Osap Q

[TheGoods07]

I'm going to third year at Ryerson and will be using OSAP for the first time. Now the amount of money that I will be receiving has been split into two (Released in September and January). Now my question is, would it be possible to recieve the whole amount in September so I could pay my tuition since I have to pay everything by September? Or is this not possible.

[MrSquirrel]

I don't think it's possible. They usually want to make sure you're taking a full year so they split the funding in 2 different time periods. UTSC allows us students to defer our fees, letting us pay the amount at a later date, maybe Ryerson offers something like that?

[a_y3n]

Are you sure that you have to pay the full tuition by Sep.? Usually they make you pay only the minimum amount and the rest in Jan. Also, it's not possible to get the full amount.

[PrimoTurbo]

No I don't think it's possible. Why do you need to pay the full amount? Doesn't Ryerson have a minimum amount that you can pay per a month to not get extra charges. Also you are exempt from having to pay in September because I think OSAP you only get it in late September early October, but check your papers I’m not 100% on that.

[napasah]

It's not possible. At U of T, if the Sept installment of OSAP doesn't cover your tuition fee, it's up to you to pay the remainder before the school starts to charge interest, or you have to pay the interest.

[hymack]

I would go to the Regestrar's office and discuss your financial options. At UoGuelph, if you're late with payments it will cost you $60. However, if you approach them first they sometimes waive the fee depending on the situation.

[Eyies]

UofT starts charging interest Nov 15th, monthly compounded 1.5%. But it's really not that bad. Say if I paid my minimum of $5,403.13 (to get registered) out of the full $8,312.52. That's (8312.52-5403.13)*1.015*1.015= $2,997.33 versus $2909.39. So you lose out on eh, $90 or so, if you REALLY had to wait till Januaray 1st, '07 for your funding.

[divx]

UofT starts charging interest Nov 15th, monthly compounded 1.5%. But it's really not that bad. Say if I paid my minimum of $5,403.13 (to get registered) out of the full $8,312.52. That's (8312.52-5403.13)*1.015*1.015= $2,997.33 versus $2909.39. So you lose out on eh, $90 or so, if you REALLY had to wait till Januaray 1st, '07 for your funding.

monthly rate of 1.5% is quite high, that's 18% a year, similar to a credit card rate.

[ramaslamma]

forget OSAP work ur ass off and make some money boy!

[divx]

forget OSAP work ur ass off and make some money boy!

school is a bit expensive