i had a question about osap.. im going for the osap release on august 26th.. and my balance forward is around 4 thousand something.. i was wondering if there is any way i dont have to pay it on sept 1st? would i hav to talk to a financial counsellor at mac when i go for pick up? im really worried because i dont know if im going to be able to make that big of a payment by the 1st of september :( can anything be done?

If you check OSAP as a method of payment on your payment agreement, then you DON'T have to pay on September first, because they know it takes a while for people to pick up their OSAP, and the lines of waiting and such

Originally Posted by xsanx

i had a question about osap.. im going for the osap release on august 26th.. and my balance forward is around 4 thousand something.. i was wondering if there is any way i dont have to pay it on sept 1st? would i hav to talk to a financial counsellor at mac when i go for pick up? im really worried because i dont know if im going to be able to make that big of a payment by the 1st of september :( can anything be done?

I would suggest talking to financial counsellor.

Also, you are probably paying in full. Perhaps trying to pay in instalments? Interest is calculated at the end of each month (1.2% per month) but it gives you more time to pay. Anyways, you can talk all about it with a financial counsellor to go through all your options.

Originally Posted by ~*Sara*~

If you check OSAP as a method of payment on your payment agreement, then you DON'T have to pay on September first, because they know it takes a while for people to pick up their OSAP, and the lines of waiting and such

That's not true. The balance forward is what you have to pay, the first OSAP pick-up has already been deducted from the tuition at that point.

If you pay the money before the end of september they wont charge interest (1.2% per month charged at the end of the month) and just the $35.00 penalty. So if it really tough paying i suggest you just not pay till before the end of sept that way you only get charged an extra $35.

Originally Posted by syaseen

If you pay the money before the end of september they wont charge interest (1.2% per month charged at the end of the month) and just the $35.00 penalty. So if it really tough paying i suggest you just not pay till before the end of sept that way you only get charged an extra $35.

That is true, but if you choose instalment payments your balance forward won't be as high, so you might be able to avoid the 35$ late fee.

Then you can pay off the rest before the end of September if you can and want to avoid the interest.

Does anyone know the extension to get a hold of a financial counsellor? I can't seem to find it in my undergrad calendar.

Originally Posted by gcruz91

Does anyone know the extension to get a hold of a financial counsellor? I can't seem to find it in my undergrad calendar.

http://sfas.mcmaster.ca/office.html

Counselling is Tuesdays to Thursdays but you should call to make an appointment.

Originally Posted by jhan523

http://sfas.mcmaster.ca/office.html

Counselling is Tuesdays to Thursdays but you should call to make an appointment.

I actually just had a quick question for them. Since I will be recieving an external partial scholarship, the cheque will arrive in mid-september. I listed it as one of my methods of payment on my payment agreement so I was wondering whether I had to pay for the amount of the scholarship myself by september 1st, or if I would be able to wait until I cash in the cheque that is sent to me. I wanted to know if anyone was in this situation from a previous year.

and thanks for the link