan selected for paying my tuition, so my account statement is showing me that most of my tuition is paid with the 60% i got in september, and now i only have $2110.24 as my balance (meaning im owing).. so does this mean that interest is going to be calculated until the money from osap that i'm going to get in january pays the remaining balance? if the interest is 14.4% anually, would that mean in the end i would owe $2173.92?

Yes, interest is charged at the end of each month on the outstanding balance.

By January 1st you will owe them 2213.37$