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Getting Started

1) How much money do I need to bring?

Keep in mind that if you are receiving OSAP, you will not receive your first installment until at least the first day of classes.  Most often however, it can take a number of weeks before your OSAP amount is available to you.  Remember to plan ahead!  Below are reminders of some of  the costs you’ll need to keep in mind for the beginning of the year.

  • First and last month’s rent
  • Utility deposits
  • Books
  • Minimum tuition payment
  • Fees
  • Groceries
  • Locker
  • Parking
  • Connection fees
  • Transportation before bus pass is issued
  • Personal care needs (laundry soap, shampoo)

2) Should I get a credit card?

Here are some helpful tips to consider about credit cards.

How do credit cards work?

Credit cards are debt, not extra income. Credit cards are not like other loans, which have set monthly payments over a fixed period of time. With a credit card you are only required to make a minimum monthly payment, which can continue indefinitely. When you use a credit card and you don’t pay off the balance you are reducing your future buying power.

Are you ready for a credit card?

• Do you really need a credit card?

• Can you afford a credit card?

• Can you handle the responsibility?

• Are you committed to paying off the unpaid balance at the end of each month or paying more than the minimum payment? Credit cards are useful in emergencies or when you can pay off the balance at the end of each month. Think about what you buy with your card. If you are not able to afford the item now, chances are you won’t be able to afford it in three weeks when the bill arrives. If you decide to apply for a credit card, shop around. Look for the best deal. It will have:

  • Low interest rates
  • Low or no annual fees
  • A grace period (time during which no payments are due) before finance charges apply
  • Other benefits like Air Miles or warranties on purchases

Our advice is: Use your credit card for necessities only

Set your credit limit to a reasonable amount…for example $500. You will find if you pay the balance of your card off at the end of each month that the credit card company will increase your credit limit. You can ask that your limit remain at $500.

• Don’t take cash advances

• Make payments on time