Guest gonzo23 Posted July 21, 2004 Report Share Posted July 21, 2004 Hi guys, So I just got my OSAP funding approved for first year med. In my funding I've received a Canadian Millenium Bursary (didn't know I'd even applied for it). I'm just curious if anybody else received this and whether they were able to receive it again in upper medical school years? Sure is nice to know that $3000 won't have to be paid back even if it's only for one year! As well, there are plenty of other awards that seem to be available. Is there anybody out there who got something aside from regular OSAP loan funding that medical students should be aware of (which might require a separate application persay?). Thanks. Link to comment Share on other sites More sharing options...
Guest tweep0 Posted July 21, 2004 Report Share Posted July 21, 2004 I received $3000 as well (i'm going to first year meds). When you apply for OSAP, there is an option that you tick indicating that you would like to be considered for a Millennium Bursary. Most people receive around $3000. However, you can receive more or less. I'm not sure about other bursaries other than this one and those given by individual medical schools. Would be interested to know any others, although I doubt there are any. Tweep Link to comment Share on other sites More sharing options...
Guest Elaine I Posted July 21, 2004 Report Share Posted July 21, 2004 Congrats to both of you on the bursary! As a matter of curiousity, did you both receive the maximum OSAP amount? I'm wondering if you have to have a great amount of need to receive the bursary, or just some need. (I most likely will not be eligible for more than about $5000 of OSAP my first year, if I am successful at getting in.) Thanks for the info, Elaine Link to comment Share on other sites More sharing options...
Guest Nikhila Posted July 21, 2004 Report Share Posted July 21, 2004 Hey Elaine, I did not receive the maximum amount of OSAP (only about $4700) and I received the Canadian Millenium Bursary. I have a couple of questions regarding OSAP semantics: It seems we have to fill out some paperwork in order to actually get the money. As this is my first time applying for OSAP, I was wondering how long it actually takes until one gets their loan money, providing the required paperwork is filled out in a timely fashion. The initial jubiliation I felt when I first saw that I was enrolled in the MD program on ROSI has now been replaced by a sinking feeling at how much money I am gonna owe :\ Link to comment Share on other sites More sharing options...
Guest McMastergirl Posted July 21, 2004 Report Share Posted July 21, 2004 I got the $3000 millenium bursary all 3 years of med school. Link to comment Share on other sites More sharing options...
Guest aneliz Posted July 21, 2004 Report Share Posted July 21, 2004 This is my third year getting a millenium bursary... it is worth $3000 in Ontario...so either you get $3000 or you get $0. As for filling out the paper work... the actual paper work takes about 10 minutes... it is just the HUGE lines at the beginning of the school year to get it done that take time. At least at UWO they separate out the Meds OSAP so that we don't ahve to line up with all the other undergrads. After the paperwork is done, the money should be to the school (or in your account) within about 10 days. Link to comment Share on other sites More sharing options...
Guest gonzo23 Posted July 22, 2004 Report Share Posted July 22, 2004 To Elaine, My situation is almost exactly as Nikhila's... same amount of funding. I have no idea if I got max. OSAP... this is my first time applying as well. Glad to hear there's a chance we could be getting this bursary for 3 years at least. The little dent it'll put in our debtload is still comforting. Cheers. Link to comment Share on other sites More sharing options...
Guest oO0chickpea0Oo Posted July 22, 2004 Report Share Posted July 22, 2004 Usually you only get considered for the Millenium bursary if you've received more than $7000 in funding, however I think that considering the fact that you're entering medicine, you might not need to have $7000 in osap funding to get the bursary (simply because you're paying so much). ~pea~ Link to comment Share on other sites More sharing options...
Guest tweep0 Posted July 22, 2004 Report Share Posted July 22, 2004 Hi Elaine I got the max amount ($11000) from OSAP: $8000 OSAP loan and $3000 Millennium Bursary. The bursary is need-based so you may need to have high 'need' in order to receive the bursary. ( i guess i didn't need to have so many 'needs' in that previous sentence ). Tweep Link to comment Share on other sites More sharing options...
Guest MDHopeful04 Posted July 22, 2004 Report Share Posted July 22, 2004 Hi Tweep, I just sent you a private message regarding OSAP and bursaries. MDHopeful04 Link to comment Share on other sites More sharing options...
Guest Nikhila Posted July 22, 2004 Report Share Posted July 22, 2004 Usually you only get considered for the Millenium bursary if you've received more than $7000 in funding, however I think that considering the fact that you're entering medicine, you might not need to have $7000 in osap funding to get the bursary (simply because you're paying so much). I received $7700 in total from OSAP, including the millenium bursary. So my actual OSAP funding was $4700. I think you are absolutely correct about the criteria being different for med students. I wonder if, like aneliz said about western, toronto has a separate line for students in medicine... my gut feeling tells me no and to bring a good book along with me to the financial aid office :\ Link to comment Share on other sites More sharing options...
Guest gonzo23 Posted July 22, 2004 Report Share Posted July 22, 2004 I'm just curious why I wasn't considered for more OSAP funding. I got just a bit more than Nikhila giving me around $8200. Is previous debt considered an asset when determining OSAP eligibility? (ie. if I had outstanding student loans entering medical school would that make me eligible for more funding?). Just curious b/c really I have very few assets and so am not sure why I wasn't eligible for more since parental income isn't a factor now. But I am free of any current student loans. This is my first time applying for OSAP. Needless to say I'm happy to receive whatever I can from the gov't.... Link to comment Share on other sites More sharing options...
Guest Kirsteen Posted July 22, 2004 Report Share Posted July 22, 2004 Hi there, I just spoke with the OSAP folks re: the CMB. There are two criteria for students to receive this: 1) high need; 2) the student must be in second year at least. Supposedly they have ~2,000 CMBs to give out each year and to do so they create a needs-based rank of all students who have indicated that they would like to be considered for it. They then select the top 2,000 students and provide them with the CMB's $3,000 each. Cheers, Kirsteen Link to comment Share on other sites More sharing options...
Guest aneliz Posted July 22, 2004 Report Share Posted July 22, 2004 If you are a single student (not married, no kids) and you have been out of high school for 5 years then the max OSAP funding you can get is $275 per week of your study period. For most med students, this is ~$11 000 per year (Sept-late May/early June) and $14 300 for those of us that go all year (3rd years and Mac). If you have 'assets' - cars worth >$5000, GIC's, RRSP's, other investments, substantial savings, etc these will be counted against you and your OSAP will be decreased. If you get a millenium bursary...it *replaces* some of your OSAP funding... you can't get max OSAP AND a millenium bursary on top of it. So, if you were assesed for max OSAP, you would get $11 000. If you got a millenium bursary (worth $3000), you would still get $11 000, but $3000 of that would be bursary and not loan. Link to comment Share on other sites More sharing options...
Guest bananacreampie Posted July 22, 2004 Report Share Posted July 22, 2004 When you say OSAP is this including Federal Gov't loans, or did you guys get some from federal on top of your $11,000 provincial loan? thx, bcp Link to comment Share on other sites More sharing options...
Guest summerbeach Posted July 22, 2004 Report Share Posted July 22, 2004 This estimate includes both federal and ontario loans in one lump sum Link to comment Share on other sites More sharing options...
Guest dr deelish Posted July 23, 2004 Report Share Posted July 23, 2004 For those of us going to UT .. anyone know anything about UTAPS ? I heard that's another $2000 for students that are eligible for OSAP funding ... www.adm.utoronto.ca/fa/UT...CS_Ont_res Link to comment Share on other sites More sharing options...
Guest bananacreampie Posted July 23, 2004 Report Share Posted July 23, 2004 In Alberta at U of C, the max is 29,000 but I don't think too many people get the max. I think it is 17,000 for a four year program. I am amazed how low the OSAP max is. Link to comment Share on other sites More sharing options...
Guest gonzo23 Posted July 23, 2004 Report Share Posted July 23, 2004 Bananacrampie... are your figures per/year or total? $17000/year is really high for a student loan for just one year... but kinda low for 4 years. Crazy! Link to comment Share on other sites More sharing options...
Guest bananacreampie Posted July 24, 2004 Report Share Posted July 24, 2004 Hey, That is just for one year! Obviously a lot of people aren't going to be eligible for the full amount, but it is possible I guess. I know people in the Calgary program (3 yrs, full-year round) that got upwards of 25,000 student loan for 1 year. cheers, bcp Link to comment Share on other sites More sharing options...
Guest aneliz Posted July 24, 2004 Report Share Posted July 24, 2004 The reason that the OSAP max is so low is: 1. They will not recognise any more that $4500 in tuition as an 'allowable' expense... so you are on the hook for the rest of it. They say that the schools are responsible for providing financial aid for any tuition in excess of $4500... but it doesn't happen. 2. They have not increased the OSAP amounts since 1991... meanwhile, tuition and living expenses have gone up substantially since then. This has been a source of friction between students and various provincial governments for quite a few years... and there is no sign of movement yet! Now, the amount of allowable tuition recognised by OSAP will not even cover regular undergrad tuition, so hopefully there will be some increases now that ALL of the undergrads are in the same boat as the med/dents/law/business students! Link to comment Share on other sites More sharing options...
Guest bj Posted July 25, 2004 Report Share Posted July 25, 2004 Hey, Here's the deal with UTAPS. It's in addition to the other bursary money (Millenium Bursary) and is usually around $2000 if you get maximum OSAP. In addition, the school calculates (don't ask me how) the amount of interest you will pay on your student line of credit and cuts a cheque for that amount in addition to the $2000--again, if you qualify. Some people got a lot more than $2000, more like $3-4,000 but others like myself only got marginally more ($2200) despite incredibly high need (2 students + no income = VERY big debt). It's a bit of a @#%$ shoot. Oh--and the lines at U of T aren't that long because: 1) you're there before the rest of the university starts frosh week and 2) most of our paperwork is done through our very own office of Admissions and Awards. Paying $17k a year does have some perks. bj Link to comment Share on other sites More sharing options...
Guest Nikhila Posted July 27, 2004 Report Share Posted July 27, 2004 Thanks for the info bj, I'm glad that we won't be facing horrendous line-ups Quick question about UTAPS: is there a special application that we need to submit for it? I just filled out the online UTAPS application and at the end of it I was given a summary of my application and the amount of money I am eligible for. But there was no 'submit' button or anything. Are we automatically eligible for UTAPS if we get OSAP? Thanks, Nikhila Link to comment Share on other sites More sharing options...
Guest glo Posted July 27, 2004 Report Share Posted July 27, 2004 About the maximum of OSAP...i got $10450 OSAP, plus a $3000 Millenium bursary. The bursary doesn't look like it affects the max amount of OSAP you get. Link to comment Share on other sites More sharing options...
Guest aneliz Posted July 27, 2004 Report Share Posted July 27, 2004 Max OSAP is $14300 for a 52 week program (ie Mac)... max OSAP as a single student with no dependents that you can get $275 per week (x 52 weeks = $14300). Your millenium bursary will be part of your total OSAP assesment... check the 'breakdown' carefully. Unfortunately, the Ontario gov't decided to use the millenium bursary to 'replace' some of the OSAP loan, rather than continue to give you your loan and then add a bursary on top. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.