Funding for Medical School

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dyefront

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Hey everyone.

I'm a long time reader, first time poster.

I was just wondering if any of your Canadian Medical applicants had any advice about how I should go about dealing with my predicament.

I recently gained admission to UCC GEP 2011. I already have a LOC for 200K established. My dad was willing to co-sign using our home equity as leverage. Additionally I have applied for OSAP (appox 7k a year).
These funds should be sufficient for covering my tuition and housing for the next 4 years (with a little help from mum and dad). However I am concerned it may not be enough funding to support the cost of living (food, etc.).

I have contacted UCC and apparently there are no scholarships available for international students.

The way I see it my options are as follows:
1) Get a job on the weekends during mendical school to support the cost of living. Is this feasible? Will I have time to work on sat and sun nights if I'm in med school?
2) Apply for private loans to subsidize the living cost. These tend to have high interest rates and wont be easy to get considering I'm studying outside the country?

Seeing as how I already have OSAP can I still apply for a National Student Loan (NSLSC)?

Anyone with any ideas? Any help is greatly appreciated.

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i would go talk to the national bank of canada and ask for a second loc ~100k (effective in 2 yrs time once ur first loc runs out), I think they are more friendly than the other big banks in terms of loans:

http://www.nbc.ca/bnc/cda/productfamily/0,2664,divId-2_langId-1_navCode-16843,00.html?stab=2

let me know how it goes. You can also ask your parents to look into a home equity loan or line of credit. You can generally borrow up to 80% of the appraised value of your house or something, but since you already have a loc youll get less. Although im not sure if either option will work, I think its worth to look into.

good luck
 
Hey everyone.

I'm a long time reader, first time poster.

I was just wondering if any of your Canadian Medical applicants had any advice about how I should go about dealing with my predicament.

I recently gained admission to UCC GEP 2011. I already have a LOC for 200K established. My dad was willing to co-sign using our home equity as leverage. Additionally I have applied for OSAP (appox 7k a year).
These funds should be sufficient for covering my tuition and housing for the next 4 years (with a little help from mum and dad). However I am concerned it may not be enough funding to support the cost of living (food, etc.).

I have contacted UCC and apparently there are no scholarships available for international students.

The way I see it my options are as follows:
1) Get a job on the weekends during mendical school to support the cost of living. Is this feasible? Will I have time to work on sat and sun nights if I'm in med school?
2) Apply for private loans to subsidize the living cost. These tend to have high interest rates and wont be easy to get considering I'm studying outside the country?

Seeing as how I already have OSAP can I still apply for a National Student Loan (NSLSC)?

Anyone with any ideas? Any help is greatly appreciated.

You may have time to work now in the first part of the course, but it's tough enough to get a job as an Irish citizen, let alone someone from North America. Eventually, you will be happy you're not working because it gets too busy to have a job. Get the second line of credit, it's probably your best bet, but wait until second year or so.
 
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I'm really sorry you're in this position (I'm not far off it either) but all I can say is DON'T WORK. You won't be able to, you will fall behind with study, you won't be able to socialise with your class, you'll have a breakdown by Christmas. Trust me.

As another poster said, you would find it hard to get a job anyway :(

Good luck in securing $$$
 
Thanks for the advice. I think I'll go talk to the National bank and National Loan service. I have at least a couple of years before it becomes a real problem.

I figured working would be a bad idea. Med school is strenuous enough as it is.


I'll keep you guys posted.
 
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