FUNDING - OTHER - OSAP
OSAP is a governmentally funded program to help supplement tuition and other fees.
To find out if you are eligible, and to ensure your funding arrives in time to meet the payment deadline to your student account, you should apply online and submit your supporting documentation (signature pages, etc.) by the following dates:
GOAL: ONLINE APPLICATION/ SUPPORTING DOCUMENTATION SUBMISSION DEADLINE: - FALL/WINTER session = July 15
GOAL: ONLINE APPLICATION/ SUPPORTING DOCUMENTATION SUBMISSION DEADLINE: - SUMMER session - April 1
For more information on how to apply, please visit the Financial Aid and Scholarship website or the National Student Loan Services website.
NEW FOR 2013: If you have completed an OSAP application and have been notified of your eligibility, funds will be directly deposited into your personal bank account (provided with your OSAP application). Funds will NOT be sent directly to your McMaster Student Account on your behalf. You are responsible for making your own payment to your McMaster student account.
TIP
For most OSAP recipients who are registered in a full 8-month program, OSAP is released in two portions. Approximately 60% of the entitled funding is released in September, and the balance (approximately 40%) is released in January (provided course load is maintained). To keep payment plan fees and interest charges at a minimum, OSAP students should aim to pay 60% or more of their Total Net Fees from their Payment Agreement by September 15, and the balance before January 15, to correspond with the release of funding. See Payment Plans below.
What Payment Plan should I pick on the Payment Agreement?
Fall/Winter session
Option 1: PAYMENT IN FULL - to avoid interest charges and administration fees related to tuition, residence and meal plans. Payments must be made in full no later than September 1 (extension to September 15 for OSAP recipients)
Option 2: OSAP FLEX PLAN - this plan includes regular monthly interest charges and payment plan fees. A minimum payment will be required as calculated on the Payment Agreement (approximately 60% of the Total Net Fees) required no later than September 15. The balance of tuition, residence and meal plan fees are required no later than January 15.
Spring/Summer session
Option 1: PAYMENT IN FULL - to avoid interest charges and administration fees related to tuition, residence and meal plans. Payments must be made in full no later than May 1 (extension to May 15 for OSAP recipients)
Option 2: FLEX PLAN /OSAP FLEX PLAN - this plan includes regular monthly interest charges and payment plan fees. A minimum payment will be required as calculated on the Payment Agreement (approximately 60% of the Total Net Fees) no later than May 15. The balance of tuition, residence and meal plan fees are required no later than the last day of classes.
OSAP is administrated through the Student Financial Aid and Scholarship Office. For more information about OSAP, please contact the Student Financial Aid and Scholarship office at http://sfas.mcmaster.ca/