Understanding Your Funding

In the new graduate pay model tuition is due term-by-term on September 1st, January 1st and May 1st.  Interest on tuition will not begin to be collected prior to the second last business day of those months.  Each student will receive their lump sum (whole term) scholarship payment by mid-September, mid-January and mid-May.  Each student receiving a research scholarship payment will get a lump sum (whole term) payment by mid-September, mid-January, and mid-May.  Bi-weekly employment payments will continue.  

In this model, all money goes out to the student and students are solely responsible for paying their tuition.

Example for Fall 2016 (which assumes that a student has TA, research scholarship, and scholarship support):

September  1:

  • Tuition for term is due

Mid-September:

  • Bank deposit of all "research scholarship" (i.e. grant-sourced support) pay for term
  • Bank deposit for first two weeks of TA pay
  • Bank deposit of all scholarship pay for the term Sep 28 - Interest begins to accrue on balance outstanding in student account.

End of September:

  • Bank deposit of second two weeks of TA pay

For more information about how to understand the funding you've received, please consult material available at the link below.  Pressing 'See it' at the top of the page will start the guide.

https://mosaictraining.mcmaster.ca/course/view.php?id=140