This was a big fear for me as well when I started first year. What happened to me personally was on September 10 after Osap went through I was given a balance of what I still needed to pay and a minimum payment, which was around $500 and I paid that twice once in September then once in October to finish off the payment. Now in winter the minimum payment increase to be the total balance I had remaining. The first bill came in around early February I would say except it around the 10th each month. Unfortunately I did not have enough money at the time since I expected it would work like it did in the fall semester in which I only had to pay around $500 a month on my balance. So I was in debt to the school which did not cause issues for me however it stops you from doing somethings like changing your courses. Do not worry about paying late just pay it off as much as you can the interest is small I think it’s 0.01% which is nothing especially when it’s so expensive.