Quote:
Originally Posted by dumbconsumer
Hi,
I'm looking to enter Life Science I at McMaster. I had a few questions on how payment works.
a) What is a payment agreement?
b) When do I pay my tuition? (installments each term, before university begins, etc.)
c) When do I pay for residence/meal plans?
d) Do I have an option to pay my tuition in installments or must it all be paid at once?
e) What is MUGSI/Solar?
Also any general facts you'd like to add. I'm new to the process so not too sure on the questions to ask either.
Thanks : )
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a) A payment agreement is a contract that you have to agree to after signing up for your courses.
b) There are installments, monthly payments and payment in full.
c) Everything is paid with your tuition, it's all included in the payment agreement.
d) There are multiple payment plans and installments is one of them
d) MUGSI is a gateway, it contains information such as scholarships, bursaries, your SIN, OSAP information, etc. SOLAR is part of MUGSI and is used for course selection.
Edit: I forgot about interest. If you don't pay in full then interest is charged on any amount owed at the end of each month. Last year the interest was 1.2% per month.