Adversary Posted June 24, 2007 Report Share Posted June 24, 2007 Hey Guys, For those of you who are accepted into UBC Medicine, the BC Student Loan application is now open. In fact, I applied last weekend and just check and found my loan is complete already. Hurry up! I have included the URL below. http://www.aved.gov.bc.ca/studentaidbc/ila/welcome.htm Link to comment Share on other sites More sharing options...
shaka84 Posted June 24, 2007 Report Share Posted June 24, 2007 Yes, I recieved my assessment too. They say I make too much money, my wife makes too much money, my wife has too many RSP's and that I should be able to pay for school, food, child care etc and by their assessment should have an extra 10 grand to spare this year! I think they have the same accountants Enron used! Total assessed need... $-10 500. So, wouldn't that mean I would be a good person to loan money to. In the governments eyes I am not worthy or needy enough. Royal bank LOC here I come. I am a little peeved to not qualify for atleast some interest free money. shaka Link to comment Share on other sites More sharing options...
Adversary Posted June 24, 2007 Author Report Share Posted June 24, 2007 If it makes you feel any better, the $23,000 clinic fee I have to pay on top of the $15,000 tuition is NOT recognize by the government. The $23K is not factored into my loan. Basically, I rely mostly on my LOC. RBC's happy for that. Link to comment Share on other sites More sharing options...
shaka84 Posted June 24, 2007 Report Share Posted June 24, 2007 That's brutal. All school fees should be included in their assessment. RBC is more than happy throw more money on the pile though. shaka Link to comment Share on other sites More sharing options...
Adversary Posted June 24, 2007 Author Report Share Posted June 24, 2007 Well, we're lucky banks have noticed us and even hire people to serve us exclusively. If it weren't for them, only the rich would be able to afford medical and dental school. Link to comment Share on other sites More sharing options...
NLengr Posted June 25, 2007 Report Share Posted June 25, 2007 I'm probably in the same boat. I worked this past year, and therefore won't qualify for NL student loans for medicine (although the govt won't shut up about how we need more docs here, and how they need to support those in the program). I was supposed to live off of $400 a month this past year they say. It's pretty sad that private institutions (banks) are the ones who are supporting the medical students in this country. Link to comment Share on other sites More sharing options...
Adversary Posted June 25, 2007 Author Report Share Posted June 25, 2007 NLengr, that happened to my colleague. She was a teacher before switching careers and because she was working up until the year she got into Dentistry, she was not able to obtain much financial aid. I am happy the banks are willing to support us, but I always fear the piling debt drives us all towards a less community-minded personae and more towards a financial mentality. Link to comment Share on other sites More sharing options...
DentistWannaBe Posted June 25, 2007 Report Share Posted June 25, 2007 hello, I am applying for US and Canadian dental schools at the same time. I havn't looked into financial aids yet since I am still waiting for acceptance. Let's say that I attend US dental school, am I still qualify for government student loan? thanks. Link to comment Share on other sites More sharing options...
Poolboy Posted July 2, 2007 Report Share Posted July 2, 2007 I just got my assessment and got it all - if you have a dependent the maximum you get is almost $20,000 - maybe everyone should have kids in med school I was also a teacher this past year and worked full time until just a week ago, but that didn't seem to go against me - I guess because I spent all my money and don't have an expensive car (I also threw some at my RRSP's to bring my assets down). I hope everyone got their application in before the 30th, that way you can get the UBC burseries, which I hear can get up to $5000 - I love free money (thanks taxpayers)! The apps for UBC burseries come out in mid-August and is needs-based. Bryan Hicks, the financial guy at UBC has been a great help for me, and if you have any questions that aren't answered on UBC's website call him or email him. Here is an email he sent me: As discussed, the government uses a very simple formula when assessing your student loan application. They approve/reject loan applications based on assessed financial unmet need. Here is how the formula works. educational costs – student resources = unmet need where EDUCATIONAL COSTS = (strict educational costs + living expenses [as defined by the Moderate Standard of Living Allowances])where STUDENT RESOURCES = (savings + assets [notwithstanding personal residence, motor vehicle up to $5,000, RRSP up to $2,000 per year for each year over the age of 18] + spousal contribution [where applicable] + parental contribution [where applicable] + student income contribution) The educational costs end of this equation is fixed by a) the University [strict educational costs] and the government [living expenses]. Therefore, the lower the “student resources” are the more “unmet need” you’ll have – and you’re loan amount may be higher. It is important to note that all of this is subject to maximums. For a first year MD student with a child, the maximum government student loan amount last year was $19,890. Student loan applications for the 2007/2008 year will be available starting on June 11, 2007. It is important to get your loan application submitted by June 30th in order to qualify for the UBC general bursary program (I’ll discuss this more later). Here is the link for StudentAid BC where you can find more information on GSL and the application form. http://www.aved.gov.bc.ca/studentaidbc/ Link to comment Share on other sites More sharing options...
Kuantum Posted July 2, 2007 Report Share Posted July 2, 2007 what's this about june 30th...don't know if saw that. i'm not applying for BC student loan applications so does that still apply to me? i've e-mailed bryan to confirm. Link to comment Share on other sites More sharing options...
Paule Posted July 2, 2007 Report Share Posted July 2, 2007 Hey Kuantum, You are only eligible for UBC bursaries if you have a student loan, and if you applied for it before June 30th. As poolboy was saying, there is a maximum amount of student loan they'll give you. When you get your student loan assessment they'll will have an estimate of your 'unmet need', ie the amount they've calculated you need, minus the maximum amount they'll give you. This amount is usually the amount of bursary that UBC gives you. Link to comment Share on other sites More sharing options...
Kuantum Posted July 2, 2007 Report Share Posted July 2, 2007 ****...i didn't apply before june 30th. i was reading on the ubc website..and it says this is only if you want your money in time for when school starts. does NOT applying by this date make you outright ineligible? Link to comment Share on other sites More sharing options...
Poolboy Posted July 2, 2007 Report Share Posted July 2, 2007 This is an email I got from Bryan, the financial Aid guy at UBC: "Bursaries and Scholarships The Office of Student Financial Assistance and Awards at UBC offers the UBC general bursary program. Applications for the 2007/2008 year will be made available in mid August and will be due by September 15th. In order to qualify for this it is critical that you get your GSL application submitted to the government by June 30th. Bursaries unlike scholarships are needs-based and are awarded primarily on your assessed unmet need." It sounds like you needed to get it in by the 30th - but if you didn't need a student loan then you probably wouldn't need bursaries. Link to comment Share on other sites More sharing options...
BMO guy Posted July 2, 2007 Report Share Posted July 2, 2007 Well, we're lucky banks have noticed us and even hire people to serve us exclusively. If it weren't for them, only the rich would be able to afford medical and dental school. haha..i think we are the ones who are lucky you have the need of our products and services Link to comment Share on other sites More sharing options...
Kuantum Posted July 2, 2007 Report Share Posted July 2, 2007 This is an email I got from Bryan, the financial Aid guy at UBC: "Bursaries and Scholarships The Office of Student Financial Assistance and Awards at UBC offers the UBC general bursary program. Applications for the 2007/2008 year will be made available in mid August and will be due by September 15th. In order to qualify for this it is critical that you get your GSL application submitted to the government by June 30th. Bursaries unlike scholarships are needs-based and are awarded primarily on your assessed unmet need." It sounds like you needed to get it in by the 30th - but if you didn't need a student loan then you probably wouldn't need bursaries. boo...okay..well..i've e-mailed bryan in case and almost done filling out my application. Link to comment Share on other sites More sharing options...
Paule Posted July 3, 2007 Report Share Posted July 3, 2007 Kuantum, The June 30th deadline is set so that you get your loan on time to meet the UBC bursary deadline of Sept. 15. They don't check to see the date on your loan application. However, when you're begging them to extend the bursary deadline for you because you haven't received your loan yet, they'll ask you when you submitted your loan application. If it was after June 30th, you are SOL. I think that if you submit the on-line application today and mail off your signed declaration tomorrow you should be okay. You owe me two cents... Link to comment Share on other sites More sharing options...
thisyear Posted July 3, 2007 Report Share Posted July 3, 2007 Kuantum, if youre not a resident of BC then you have to apply for the student loan from your home province. I dont think you are elgible for the provincial loan if youre not from BC. To get the bursdary though, I think you just need to apply for OSAP (if youre from Ontario) before June 30th. Did you do this? Thisyear Link to comment Share on other sites More sharing options...
dumdedum Posted July 3, 2007 Report Share Posted July 3, 2007 hey thisyear I applied for osap as well. I applied before june 30th but my application is still on hold - still waiting for UBC to send in the "Program Costs" info. *sigh*...hope i'll still be able to get those UBC bursaries. Did you get your final assessment yet? Link to comment Share on other sites More sharing options...
Dwayner Posted July 3, 2007 Report Share Posted July 3, 2007 Hey. I filled out my loan paper work pretty much the day it came out - june 11. I had my notice of assessment in my mail box the next week. Note that you need to get the max allowed to receive any bursaries... I do not see why you would have had to applied by the 30th of June though. It took one week to figure out what I would receive. So, if that is known, one should be able to apply for the busaries - no? I would think that there plenty of time. There is no way that if you apply for loans after the 30th of june you can not get bursaries. That would be most people, and everyone on the waitlist... I would not worry. I would also apply for the loans sooner rather than later. get er done. d Link to comment Share on other sites More sharing options...
Kuantum Posted July 3, 2007 Report Share Posted July 3, 2007 spoke with bryan today, and he told me to get it done ASAP...which I did. I already have the estimate and I should know for sure later this week. Link to comment Share on other sites More sharing options...
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