Got into med school, but now I can't afford it. What do I do?

[iwantinmed]

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Dear all

I have a prettttty big problem. So I am from canada and I got into wayne state U last month. Recently I have been talking with my parents and trying to figure out how to fund my education and it seems impossible. Since the beginning of this year till now, the dollar has significantly appreciated, and my dad's businss has been doing so poorly due to the financial crisis that I just can't seem to secure any line of credit. As it stands, I need around 100 000 canadian a year (according to their website) and I just can't seem to pull it together. The only other source of funding is a measly 9000 dollar government loan. I am not eligible for scholarships or anything else US citizens can go for.

If I can't pull it together, what would happen if I decline and have to reapply later? It really cuts me inside to not be able to go, but I can't help but feel that declining an acceptance will look badly but I may have to do so to go work and then try again. I don't know what other sources of funding I can turn to. Any help?

 

[vin5cent0]

If you have to decline for economic reasons, then that's what you have to do. I've heard it looks bad to do so, but c'mon.. look at the economy. It's perfectly justifiable imo. Even more so if you can't secure a loan right now.

 

[216397]

Have you discussed this problem with the school's Financial Aid office? They might be able to help you think of some ideas.

Also, what about deferring your acceptance for a year? You don't have to turn it down; you could just wait to attend for an extra year.

 

[iwantinmed]

I can't rely on my parents to get me my line of credit, so i only didn't mention deferral because I may need to work full time for more than one year, give enough time for my parents to recover and then try again. Maybe I should contact the financial aid office, but not being a US citizen makes me ineligible for any kind of federal loan.

 

[216397]

I can't rely on my parents to get me my line of credit, so i only didn't mention deferral because I may need to work full time for more than one year, give enough time for my parents to recover and then try again. Maybe I should contact the financial aid office, but not being a US citizen makes me ineligible for any kind of federal loan.

I hope you figure it out somehow. :/ I've heard Canadian medical schools are really tough to get into.

 

[DrYoda]

Definetly talk to their financial aid office.

 

[BlueElmo]

Hope it works out. Keep us in the loop. It would definitely suck to not be able to attend for financial reasons.

 

[235009]

definitely talk to the financial aid office...did you at least take a shot at applying to canadian med schools concurrently? also, how did you fund your undergrad education?

 

[mmmcdowe]

Can you enlist in the Canadian (or maybe American?) military in exchange for financial support? What about service organizations that offer a similar deal? If you were a US citizen I know that these would be available for you, but I don't know if they work like this in Canada.

 

[gatoradedrinker]

Watch the movie '21'
...
and you will find the answer to your problem.

 

[pianola]

[OK, guys, I get the idea.]

 

[235009]

I'm kind of new/naive to these matters but: would you ever consider becoming a US citizen? Either during the deferral year or after your first year of medical school...

As a US citizen you can take out Stafford Loans and GradPlus loans, etc.

Just a suggestion -- it wasn't meant to offend.

you make it sound like he just has to walk into an office, go up to a window and say "i think i want to be an american now" and they hand him a US passport....it is quite a LONG road to become a US citizen....i think you need to be a permanent resident for ~5 years before you are eligible for citizenship and i'm almost certain that going to college here doesn't count.

 

[NotAndrew]

I'm kind of new/naive to these matters but: would you ever consider becoming a US citizen? Either during the deferral year or after your first year of medical school...

As a US citizen you can take out Stafford Loans and GradPlus loans, etc.

Just a suggestion -- it wasn't meant to offend.

Like skin said becoming a US citizen takes a long time. The fastest way to become a citizen is to marry an American but you still need to remain in the US for a minimum of 3 years after marriage.

 

[pietachok]

Sadly it's much easier to become canadian than american.

Definitely call the financial aid office to see what options they have for you.

However, i would also call the financial aid office at one of the canadian schools, to see if they will help you, or at least try to get a financial aid packet from one of their schools that lists the options. The US offers many NHSC scholarships for those who go into primary care in underserved areas...I can't imagine that canada is entirely without a similar program, but Wayne state might know nothing about it.

 

[aRnonymous]

Have you discussed this problem with the school's Financial Aid office? They might be able to help you think of some ideas.

Also, what about deferring your acceptance for a year? You don't have to turn it down; you could just wait to attend for an extra year.

The financial aid office is not very helpful at Wayne when it comes to Canadians. Part of the requirements before you begin school are proof that you can indeed pay for 4 years of medical school at their ridiculously high tuition rate. As a Canadian, you are not eligible for any aid that would be provided.

I'm kind of new/naive to these matters but: would you ever consider becoming a US citizen? Either during the deferral year or after your first year of medical school...

As a US citizen you can take out Stafford Loans and GradPlus loans, etc.

Just a suggestion -- it wasn't meant to offend.

Not possible. Its even impossible for him to become a US resident. The only way he could become a US resident in order to attend medical school is to either be adopted by a US citizen, which I am assuming he is too old to qualify for, or to marry a US citizen. Even so, the process takes awhile. Trust me, I looked into it since I am in a similar situation.

 

[mmmcdowe]

Can you enlist in the Canadian (or maybe American?) military in exchange for financial support? What about service organizations that offer a similar deal? If you were a US citizen I know that these would be available for you, but I don't know if they work like this in Canada.

Once again, I ask if these are possibilities for Canadians? Or maybe even working out a deal with a rural hospital to get your education paid for in part in exchange for a contract?

 

[dynezxice]

Watch the movie '21'
...
and you will find the answer to your problem.

Not to offend, but lame. 👎

fyi, even if the OP DID watch the movie and learn a few tricks up his/her sleeve, A) it is illegal not to mention its harder to pull off and B) require the OP to have money to go to Vegas for multiple times, which defeats the whole purpose of this thread.

 

[chiz2kul]

Dear all

I have a prettttty big problem. So I am from canada and I got into wayne state U last month. Recently I have been talking with my parents and trying to figure out how to fund my education and it seems impossible. Since the beginning of this year till now, the dollar has significantly appreciated, and my dad's businss has been doing so poorly due to the financial crisis that I just can't seem to secure any line of credit. As it stands, I need around 100 000 canadian a year (according to their website) and I just can't seem to pull it together. The only other source of funding is a measly 9000 dollar government loan. I am not eligible for scholarships or anything else US citizens can go for.

If I can't pull it together, what would happen if I decline and have to reapply later? It really cuts me inside to not be able to go, but I can't help but feel that declining an acceptance will look badly but I may have to do so to go work and then try again. I don't know what other sources of funding I can turn to. Any help?

Once again, I ask if these are possibilities for Canadians? Or maybe even working out a deal with a rural hospital to get your education paid for in part in exchange for a contract?

Hey,
I feel your pain cos I'm international too, and its prob twice as hard coming up a finances n such for med school. I got accepted to a couple good schools, but had to turn them down cos of finances.
Here's kinda my plan.
Scholarships. So few and so far btw, but yes you are eligible for some scholarships that your school may offer. Definitely follow the advice of above posters and contact the fin. aid office immediately.
Loans. You just have to do it. We're not eligible for any sort of federal aid, but def. private loans, although these are harder to get n interest rates are crazy or so I heard.

To the second, part, I think this is possible...but once again contact your school's fin aid ASAP. They'll have the best answers.
And yea, I think you can defer for a year if funds are a major issue.

 

[mca]

Sadly it's much easier to become canadian than american.
.

That is not true at all! I'm not sure what your basing your statements on.

Canadian citizenship is really hard to get - probably in large part to our publicly funded health care system. We don't let just anyone in.

 

[sleepy425]

Not to offend, but lame. 👎

fyi, even if the OP DID watch the movie and learn a few tricks up his/her sleeve, A) it is illegal not to mention its harder to pull off and B) require the OP to have money to go to Vegas for multiple times, which defeats the whole purpose of this thread.

First of all, card counting isn't illegal. Casinos hate it, but there can't be a law that says I can't pay attention and to the composition of a deck.

And also, UGH, the guy was KIDDING!! gatoradedrinker obviously doesn't expect the OP to go and learn to count cards! It was a joke, and in reality, when I saw the topic of this thread, I thought of the movie too (although it was mainly because I was annoyed during the movie because the guy could have easily gotten loans and the harvard scholarship or w/e the need based one is called, so he would've basically gone to harvard on $100k in subsidized loans. i was going to be annoyed with the OP for thinking he couldn't go to med school for financial reasons since loans are readily available for most students, but obviously, that doesn't apply to the OP since he's canadian and that throws a wrench in everything).

incidentally, to the OP, good luck, as many have suggested, maybe talk to the financial aid people, since schools usually have ways of getting the students they want to come there.

 

[MDBBLk]

DO NOT decline just defer a year and that will give at least some time to sort things out and find a solution within a 12 months period but reapplying is not an option it is much better defer to get some time and talk to the school adcom seek out for something also the army sponsorship maybe a good thing

what other school did u get into, in any case you have a year to find a solution only if you defer

BEST of luck

 

[MDBBLk]

also another thing once you attend teh school and make connections and become part of their institution they are obligated to help you IMO ?

 

[TexanGirl]

Are there any international student scholarships or international student loans available from your government or local organizations in Canada that you could use to fund your education?

 

[phospho]

also another thing once you attend teh school and make connections and become part of their institution they are obligated to help you IMO ?

yeah, but you can't become "part of their institution" unless you prove you can pay for the 4 years before you start 😉

 

[iwantinmed]

Thanks for the support guys, I really do appreciate all the feedback. I think my parents will be talking to my uncle to see what we can do. I don't know if anyone knows this, but what is the rule for deferral? what if I defer for a year but need another year after that? I don't want to decline. I don't want to be disadvantage when I apply again, and I don't WANT TO apply again because it was hell getting to this point as it is. I guess if it is meant to be, then it is meant to be.

There is one Canadian School that I am waiting on and it was a great interview. I hope I get in, but if not, then I might be running out of outs here.

There was a poster that asked how I intended to pay for medical school initially. Initially, the USD was on par with the CDN, so it was a lot easier. My parents were going to take out a line of credit for me, but now my dad's self-owned business has taken a serious hit, banks aren't lending as easily, and my dad's asset values make it even harder to take out a line of credit.

 

[cleothecat]

Canadian banks and the CMA will arrange up to $250,000 line of credit.

The cost of deferring school is approx $300,000 pr year if you become a GP in canada, over $400,000 per year for many specialties.

You will find a way.

 

[pietachok]

That is not true at all! I'm not sure what your basing your statements on.

Canadian citizenship is really hard to get - probably in large part to our publicly funded health care system. We don't let just anyone in.

Well, I would say it is...unless you're considering the naturalization test to be ridiculously difficult.

Currently, if you aren't married to a citizen, you have to live in Canada for 3 years to apply for citizenship but 5 years in the US. Obviously there are other factors.

Furthermore if you complete just 2 years at a Canadian college/university, they have a special means of granting citizenship that we don't have in the U.S., b/c you fall into the "Canadian Experience Class." So, if we had the same thing in the U.S., the OP would be able to apply for citizenship after M2 and his/her problems would go away when he/she got a permanent residency status.

Indeed, when I was in college, a good friend from Bangladesh graduated and struggled to stay in the US with employment visas and graduate education, while his brother just applied for Canadian citizenship after 2 yrs.

Canada isn't nearly as discriminating as you think when it comes to individuals educated there. If you are curious about it:
http://www.cic.gc.ca/english/immigrate/cec/graduates.asp

 

[nogolfinsnow]

I think we are going to see a bump in economic hardship deferments this year. I hope schools anticipate this.

I doubt this. The vast majority of medical students pay with Stafford and GradPLUS loans (given that one is a US citizen). Even if someone's parents were paying and they are no longer able or they were using savings and it tanked, you'd just apply for loans.