Why do I need to efficiently budget my meal plan funds?
If you’re living in residence, the cost of your meal plan will be due in two instalments – however, you will receive ALL of your meal plan dollars up-front when you move in.
How does the money get spent?
Understanding my meal plan:
Meal Plan and Taxable dollars
- Meal Plan on a tax exempt basis (you must have a valid Tax Exemption sticker on the back of your YU-card).
- Both Meal Plan and Taxable dollars are non-refundable.
- The difference is that unspent Meal Plan dollars will be transferred to the Taxable account at the end of the meal plan period, while unspent Taxable dollars carry-forward for you to spend in subsequent years (on a taxable basis) as long as you remain enrolled at York.
- This is your unlimited account: you can add money to it any time.
- Can be used to pay for items at the cafeteria, at the bookstore, for printing and photocopying, and even to access residence laundry machines.
- It is taxable, does not expire, and is refundable upon request.
How to cancel my plan:
Meal plans are not fully refundable and can only be cancelled if you elect to move out of residence, you will then have to contact the housing office. Please note that all refunds are subject to a $50 administration fee.
If you have leftover meal plan funds you cannot get a refund!
How do I budget my meal plan funds?
Your main goal should be to finish your meal plan dollars. How can you manage that? You will have to budget your meal plan funds, especially the Basic meal plan dollars.
Target Monthly Balances
Race to $0! What should your balance be (Meal Plan + Taxable) at the end of each month?
Average Daily Spending
How much would you have to spend per day with your Basic + Taxable dollars funds?
|If you use your plan…||Bronze||Silver||Gold||Platinum|
|7 days a week||$12||$14||$17||$19|
|5 days a week||$17||$20||$23||$26|
Tips from current students:
- There is a food bank in Residence (D-house Hiliard).
- Look at the prices at the cafeteria and at your eating habits to see how they compare to our budget; and make any necessary changes.
- Buy/rent a fridge if possible, this will allow you to keep snacks or breakfast item in your room.
- Pay attention to sales and student deals available in different shops in the city.
- Don’t forget that you can also go to the main campus to buy some foods; they have a big food court there with good prices.
- Be aware of how to use the money on your YU-card (taxable vs non-taxable items).
- Be at ease and enjoy the fruits of your planning – the hard part is done!
- Feel free to ask if you have any questions, we will try our best to help you out.
- Go to any residence events (twice a month), you can get free food.
Are you an OSAP student?
- Be aware of how OSAP will pay your fees (60% of your funds in September and 40% in January)
- Really important – do not forget to fill out and submit the Student Financial Profile!
- If you’re concerned that you won’t be able to pay all of your fees, please come see us!