Financial Aid Options for Canadian Students Pursuing Optometry in the US

[LASIK3937]

Hi,


I was recently accepted. As per the I-20 requirement, I must submit proof of 1 year's worth of finance (tuition, equipment, living expenses, etc.). Based on the university's estimate, that is 82 000$ USD. I have received a scholarship and government student loan/grant, but I am still missing more than half of this amount as the scholarship and student loan are divided by year (so only 1/4 of the total approval counts). I have applied for a line of credit with TD, but the max any bank will give is about 125k, and again, it's divided into 4 years (I can only claim 32k for my visa). Has anyone been able to obtain a second loan (with a Canadian co-signer of course)? If so, where did you get the loan? I am not allowed to get two loans from two different banks.

Has anyone else struggled with financing their 4-year program?


Thanks,

Jacqueline

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[KHE]

Is that what it actually costs or do you just need to show that to satisfy a visa requirement?

 

[SGclassof2023]

its to satisfy the visa requirement, Im from Toronto also attending MCPHS and had to do the same, I actually took a loan in the states through citizens bank with an American family e=member as my cosigner

 

[Optogal]

I don't know the costs of being educated in the US but if it really will cost you 82 000 USD/year to get an OD degree, I'd suggest you find a different career. That debt load will paralyze you for the rest of your life. There are other "good" jobs in Canadian health care that don't require you to acquire a mortgage to pay for a degree.

 

[laughter95]

I don't know the costs of being educated in the US but if it really will cost you 82 000 USD/year to get an OD degree, I'd suggest you find a different career. That debt load will paralyze you for the rest of your life. There are other "good" jobs in Canadian health care that don't require you to acquire a mortgage to pay for a degree.

Using the data provided from ASCO, direct expenses + 1 year of cost of living estimate = $74,388 at MCPHS. So her demonstrating that she can afford 1 year at USD $82k is reasonable. Avg across all opto schools is $70k a year incl living expense estimates.

That said, other medical professions cost similarly, e.g. PA, DNP. Physician costs more but their pay makes a better ROI, if the nature of their work fits what you want. "Wanting to help people" is an expensive endeavor, at least in the US. What are better alternatives in Canada?

Alternatively, getting a top ten MBA or a 4-year undergrad degree in a good comp sci program is the best ROI currently. But this doesn't fit the "wanting to help people" that most healthcare hopefuls are looking for.

 

[LASIK3937]

Is that what it actually costs or do you just need to show that to satisfy a visa requirement?

I need to show that for the visa requirement. However, it is the school's estimate of tuition, equipment, fees, and living expenses. It's possibly accurate.