Originally Posted by ferreinm

I think one important thing that all of you seem to be forgetting is..
1. you would have to pay more money. Why? well you'd be living either in res or off campus for 4 extra months
2. you would earn less money. why? you can't work a full-time job if its divided that way
3. if you earn less money and need to pay more money you will likely be less likely to afford university or will have a greater financial debt in the end. yes osap helps. however, osap isn't always enough. despite getting a lot of money from osap i still need to pay mcmaster 8 grand and even with a summer job i can't pay for it

1) If you stayed the full four years nonstop, then yes you would pay more money. However you would likely be able to earn a bachelors degree in 2.5, or 3 years this way. Besides, many people have to sign full year leases and sublet their houses during the summer, this would prevent the need for that.

2) You earn less money since you don't have the opportunity to work over those four months every year, yes...but that's really the point isn't it? A lot of people here are saying despite this opportunity, summer is still too long. Suppose we're working in the other system, and you finish your degree in 2.5-3 years. Now, you work straight, for this extra 1 or 1.5 years left over after finishing university, to pay off your debt after having your degree. After four years, in retrospect you may be a little behind (because of Time Value of Money vs Interest Rates) but not as much as you're suggesting. Not to mention you may get a higher paying job with your completed degree, and even wind up on top...who knows.

3) You can't just change one variable and assume the rest stay the same, particularly when OSAP is the dependent variable...If the undergraduate process were to somehow change, OSAP must change to accomodate it: OSAP would be built differently. This method of student loans is the way it is because you only go to school 8/12 months of the year (and can apply separately for summer assistance). However, you can't assume that if the stakes were different, namely we had a 12 month academic year, that we would receive the same OSAP entitlement we are given. A crude estimate would be that, since we're in school 1.5 times the duration (per year), we would receive 1.5 times the financial assistance (per year). Ultimately, our bachelor's degree would 'cost' the same amount, we'd simply have to pay for it a little faster.

4) It really comes down to the value of one's time. I would rather go year-round, learn better and be more successful (even if I've racked up a little extra debt). Decidedly, you wouldn't agree Nicole...but it's really a matter of opinion.

That's why this wasn't as much a 'suggestion' as it was an indication of what I would prefer.

Originally Posted by Mowicz

1) If you stayed the full four years nonstop, then yes you would pay more money. However you would likely be able to earn a bachelors degree in 2.5, or 3 years this way. Besides, many people have to sign full year leases and sublet their houses during the summer, this would prevent the need for that.

2) You earn less money since you don't have the opportunity to work over those four months every year, yes...but that's really the point isn't it? A lot of people here are saying despite this opportunity, summer is still too long. Suppose we're working in the other system, and you finish your degree in 2.5-3 years. Now, you work straight, for this extra 1 or 1.5 years left over after finishing university, to pay off your debt after having your degree. After four years, in retrospect you may be a little behind (because of Time Value of Money vs Interest Rates) but not as much as you're suggesting. Not to mention you may get a higher paying job with your completed degree, and even wind up on top...who knows.

3) You can't just change one variable and assume the rest stay the same, particularly when OSAP is the dependent variable...If the undergraduate process were to somehow change, OSAP must change to accomodate it: OSAP would be built differently. This method of student loans is the way it is because you only go to school 8/12 months of the year (and can apply separately for summer assistance). However, you can't assume that if the stakes were different, namely we had a 12 month academic year, that we would receive the same OSAP entitlement we are given. A crude estimate would be that, since we're in school 1.5 times the duration, we would receive 1.5 times the financial assistance.

4) It really comes down to the value of one's time. I would rather go year-round, learn better and be more successful (even if I've racked up a little extra debt). Decidedly, you wouldn't agree Nicole...but it's really a matter of opinion.

That's why this wasn't as much a 'suggestion' as it was an indication of what I would prefer.

I'm not saying I don't like the idea. I just don't think it's very plausible. I take summer school so that my brain doesn't die in the summer. Though some people do stay for the summer or sublet, many students do go home for the summer. Residence fees would likely shoot up more because they won't be getting paid from the conferences in the summer. I still think the debt would be bigger because you're not paying as you go, you'd pay like one lump sum at the end and would need to take more loans. As for OSAP, I mentioned that because I assumed that not all universities were to change. Though I doubt that this would ever happen in NA anytime soon. On a random side note, I wouldn't mind a first term reading week just to give the mind a rest. I feel that it may be perhaps many students have 4 months off that when midterms hit first term it's more overwhelming. My marks always shoot up second term. I don't know if it's because of reading week or because I'm already in the school routine. Something needs to be changed I just haven't put my finger on it yet.

Originally Posted by ferreinm

I'm not saying I don't like the idea. I just don't think it's very plausible. I take summer school so that my brain doesn't die in the summer. Though some people do stay for the summer or sublet, many students do go home for the summer. Residence fees would likely shoot up more because they won't be getting paid from the conferences in the summer. I still think the debt would be bigger because you're not paying as you go, you'd pay like one lump sum at the end and would need to take more loans.

That's what "Time Value of Money" is referring to, and it is a valid point (don't misunderstand my objections). You can't say, invest your money and make some interest because you'd have paid a lump sum to Mac/your landlord.

But...I think at the end of 4 years, whether you work gradually throughout, or full time right at the very end, you've still worked like 16 months, potentially at an even higher pay rate since you'd have your qualifications.

As for OSAP, I mentioned that because I assumed that not all universities were to change. Though I doubt that this would ever happen in NA anytime soon.

Yeah this definitely wouldn't be a "McMaster only" change. You'd have to change the entire plan for (at least) the province.

On a random side note, I wouldn't mind a first term reading week just to give the mind a rest.

I think that'd be an awesome idea...one week of sanity in first term, at the price of finishing April exams a week later?

Seems like a no-brainer to me. (:

I'm sorry if this was already mentioned earlier, but if you went to UofT this year, your exam period ended on MAY the 14th. That's right, MAY.

And lets not even get started on York.

Originally Posted by PTGregD

I'm sorry if this was already mentioned earlier, but if you went to UofT this year, your exam period ended on MAY the 14th. That's right, MAY.

And lets not even get started on York.

Lawl. I know people at York who ended like... at the end of May? Something like that.

I remember coming home to Toronto weeks before my friends at UofT got out, so yeah that's right.

But I guess the grass always looks greener on the other side, as idiotic as that can be at times.