What do I need to do between today and September to prepare for University? Welcome to Finances Matter! Welcome Day August 6, 2010 Presented by: Office of Student Financial Aid & Scholarships (SFAS) Student Accounts & Cashiers (SAC)

What do I need to do between today and September to prepare for University? FIPPA: Freedom of Information and Protection of Privacy Act Respecting your privacy and your personal information is a priority for us. McMaster University’s management of personal information is governed and bound by the Freedom of Information and Protection of Privacy Act (FIPPA) All students will be required to provide their Student ID card when requesting information or when picking up documentation Parents, family and friends will NOT be provided with any personal information. They may make payments only if they have your Student ID card or number Students must give signed authorization when requesting transcripts or certification of enrolment letters or forms Students are encouraged to look up information online through MUGSI and to use their McMaster address for all correspondence within the University

What do I need to do between today and September to prepare for University? Office of Student Financial Aid & Scholarships (SFAS) Gilmour Hall, Room 120 (905) ext | web:

What do I need to do between today and September to prepare for University? Office of Student Financial Aid & Scholarships We are more than the OSAP office! Visit us for: Federal & Provincial Student Aid Programs (e.g. OSAP) Entrance, In-course & External Scholarship Programs University Bursary Programs Work Programs Confidential Counselling Budgeting Strategies & Tips GET TO KNOW US… WE’RE HERE TO HELP !

What do I need to do between today and September to prepare for University? As you begin University … Tip #1: You Must Apply to Qualify! oDid you apply for OSAP? Did you know that by applying for OSAP you could be eligible for our bursary and work programs and the Provincial Textbook & Technology Grant? Apply today, it’s not too late! Apply less than 45 days into your study period to ensure maximum entitlement. Tip #2: Be Aware! Monitor Your OSAP Application Online. oHas your application been submitted properly and has it been processed? Monitor your application online under “Check Status” at All supporting documentation and signature pages must be forwarded to SFAS for processing.

What do I need to do between today and September to prepare for University? As you begin University … Tip #3: Lacking Proper ID …? oIn order to pick up your loan, you must be a fully registered student, and you must present the following identification … PLUS one of:

What do I need to do between today and September to prepare for University? As you begin University … Tip #4: We Want to See You! oDon’t be shy! You must pick up your loan document in person with proper ID and your banking information. Watch our website for OSAP release dates, times and locations. Get to know us … Our knowledgeable and friendly staff will be happy to help you with your financial questions and issues. Liz Mary Anita

What do I need to do between today and September to prepare for University? As you begin University … Tip #5: When It’s Not Enough! »Funding too low? If you don’t think you have enough money and did not receive the maximum OSAP assessment, drop in to see a Financial Aid Counsellor to review your OSAP application and investigate if there are appeals available to you. Tip #6: There Are Programs Available to Students With Permanent Disabilities »Contact the Centre for Student Development or a Financial Aid Counsellor in SFAS for details on programs available to students with permanent disabilities.

What do I need to do between today and September to prepare for University? As you begin University … Tip #7: Report Changes! oYou must report any changes in status to SFAS in order to maintain your eligibility for loans, bursaries, scholarships and work programs For Example, - Change in Personal Income - Parental Earnings - Marital Status - Address Change - Drop/add courses - Program changes - Withdrawal from school - etc. Change Happens!

What do I need to do between today and September to prepare for University? Undergraduate Entrance Scholarships … Did You Know …? Your award can be seen on MUGSI under “My Financial Aid & Scholarships” and, once paid to your student account, it is available as a payment option on your “Payment Agreement”. In order to retain your award, you must remain registered as a full-time student (minimum 24 units). A transcript notation of your achievement will be available in January.

What do I need to do between today and September to prepare for University? Undergraduate Entrance Scholarships … If you have any questions about your entrance award or should you require a scholarship letter, please contact

What do I need to do between today and September to prepare for University? The Mystery Behind Bursaries … Mystery #1: What is a Bursary? A bursary is funding for students who demonstrate FINANCIAL NEED; it is not a loan and does not require repayment. Mystery #2: Where Do Bursaries Come From? Bursary funding is made possible through institutional funding and generous donors to McMaster. If you receive a donor bursary, PLEASE write a thank you note to the donor and we will deliver it for you; they love to hear from the students they support.

What do I need to do between today and September to prepare for University? The Mystery Behind Bursaries … Mystery #3: How Do I Qualify and Where Do I Sign Up? oTo be considered, you must have applied to a Federal or Provincial Student Aid Program such as OSAP or otherwise demonstrate significant financial need. Applications are available on-line through MUGSI; please check our website for application dates and deadlines at You may receive only one McMaster bursary per academic year.

What do I need to do between today and September to prepare for University? Work Programs and YOU … Provide a way to supplement your income while you are studying – 10 hours per week on campus possibly in your area of study Allow for flexible scheduling in order to make your academics your first priority Are located where you are - on campus Present you with the opportunity to build a relationship with your University Offer you the ability to develop work-related skills and habits Look great on your resume Work Programs …

What do I need to do between today and September to prepare for University? Work Programs and YOU … An application is just a click away. Apply on-line through MUGSI starting August 1st for fall/winter work-study and March 1st for summer work (*note: in order to qualify for fall/winter work-study, you must have applied to a Federal or Provincial Student Aid Program such as OSAP or otherwise demonstrate significant financial need) Jobs are posted regularly on-line at Opportunities include (but are not limited to): oResearch Assistant oDaycare Assistant oLibrary Support oWebsite Assistant oAdministrative Assistant oMedia Library Clerk oPersonal Trainer/Fitness Leader oGrounds Keeper

What do I need to do between today and September to prepare for University? Be A Budget Builder! Budgeting is about understanding how much you earn; how much you spend (on what!); and the difference between your income and expenses. Use our interactive budget worksheet “BUDGET BUILDER” or play our on-line budgeting game “BUDGET BONANZA” to see if you are a financial survivor! Avoid Financial Stress! Use your budget as a spending plan and take control of your finances.

What do I need to do between today and September to prepare for University? Preparing A Budget Know & understand the resources you have and the expenses you will have to pay Plan ahead! Sit down with your parents and develop a REALISTIC budget BEFORE school starts Stick to your budget carefully so that you can make it through the year; don’t forget about the December holidays and reading week! Keep track of bills and pay ALL bills on time! If expenses are greater than resources, you must figure out how you are going make up the difference (ie. work more or spend less). This may mean revisiting your budget plan and making adjustments. Avoid purchasing on credit

What do I need to do between today and September to prepare for University? IF YOU USE YOUR OSAP TO BUY…. With the accumulated interest over the standard 10 year amortization… YOU ARE ACTUALLY PAYING (approximately)… …a $2 coffee $ 3.07 …a $20 CD $ …a $10 PIZZA $ …a $50 DINNER $ …a $100 MP3 player $ …a $500 gym membership $ …a $1000 trip for spring break $ The Cost of Paying With CREDIT

What do I need to do between today and September to prepare for University? Cost Saving Tips Comparison shop to get the best deal for your dollar (e.g. shop around for the best cell phone plan) Clip coupons Take advantage of student discounts Make your daily coffee or tea at home Carry a reusable water container and drink tap water Find clubs and engage in activities that are fun without cost (e.g. organize a walk/run/hiking group and simply enjoy the outdoors)

What do I need to do between today and September to prepare for University? Student Accounts & Cashiers (SAC) Gilmour Hall, Room 209 (905) ext Website: Our website is your #1 source for Fee and Student Account information! Visit often for important Messages, F.A.Q.’s and Dates and Deadlines you need to know. Special features on our website include; a Parents Page geared specifically for parent-related questions, a Video to help familiarize you with navigating through your Online Account Statement and quarterly Newsletters with helpful reminders and tips.

What do I need to do between today and September to prepare for University? Student Accounts & Cashiers We are responsible for FINANCIALLY REGISTERING each student In addition, we are responsible for all funds received by the University The FLEX Plans!! Now much simpler and more flexible to help students with different financial abilities meet their account responsibilities (overview and tips slide coming up). Travelex allows students to pay in the currency of their choice. A 72-hour exchange rate guarantee provides time to initiate payment through your bank. Payments can be made directly through MUGSI or by clicking the "Pay Now" button on the Payment Agreement or Account Statement. It’s a quick and convenient way to make your payments without incurring the service fees or delays of conventional international wire transfer! Student INTERAC Online payments can be made directly through MUGSI or by using the “Pay Now” button on your Payment Agreement and Account Statement. Your payment will appear in the Account Statement INSTANTLY! We are centrally located in Gilmour Hall, Room 209; Our friendly Customer Service Representatives and Credit Counsellors are available to help with in-person, phone or inquiries

What do I need to do between today and September to prepare for University? Helping You Account for Your Student Account! 1. ONLINE Communication! Enable your McMaster – this is our way to communicate with you. Activate your MacID and log on to MUGSI to access many of the systems below and much more! Check BOTH regularly 2. Make sure your ONLINE registration is complete – “Confirm” your ONLINE Payment Agreement. It’s “Part 2” of your SOLAR registration It’s a mandatory part of the registration process It’s a payment contract between you and McMaster (The PA acts as your “bill”) It’s changeable / updatable until September 1 st Be sure to scroll down and read the Payment Schedule, Messages and Terms & Conditions.

What do I need to do between today and September to prepare for University? Helping You Account for Your Student Account! 3. Check your student Account Statement ONLINE – regularly please! Log on to MUGSI Click on “My Student Accounts and Cashiers” Click “Account Statement” Select the start month you wish to see and click “Submit” WHY should you check regularly? – It’s your responsibility to: ensure your payments have been received, verify all financial activity, be aware of any balance and know your financial status. It’s easier to resolve issues as they happen rather than after the fact! Need help navigating? Watch our video: 4. Tax Certificates - ONLINE (T2202A) Log on to MUGSI Click “Tax Certificates” Read the important T2202A information Click “Tax Certificate” for the year required Not able to view? See our Tax Special Edition Newsletter:

What do I need to do between today and September to prepare for University? Helping You Account for Your Student Account! 5. Make your payments ONLINE! INTERAC Online or Travelex Make an INTERAC Online or Travelex payment through MUGSI or click the “Pay Now” button from your Payment Agreement or Account Statement for convenient, easy and secure ways to pay your fees Online/Telephone Banking 1.Log on to your bank’s website and select “Online Banking” 2.Add McMaster University as a “New Bill” to pay. 3.Enter your 7-digit student ID # as the requested “account” number. 4.Payments take 3-5 business days to show in your Account Statement. oWhy stand in line? It’s safe and secure. INTERAC Online, Travelex or Online / Telephone banking are McMaster’s preferred methods of payment!

What do I need to do between today and September to prepare for University? Now That Your Payment Agreement is Complete, What is Next? You will not receive an invoice. Please refer to your Payment Agreement for your tuition, residence and meal plan fees during the registration period and to your student Account Statement for the rest of the year (by logging into MUGSI). Here you can view ongoing financial activity and balances. Your Account statement will be available to you 24/7. oWe have learned that one of the biggest concerns of parents who want to be involved in the payment process is that they are unable to access the student’s personal account information. In this case, it is a good idea to discuss with your parents what their expectations are, and print off a copy of the statement whenever needed. Be sure to follow up with your payment as outlined in the Payment Schedule and Messages section on the Payment Agreement. The following date should be noted: SEPTEMBER 1st 1. All payments from “Balances Forward” outlined in your PA are due on this date. 2.Changes/updates to the online payment Agreement can be made until this date. 3.All Payment Agreements confirmed after this date will be charged a Late Registration Fee of $50.

What do I need to do between today and September to prepare for University? Flex Plan Overview 1. $35 Flex Plan fee - charged per term (Oct 1 st / Feb 1 st ) as long as fees are not paid in full. 2. All plans are subject to monthly interest charges on balances not paid in full by the end of September. FLEX Plan - OSAP. Designed for students using OSAP as a Funding Option (as selected on your Payment Agreement), corresponding to OSAP release dates.  60% of total fees are due in your student account no later than September 30 th  OSAP loans must be negotiated in-person by September 18 th in order for funds to arrive in your student account by September 30 th  Balance of fees are due no later than January 30 th to avoid second per-term Flex Plan fee FLEX Plan – 1 Term. Designed for students who are only registered in Term 1 or who want to minimize their interest and per-term Flex Plan fees.  50% of total fees are due no later than September 1 st  Payments can be made anytime, in any amount between Sept 2 nd and December 15 th FLEX Plan – 2 Term. Designed for students who would like to spread their payments into the second academic term.  25% of total fees are due no later than September 1 st  Payments can be made anytime, in any amount between September 2 nd and March 15 th For ALL FLEX PLANS, paying more than the required amount by September and not waiting until the end of the term to pay off the balance will decrease your interest charges, and help minimize administration fees.

What do I need to do between today and September to prepare for University? Thank You for Your Participation! Questions & Answers…

What do I need to do between today and September to prepare for University? Contact Us Office of Student Financial Aid & Scholarships Gilmour Hall, Room 120 (905) ext | web: Student Accounts & Cashiers Gilmour Hall, Room 209 (905) ext web: Still have questions? Look for the ‘Ask McMaster’ tool on our websites