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Financial Success

The key to financial success at McMaster:

 

1. Plan your finances ahead of time

 

2. Seek deadline dates and work them into your financial plan

 

3. Don't wait for deadline dates to arrive to start any process - start everything early

 

4. Execute your financial plan by making your payments on or before deadline dates

 

5. Manage your account by reviewing regularly (we recommend monthly).

In order to manage your own student account effectively and continue your studies with no delays, it’s your responsibility to keep your account in good status. You can manage effectively by regularly reviewing their account to ensure that all charges are as expected, all payments have been received and all balances owing are paid in full prior to all financial deadlines.

Getting started:

PREPARING FINANCIALLY FOR SCHOOL____________________________________________________________

 

Presented as a pilot for the 2016-2017 academic year, McMaster's Smart$tart program was designed to help student and parents plan for the financial responsibilities of being a McMaster student. While this was a presentation by invitation and the narrative is not included, the following pages will help you make your own Smart $tart plan.

 

An ongoing initiative brought to you by Student Success Centre, Student Accounts & Cashiers and Financial Aid & Scholarship.

 

 

Smart Start

 

 

MANAGING YOUR STUDENT ACCOUNT WHILE YOU ARE HERE______________________________________

 

 

The Student Accounts & Cashiers (SAC) - A Do-it-Yourself Financial Guide for Students and Parents. All you needed to know to manage your account successfully in one little booklet! Included are tips and tools to cost-savings and keeping your student account in good financial status! Ask your department/faculty for a copy or visit us in Gilmour Hall 209 for questions and discussions.

 

 

 

ENROLMENT DATES______________________________________________________________________

 Undergrad students

 

ENROLMENT DATES TERMS
June to September Fall and Winter terms
March to May Spring/Summer term

**Dates TBD each year

 

Graduate students

 

ENROLMENT DATES TERMS
August September to August (12 months)

**Graduate students who require enrolment for a January or May start will need to discuss enrolment opportunities with Grad Studies

 

PAYMENT DEADLINES--------------------------------------------------------------------------------------------------

 

Undergrad & Graduate students

 

Sept 1 Term 1 Tuition/supplementary fees/residence/meal plan - due in full
Sept 22 Term 1 Tuition/supplementary fees/residence/meal plan (OSAP recipients only) - due in full
     
Jan 1 Term 2 Tuition/supplementary fees for January start students - due in full
Jan 22 Term 2 Tuition/supplementary fees for January start students (OSAP recipients only)- due in full
     
May 1 Spring/Summer Tuition/supplementary fees (Undergrads) - due in full
May 22 Spring/Summer Tuition/supplementary fees (Undergrad OSAP recipients only) - due in full
May 1 Term 3 Tuition/supplementary fees for May start Graduate students - due in full
May 22 Term 3 Tuition/supplementary fees for May start (Graduate OSAP recipients only) - due in full

 

 

How to access and read your account

Once enrolled, there are 3 places a student can go for financial account information:

 

Log on to Mosaic > Student Center (tab) > Finances section

 

  • 1. Under “My Account” > Account Inquiry. This will show balances by term.
  • 2. In the drop-down menu called “other financial….” Select “Account Activity”, then click Description: Description: Go. This will show all account activity including charges payments received.
  • 3. In the drop-down menu called “other financial….” Select “Charges Due”, then click Description: Description: Go. This will show individual charges with due dates.

 

TIP: Click “”View All” as these lists maybe longer than what first appears

 

NOTES: The student account shows all financial activity as it pertains to their education at McMaster. All fees including tuition, residence and meal plan charges show in real time. Also listed will be payments received, scholarships, bursaries, purchases and other miscellaneous financial activity. This is where students will monitor any balance owing at any time of the year.

 

When can I access it?

Every student has access to their account 24/7 starting when they first enroll to a few months after they graduate. It's every student's responsibility to check their account right after enrollment to ensure that all the charges appear as expected, all payments have been received and all balances are paid.

 

Why should I access my account during the year?

Each student is responsible for all activity on their account and being aware of any balance owing. Other charges/credits may appear on the account during the year that are not associated with enrollment (i.e. library fines, replaced ID card charges, bookstore purchases, bursaries etc). To keep accounts in good financial status, review your account once a month, starting right after enrollment.

 

Will I receive a bill/invoice?

No. Students can print invoices directly from their Student Center.

 

Parent information

McMaster employees are bound by FIPPA (Freedom of Information Privacy Protection Act). Our staff will be happy to answer any general account questions, however, we will be unable to discuss any specific account details with anyone other than the student. To view your child's account, you must make arrangements with your child. More information on FIPPA can be found on our web site at: http://www.mcmaster.ca/bms/student/SAC_FIPPA.htm