MacInsiders Logo

Similar Threads
Thread Thread Starter Forum Replies Last Post
Osap Release. kwantaekeyz Financial Aid 1 06-08-2011 09:06 PM
OSAP release SciMania Financial Aid 4 01-22-2011 03:19 PM
OSAP release cjdzl Financial Aid 7 08-19-2010 06:56 PM
OSAP Release Angoose Financial Aid 10 08-12-2010 11:41 PM
OSAP release sinnersdrown Financial Aid 7 08-11-2010 05:26 PM

when is osap being release?

 
Old 07-31-2011 at 09:00 PM   #1
737300173
Member
Join Date: May 2011
Posts: 95

Thanked: 0 Times
Liked: 0 Times




when is osap being release?
i'm gonna be using the osap payment method and when i loggin to mugsi payment agreement i dont know which amount i'm suppose to pay before september 1st, since the earliest payment deadline i see on the site for me is september 30th
Old 07-31-2011 at 09:09 PM   #2
Bhaltair
Elite Member
Join Date: Aug 2009
Posts: 405

Thanked: 36 Times
Liked: 158 Times




1. Did you apply for OSAP, submitted signature pages, and received a letter stating what you will be getting?
2. If 1. is checked, did you check the OSAP box in MUGSI? It should tell you what OSAP will cover.
3. Pay the rest, MUGSI should be very clear about that.
Old 07-31-2011 at 09:12 PM   #3
particle
Elite Member
Join Date: Aug 2010
Posts: 451

Thanked: 94 Times
Liked: 30 Times




Pay the amount stated beside the due date September 30th.
Old 07-31-2011 at 09:18 PM   #4
737300173
Member
Join Date: May 2011
Posts: 95

Thanked: 0 Times
Liked: 0 Times




Quote:
Originally Posted by particle View Post
Pay the amount stated beside the due date September 30th.
what i dont get is that for this part it says Due Date Amount
BASED ON YOUR OSAP ESTIMATE, THIS IS THE AMOUNT WE WILL DEDUCT but the amount that it says there is a different amount that i saw on the osap reassessment letter
Old 07-31-2011 at 09:20 PM   #5
particle
Elite Member
Join Date: Aug 2010
Posts: 451

Thanked: 94 Times
Liked: 30 Times




Quote:
Originally Posted by 737300173 View Post
what i dont get is that for this part it says Due Date Amount
BASED ON YOUR OSAP ESTIMATE, THIS IS THE AMOUNT WE WILL DEDUCT but the amount that it says there is a different amount that i saw on the osap reassessment letter
They only deduct your fees with 60% of your OSAP entitlement, maybe that's why its different? You don't pay anything before September 1st because you aren't paying in full (the only option where there's no interest charges).

Edit: To answer your topic question, OSAP is 'released' or 'picked-up' by you during the first two weeks of school. I think its on-going during welcome week, so it might be a good idea to go then and not have waiting in the long line interfere with classes. I've found going early in the morning (1 hour or 30 minutes before it opens) helps

Last edited by particle : 07-31-2011 at 09:23 PM.
Old 07-31-2011 at 09:29 PM   #6
737300173
Member
Join Date: May 2011
Posts: 95

Thanked: 0 Times
Liked: 0 Times




Quote:
Originally Posted by particle View Post
They only deduct your fees with 60% of your OSAP entitlement, maybe that's why its different? You don't pay anything before September 1st because you aren't paying in full (the only option where there's no interest charges).

Edit: To answer your topic question, OSAP is 'released' or 'picked-up' by you during the first two weeks of school. I think its on-going during welcome week, so it might be a good idea to go then and not have waiting in the long line interfere with classes. I've found going early in the morning (1 hour or 30 minutes before it opens) helps
sorry but when do i receive the other 40%? so basically does my osap amount goes straight to the school or it goes to my account and then i pay the school?
Old 07-31-2011 at 09:35 PM   #7
Bhaltair
Elite Member
Join Date: Aug 2009
Posts: 405

Thanked: 36 Times
Liked: 158 Times




Quote:
Originally Posted by 737300173 View Post
sorry but when do i receive the other 40%? so basically does my osap amount goes straight to the school or it goes to my account and then i pay the school?
The 60% goes towards McMaster in the fall, if you pay the rest of the tuition by the 30th, as in paid in full (mine is September 1st oddly), you will get the 40% in the winter. If you hadn't paid in full, the 40% goes to McMaster as well.

Hope this helps.
Old 07-31-2011 at 09:51 PM   #8
particle
Elite Member
Join Date: Aug 2010
Posts: 451

Thanked: 94 Times
Liked: 30 Times




Quote:
Originally Posted by Bhaltair View Post
The 60% goes towards McMaster in the fall, if you pay the rest of the tuition by the 30th, as in paid in full (mine is September 1st oddly), you will get the 40% in the winter. If you hadn't paid in full, the 40% goes to McMaster as well.

Hope this helps.
For OP, you don't have to pay in full because you chose the OSAP flex plan that is why your due date is different. The idea is McMaster is accepting payments as your OSAP comes in if you cannot pay in full by September 1st.

So here's what it all looks like after you've applied and everything:

BY SEPTEMBER 30:
1. Pay whatever McMaster has asked you to pay (~60% of your net fees)
2. Pick UP OSAP (within the first two weeks of school)

BY JANRUARY 15th:
1. Pay whatever's left of your net fees
2. Pick up OSAP (within first two weeks of coming back from xmas holidays)

Again, the idea is because you don't have enough money to pay in full, McMaster is allowing you to pay as your OSAP comes in. As you can see each due date is around when OSAP is released so that when you get the money from OSAP then, you can pay McMaster. Your first installment of OSAP (the one you get in September goes directly to McMaster). The final installment (in January), can be put into your bank account or you can give it directly to McMaster.

Keep in mind you can keep paying what's left to pay as the year goes on so you don't pay as much interest. ie. Pay whatever you can whenever you can.
Old 07-31-2011 at 10:28 PM   #9
vinny06
Member
Join Date: Jul 2011
Posts: 60

Thanked: 5 Times
Liked: 3 Times




Just a quick question: if you do 'pay what you can so the interest doesn't add on' and you pay off the remaining 40% before the second osap release occurs, do you get paid that 40% back from osap? (osap would deposit the amount in your bank account and it would stay there?)
Old 07-31-2011 at 10:57 PM   #10
particle
Elite Member
Join Date: Aug 2010
Posts: 451

Thanked: 94 Times
Liked: 30 Times




Quote:
Originally Posted by vinny06 View Post
Just a quick question: if you do 'pay what you can so the interest doesn't add on' and you pay off the remaining 40% before the second osap release occurs, do you get paid that 40% back from osap? (osap would deposit the amount in your bank account and it would stay there?)

Yes. In fact you have a few options with the 40% left from OSAP. When you pick it up you tell the person what you want to do with it. So if you want it in your account, have bank information ready. A void cheque will do. Or you get the numbers by asking your branch. You'll need stuff like institution number, transit (branch) number and account number.

So to make sure there's no confusion: The 40% left that OSAP didn't give you yet is basically still with OSAP, and not McMaster.

When the second release comes along you may wish to give it to McMaster to help you pay for the rest of the fees.

If you need another explanation I'll be glad to give one.
Old 07-31-2011 at 11:03 PM   #11
vinny06
Member
Join Date: Jul 2011
Posts: 60

Thanked: 5 Times
Liked: 3 Times




Quote:
Originally Posted by particle View Post
Yes. In fact you have a few options with the 40% left from OSAP. When you pick it up you tell the person what you want to do with it. So if you want it in your account, have bank information ready. A void cheque will do. Or you get the numbers by asking your branch. You'll need stuff like institution number, transit (branch) number and account number.

So to make sure there's no confusion: The 40% left that OSAP didn't give you yet is basically still with OSAP, and not McMaster.

When the second release comes along you may wish to give it to McMaster to help you pay for the rest of the fees.

If you need another explanation I'll be glad to give one.
Thanks for the clear explanation. Basically, I can pay off the remaining 40% to limit the interest and be reimbursed for that when the second OSAP release comes along, correct?
Old 07-31-2011 at 11:39 PM   #12
jhan523
Moderator
MacInsiders Staff
Join Date: Jun 2008
Posts: 12,484

Thanked: 1,629 Times
Liked: 604 Times




Quote:
Originally Posted by vinny06 View Post
Thanks for the clear explanation. Basically, I can pay off the remaining 40% to limit the interest and be reimbursed for that when the second OSAP release comes along, correct?
Yes.

1. Pay the first amount in Box 6.
2. Pick up OSAP in September and make the money go to McMaster
3. Pay as much as you want by Jan (there's an exact deadline in Box 6) (If you choose different plans there may be an exact schedule in the rest of Box 6. I don't know if McMaster still does the monthly/instalment plans though).
4. Pick up OSAP in Jan. If you still owe McMaster money then make it go to McMaster. If you don't then make sure you bring your banking information.
__________________
Jeremy Han
McMaster Alumni - Honours Molecular Biology and Genetics
Pennsylvania College of Optometry at Salus University Third Year - Doctor of Optometry
Old 07-31-2011 at 11:44 PM   #13
particle
Elite Member
Join Date: Aug 2010
Posts: 451

Thanked: 94 Times
Liked: 30 Times




Quote:
Originally Posted by vinny06 View Post
Thanks for the clear explanation. Basically, I can pay off the remaining 40% to limit the interest and be reimbursed for that when the second OSAP release comes along, correct?
It's not really a 'reimbursement' it's just whatever is 40% of your OSAP, which may not necessarily be 40% of your net fees.
Old 08-01-2011 at 12:34 AM   #14
Leeoku
Moderator
MacInsiders Staff
Join Date: Jul 2010
Posts: 2,998

Thanked: 277 Times
Liked: 526 Times




osap starts being released like the week before or during school starts. if u can pay it all at once so no interest accumulates
Old 08-01-2011 at 01:54 PM   #15
MacAttk
Senior Member
Join Date: Jul 2010
Posts: 241

Thanked: 22 Times
Liked: 38 Times




Quote:
Originally Posted by Leeoku View Post
osap starts being released like the week before or during school starts. if u can pay it all at once so no interest accumulates
Ya, you can go process your paperwork a week in advance to get your OSAP faster. HOWEVER, you will never get your OSAP before school starts. You physically get your money approximately a week after school starts.



Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off



McMaster University News and Information, Student-run Community, with topics ranging from Student Life, Advice, News, Events, and General Help.
Notice: The views and opinions expressed in this page are strictly those of the student(s) who authored the content. The contents of this page have not been reviewed or approved by McMaster University or the MSU (McMaster Students Union). Being a student-run community, all articles and discussion posts on MacInsiders are unofficial and it is therefore always recommended that you visit the official McMaster website for the most accurate up-to-date information.

Copyright © MacInsiders.com All Rights Reserved. No content can be re-used or re-published without permission. MacInsiders is a service of Fullerton Media Inc. | Created by Chad
Originally Powered by vBulletin®, Copyright © 2019 MH Sub I, LLC dba vBulletin. All rights reserved. | Privacy | Terms