Hi everyone! I'll be starting 1st year med at UBC in August. I'm hoping to get some insight into StudentAid BC since I have never had student loans before.
My partner and I moved in together in November 2017 & become "common-law" according to the CRA one year later in November 2018. I have to declare being common-law on my application, which means I must include my partner's financial information on my StudentAid BC application because they consider us "married". According to StudentAid BC, my spouse must make a "contribution" to my education based on their finances. I find this silly given our situation and I don't expect my partner to give me money for my education. We already declared common-law to the CRA for our 2018 taxes and it would be fraud to claim that I'm single. I am 25 years old, independent from my parents, and have no previous student loans of any sort.
1) Has anyone been denied SudentAid BC because their spouse's financial situation? My income in 2018 was $0 because I have been a student for undergraduate and graduate studies (however, I had $12,500 in scholarships in 2018). My common-law partner's income in 2018 was $75,000. In applying for StudentAid BC, we also have to include information like the vehicles we own: I own a beater but my partner owns a "nice car" if you know what I mean.
2) Do we need to have StudendAid BC loans to be eligible for UBC bursaries? If I'm denied StudentAid BC and only receive an LOC, can I still apply for a bursary?
3) Do we have to provide proof of a rental agreement? We have a more casual living situation because we are so fortunate to live in a family member's apartment. Would StudentAid BC be able to find out if we don't pay rent?
4) Does StudentAid BC and UBC bursaries know how much money we have in our savings account? I'm wondering if it would be a good idea to buy a bunch of my school supplies etc. now to reduce the savings I have before applying for student loans and bursaries.
Any advice would be greatly appreciated! I realize it's icky to discuss such personal financial information, but I'm sure there are other medical students out there who have similar experiences.