Class of 2010

[Guest drjuliuserving]

Hi guys,

I thought I might as well start a thread for everyone who's going to Ottawa in the fall to get to know each other, talk about the program, where to live and how excited we are.

 

Anyone want to start?

[Guest SaraKJ]

Sure, I start

Forum Name: Sara

Actual Name: Azadeh (F)

Coming form Toronto, but lived in Ottawa for 3 years. I plan to look for a place in AltaVista which is very close to school. I have the experience with the heavy snows in Ottawa so try to be close to school as possible. For some details regarding the 1th yr program, please click here p090.ezboard.com/fpremed1...=256.topic

I am still asking for the sources of financial aid as I am sure OSAP does not cover much of the living and tuition fees. Any suggestion???

I am a physical therapist from Queens, so anyone with chronic neck, back pain or bad posture ,for studying sooooooo hard, is welcome for advise or Exs:lol . I may try to find a part time job if have free time for extra money.

I have to repeat CPR some time in July in Toronto. Any one wants to join me? Please send me an email to nava_life5@yahoo.com. I can call and organize a class if we are more than a few people.

Cheers

Sara

p.s still think I am dreaming about the whole thing:eek

[Guest Talon01]

You'll receive a 3500 educational bursary in first year (aka the laptop bursary).

 

You can also contact banks regarding a LOC. Most people seem to be with RBC or MDM.

[Guest winthrop123]

Hey,

Does everyone receive the 3,500 bursary regardless of where you are from etc.? When do you apply for this?

Thanks

[Guest satsumargirl]

You do not need to apply for this bursary. It is automatic and goes to anyone who qualifies for any amount of government student loans regardless of your province of origin.

[Guest Talon01]

Yup, the bursary is an automatic one if you receive OSAP (or whatever it's called in your province).

[Guest Yangzie]

if i do not qualify for OSAP...would this mean that i'm ineligible for any kind of bursaries?

 

Would this mean I need to go to a bank for loans?

[Guest satsumargirl]

Hi Yangzie,

 

Most medical students have an LOC with a bank regardless of qualifying for students loans since even if you get the max OSAP it doesn't even cover your tuition. The 2 major ones that will compete for your business are RBC and National Bank (through MD Management), though you can get LOCs at pretty much any bank...just shop around to see who is competitive in terms of your needs and convenience of location for where you will be etc... Do not accept a rate that is higher than prime. Bursaries will help but they probably won't alleviate your need for an LOC.

 

Unless you are still considered dependent on your parents it is likely that you would qualify for some OSAP. I didn`t think I would but surprisingly I did. I didn`t qualify for the provincial portion because they don`t actually take into account your actual tuition (there is a just a set max in their calculation at like 4k or something ridiculous) but the fedreal portion does look at your actual expenses and in medical school they will be high.

 

So apply to OSAP and see what happens...even if you qualify for only $100 of OSAP you will get the $3500 bursary mentionned above.

 

Other than that there is one for medical/law students designed to cover the interest you would be paying on your LOC...so that helps. You give them a budget and a copy of your LOC account etc...

 

Other than that I don`t really know of other bursaries to tell you about. But you can make an appoitment at student financial services/aid...whatever it is called...and they will outline your options and even go over OSAP with you. I did that after I was accepted and found it helpful.

 

Getting an LOC can be daunting...but we all do it and learn to live with it!

 

Sats

[Guest Maelswarm]

Is it true that UO gives out very little after 1st year, but they will cover your interest from the LOC? Is the interest-coverage given to everyone, or some conditions apply?

[Guest Talon01]

There is an interest relief bursary. From how I understand it, you need to qualify for OSAP (I think) and have a LOC (duh!). However, from talking to classmates it seems like the amount given out is one 500$ cheque.

 

After first year there are many scholarships and bursarys available for you to apply for, they don't just 'give' it away.

[Guest avarrin2001]

Are there reallly LOCs at prime?! I just applied for one at TD and the rate was prime +1%, i thought that was good....

 

TD also gives an LOC of $30,000/yr up to a max of 120,000 and you have to reapply each year. You only make payments on the interest while you are in school and for up to a year after, then you make payments on the principal.

 

Can anyone tell me if this seems good? (It seemed good to me, which is why I applied) Are there betteR?

[Guest 0T6]

DONT TAKE IT!!

 

DUDE RBC and MD Management give med students 150K (RBC) or 50K*4years (MD) at prime, no drama! If TD's your regular bank and you want to stay with them, print out the info from RBC and show it to them and demand that they give you the same deal or you're leaving.

[Guest Talon01]

Yea, RBC will give you 150K upfront (you don't have to reapply) and it's at prime. I'd suggest you give them a call. If you need a contact of someone who specializes in the professional student LOC who works in Ottawa PM me and I will hook you up.

 

But like my bestest friend 0T6 said, don't take it (especially considering how much the prime rate alone has increased since last year )

[Guest avarrin2001]

sheesh! that is crazy! I thought i was getting a good deal.... thanks for the info. I have a feeling that my bank doesnt deal with med students very often at all, the person i was talking with was basically reading the info all off the internet to me....

How do I get in contact with MD Management? I am afraid the RBC in my town will be just as new at this as the TD, and I should probably go somewhere a little more experienced.

[Guest satsumargirl]

yeah, that isnt a good deal at all ...but a step in the right direction for TD. Last year they did not offer a med student LOC at all. Just the usual student LOC which had a minimal max of something like 20k (maybe!! I can`t remember ). The TD reps were even embarrassed about it as they sent me to RBC!! Nice to see they did something about it, but they are far from competitive...that plus 1% is huge!!

 

MD Management :

1-866-333-2580 (they can tell you where there is a consultant near you)

 

website is : http://www.md.brs.cma.ca

 

You will need to join the OMA at least on your first visit to MDM (they will have the forms for you) and it's $20 for the year.

 

Oh! It really doesn't take that long to get your LOC approved. So if you wanted you could wait until you get to Ottawa to set your LOC up. I set mine up orientation week. Actually RBC and MDM were both at the school last year during orientation week, so it was pretty convenient!