Optometry and Financing - should I go to Optometry?

[yezijay]

Hi,

I'm a Canadian student interested in optometry. My family experience financial hardship that I'm receiving provincial loans for my undergraduate studies.
My question is, is it worth it if I go to U.S. optometry schools? Because I'm likely to end up with at least 200k debt being international, and even I can have a line of credit from bank, that only gives me max. 80k. The rest I'll probably have to borrow from other means - private loans, borrow money from relatives... If I do that, it will be very very hard for my family.. Plus even if I make 100k/yr after optometry school, after income tax it goes down to 71k/yr. It will take me a long time to pay back, and meanwhile my family will have to live on very tight budget.

On the other hand, I could go to nursing, and aim for Nurse Practitioners here in Canada. The tuition is lower. However I don't want to work as a nurse, they don't have autonomy. However I can aim for nurse practitioners, they do have autonomy, but I have to become a nurse for a few years first before that. This way the financial strain is less on my family, and once I become a nurse practitioner, I can make ~80k. And after tax, it's probably close just a bit lower to what OD makes.

I would want to make a note that I like biology and health care in general. I wanted to become a M.D. but my GPA is not competitive enough for Canadian schools. I would very much want to go to a profession that I'm passionate about, but my family situation has made me to seriously consider the financial sides of these careers as well.I want to fulfill my ambition but I also want to be able to provide my parents better lives. Also I have this thought behind my head that I want to make good money so my children won't be restrained by these factors as much when they grow up... Kind of don't want them to go through the same thing as I am right now.

I find myself interested in occupational therapy as well. But the job market is not that good and they only make 65k/yr..
I'm just very confused now. Life is hard and I have to be realistic.

Any input is appreciated!

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[achirum]

Money shouldn't be the ultimate factor in driving your desire to choose a profession. Yes, school is expensive, but if you plan ahead and manage your money and budget wisely, you can ensure the financial burden is as minimal as possible. Did you talk to your parents about this? How do they feel about providing you with money to help you along your way? Would it be impossible for them, or is your concern that you do not want them to have to sacrifice living comfortably for you?

 

[yezijay]

Thanks for your reply, achirum.
I have talked to them, they want to support me with everything they can. But they said they have to borrow money from their friends or siblings.. They want to make sure that this is what I really want and they are willing to sacrifice everything...
http://forums.studentdoctor.net/member.php?u=217158

 

[chocol8]

From previous threads I noticed that some people said RBC offered $150,000. Maybe you can look into that option. I also remember reading on here about someone who applied, and then deferred their enrolment at ICO for a year in order to earn some money. If you have outstanding debt from your undergraduate studies I'm sure some schools will let you defer.

 

[yyk]

From previous threads I noticed that some people said RBC offered $150,000. Maybe you can look into that option.

Yes they do offer $150,00 but only if you have a guarantor (I think this part is ridiculously difficult to accomplish, it's a LOT of pressure on one person and it also depends on the guarantor's income).. and about deferring 1 year, I think it's okay if you are fresh out of your undergraduate studies, but if you've been out for a bit long, it may become even more difficult to re-immerse yourself into intensive studying habits. Also, some schools immediately consider each student for every scholarship/bursary they have available...

 

[chocol8]

Oh okay thanks! I see you're from Canada, would you mind telling us what you think the best route is to take loans out?

 

[bballa99]

Bumping, I'm also from canada wondering what are good optometry schools to apply to?

 

[socal2014]

It doesn't really make sense.

I checked the RBC student line of credit site, and it does say they can fund upto 150k, but BMO, lists that 80k is the maximum amount they can fund for Optometry students (the 150k for only dentistry/medicine).

So my question is, where would I be getting the other 80k if RBC can only fund 80k?

Oh, before I forget, OP, you could consider applying to Waterloo. It is a lot cheaper than US schools I believe, so do check it out.

http://www.optometry.uwaterloo.ca/

 

[IndianaOD]

It doesn't really make sense.

I checked the RBC student line of credit site, and it does say they can fund upto 150k, but BMO, lists that 80k is the maximum amount they can fund for Optometry students (the 150k for only dentistry/medicine).

So my question is, where would I be getting the other 80k if RBC can only fund 80k?

Oh, before I forget, OP, you could consider applying to Waterloo. It is a lot cheaper than US schools I believe, so do check it out.

http://www.optometry.uwaterloo.ca/

Their GPA is WAY higher than most USA medical schools.

OP, are you sure you want to do optometry with the crap coming out of BC. One health minister is basically putting a dagger in the profession.