Hi

Well, its gonna be my first year as an engineering student in Mac.

I got OSAP of about $11,700 ( including all grant and loan) out of which they will give $7072 in September and remaining amount in jan.

whereas , on my payment agreement total amount including fees, hostel and meal plan .. is $16, 455, since i m getting $7072 in september and remaining amount in jan. means that i have to pay $9382 from my side this September, if i dont want to pay any interest right now.. i was thinking most of the money is get paid by osap..

i called financial aid office... they said, maximum amount u can get is 11,700$.. although one of my frd got around $15,000 last year.. dont know how...

well $9382 is too much amount for me to pay in September.. its a big worry for me... any suggestion or advice???

Thanks

Man, 16 grand?

I think what's best for you is the installment plan, an initial amount in September and then the rest in January.

Is your initial amount the 9382? Hmm.

Maybe the monthly plan is actually best for you, so that you're offsetting the amount you have to pay in September. The interest is not that high, and you should consider all the options.

I got something like 11, 240 last year from OSAP. I heard around 11 grand is the highest you can get. I sort of doubt your friend got 15,000.

If even the monthly plan doesn't work for you, they're not going to keep you from attending. Talk to the people at Student Financial Aid and Scholarships and they will try and help you out.

Originally Posted by feonateresa

Man, 16 grand?

I think what's best for you is the installment plan, an initial amount in September and then the rest in January.

Is your initial amount the 9382? Hmm.

Maybe the monthly plan is actually best for you, so that you're offsetting the amount you have to pay in September. The interest is not that high, and you should consider all the options.

I got something like 11, 240 last year from OSAP. I heard around 11 grand is the highest you can get. I sort of doubt your friend got 15,000.

If even the monthly plan doesn't work for you, they're not going to keep you from attending. Talk to the people at Student Financial Aid and Scholarships and they will try and help you out.

yes its 16 grand..actually its 17 grand.. 600$ already paid as deposit for residence.. i got les prince single room, meal plan and engineering 1 courses in that cost.. its tooooo much... i wonder.. do every student who stays in residence pays that much and have to give so much money from his pocket??

well do u hv any idea .. whats the interest?

Originally Posted by endearing66

yes its 16 grand..actually its 17 grand.. 600$ already paid as deposit for residence.. i got les prince single room, meal plan and engineering 1 courses in that cost.. its tooooo much... i wonder.. do every student who stays in residence pays that much and have to give so much money from his pocket??

well do u hv any idea .. whats the interest?

Are you an international student? That might be why. Meal plans are expensive too, did you get the lightest one or? I didn't choose to live on residence last year for this reason for the most part.

The interest is 1.2% a month, or 14.4% annually. That interest is only put on the remaining amount of money, after you pay the initial amount on September 1st.

Read this. http://www.mcmaster.ca/bms/student/p...ment_plans.pdf

They say near the bottom that if you can't pay off your tuition this year, you can get a deferment - but you have to talk to someone ASAP.

Originally Posted by feonateresa

Are you an international student? That might be why. Meal plans are expensive too, did you get the lightest one or? I didn't choose to live on residence last year for this reason for the most part.

The interest is 1.2% a month, or 14.4% annually. That interest is only put on the remaining amount of money, after you pay the initial amount on September 1st.

Read this. http://www.mcmaster.ca/bms/student/p...ment_plans.pdf

They say near the bottom that if you can't pay off your tuition this year, you can get a deferment - but you have to talk to someone ASAP.

no i am not an international student.. my fee structure is same as Canadian citizen .. i took medium meal plan cost 2900$.. well 14.4% is too much as interest..... i really need to talk with them personally.. otherwise its gonna be big burden...

HOLY CRAP! How is your tuition so high then??? You do need to talk to them.

I've heard from many many people that they always end up with left over money from their meal plan, so maybe you can opt for a lighter one?

Originally Posted by feonateresa

HOLY CRAP! How is your tuition so high then??? You do need to talk to them.

I've heard from many many people that they always end up with left over money from their meal plan, so maybe you can opt for a lighter one?

i know its toooooo high.. its really screwed me.. the minimum meal i can take is for 2500$ ...400$ difference... they charged me $7307 for tution.. 1104 supplementary fees.. 5668 for residence and 2975 for meal.. totals.. 17055,, i m gone!!!!

Haha calm down, once you talk to someone you'll get it all figured out. You'll be at Mac in a few months attending classes and meeting people and it will be alright. Just no frivolous spending haha.

It's Engineering that's high I think, plus a single room. Oh! Maybe you can opt out of the Dental and Health plans as well (Those are in your supplementary fees). 400 dollars is more than you think, every little bit helps. Call someone first thing in the morning... er Monday morning.

Hmm. I know last year depending on the res it was around 4500$. Try to change to a cheaper res, will save you about $1000-1500

Go with the cheapest meal plan aswell

Engineering 1 has the most expensive courses. It's over 200$ per unit that you take so if you're taking like 37 units that's a huge chunk of money. I'm going into my third year of engineering and my tuition this year, with the supplementary fees, is about 8500$.

Also for res, their is even cheaper than 4500$ but you would end up in a triple room if you really wanted something as cheap s possible. I'm not sure if you can switch your res assignment though.

11700 is the most you can get. trust me.
Your friend who got 15000 probably got the QEII scholarship.

i'm getting $12228

I got told.

well it does depend on what you select, your parents income and your program as well. Like, they ask you how much a return ticket costs for travelling from Mac to your home.
But generally it is around $12000

also, the 11700 is an estimate. I have not received more than that over the past few years.

Around the same.

How do people afford the extra costs then?