drcameron Posted August 6, 2007 Report Share Posted August 6, 2007 Hey Everyone! Just found out my funding from OSAP and I think I've been ripped off! My original estimate was $11,000, however now I am only getting just under $7000 (plus the Millennium Bursary). I was kind of relying on that $11,000 and now I am kind of thrown for a loop financially. I would like to use interest-free OSAP rather than my LOC. Does anyone know if the original estimate when you fill out your app includes the Millennium Bursary? Is anyone else in a similar situation? Shouldn't someone paying nearly $18000 in tuition receive the maximum OSAP? I do not have any assets like a car in my name or anything. I have a good summer job but have not managed to save anything substantial. Any insight?? Any idea if I can have my application reassessed? Thank for any help!! Stupid government! Link to comment Share on other sites More sharing options...
Talon01 Posted August 6, 2007 Report Share Posted August 6, 2007 Hey Everyone! Just found out my funding from OSAP and I think I've been ripped off! My original estimate was $11,000, however now I am only getting just under $7000 (plus the Millennium Bursary). I was kind of relying on that $11,000 and now I am kind of thrown for a loop financially. I would like to use interest-free OSAP rather than my LOC. Does anyone know if the original estimate when you fill out your app includes the Millennium Bursary? Is anyone else in a similar situation? Shouldn't someone paying nearly $18000 in tuition receive the maximum OSAP? I do not have any assets like a car in my name or anything. I have a good summer job but have not managed to save anything substantial. Any insight?? Any idea if I can have my application reassessed? Thank for any help!! Stupid government! From how I understand it, once your income meets a certain dollar figure, anything you make over that dollar figure comes out the maximum OSAP you receive (no facts to back this up). You stated you had a good summer job, perhaps you made quite a bit over this dollar figure. Don't worry about the LOC, in the grand scheme of things it's only 7,000$ (which may sound like quite a bit right now). Good luck and congrats on the acceptance. Link to comment Share on other sites More sharing options...
Talon01 Posted August 6, 2007 Report Share Posted August 6, 2007 Also, you do not have to pay that bursary back so 7k from OSAP and 3k bursary is better than 11k of OSAP.... FYI. Link to comment Share on other sites More sharing options...
EESH Posted August 6, 2007 Report Share Posted August 6, 2007 Hey Everyone! Just found out my funding from OSAP and I think I've been ripped off! My original estimate was $11,000, however now I am only getting just under $7000 (plus the Millennium Bursary). I was kind of relying on that $11,000 and now I am kind of thrown for a loop financially. I would like to use interest-free OSAP rather than my LOC. Does anyone know if the original estimate when you fill out your app includes the Millennium Bursary? Is anyone else in a similar situation? Shouldn't someone paying nearly $18000 in tuition receive the maximum OSAP? I do not have any assets like a car in my name or anything. I have a good summer job but have not managed to save anything substantial. Any insight?? Any idea if I can have my application reassessed? Thank for any help!! Stupid government! I'm pretty much in the same boat. I was originally quoted $12,000 and now I'm down to $8,000 + the bursary. You'd think that they would take our tuition into consideration. Yes, we get more than undergrads do, but our tuition is over 3x as much. Anyway, time to start accepting the fact that we'll be using our LOC a little sooner than we thought. BTW Talon01, the maximum that OSAP asks you to pay back for a given year is $7,000, so anything over that is considered a bursary (or something to that effect). That's what the ontario student opportunity grant is about (feel free to correct me if I'm mistaken). Link to comment Share on other sites More sharing options...
JewelLeigh Posted August 7, 2007 Report Share Posted August 7, 2007 I'm a little confused....sounds like you guys both got only $1000 less than your estimates - that doesn't seem like such a big deal?? The Millenium bursary counts as OSAP funding (though you don't have to pay that $3k back), so your total funding assessments are $10 and $11k respectively. OSAP has a maximum amount you can receive (INCLUDING the bursary) per week...so if your school year is a certain number of weeks, it doesn't matter what your tuition is, you can only receive # weeks x max weekly rate. Also don't forget that you're pretty much going to be guaranteed an incredibly well-paying job as soon as your are done. Sure undergrad tuition is a lot less than medical school, but aside from perhaps nursing, there aren't many undergrad degrees that will guarantee you a job, much less one that pays like medicine does. The government needs to support the people who are most likely to NEED it. With LOCs and a fantastic future income, even with the high (yes, I agree, ridiculously high) tuition, medical students are not the most needy imo. Link to comment Share on other sites More sharing options...
shaka84 Posted August 7, 2007 Report Share Posted August 7, 2007 I recieved no money from my home province because they said I made too much money this year, my wife makes too much money and our cars are too expensive. Not only did they not give me any money but their assessment stated that I should be able to save 11 000 dollars this year and put it towards next year! Their accountants use different math than mine. BTW, isn't gypped a racial slur? I believe it is along the lines of someone saying they "jewed" somebody down. Not appropraite language none the less. shaka Link to comment Share on other sites More sharing options...
JayP Posted August 7, 2007 Report Share Posted August 7, 2007 I'm a little confused....sounds like you guys both got only $1000 less than your estimates - that doesn't seem like such a big deal?? The Millenium bursary counts as OSAP funding (though you don't have to pay that $3k back), so your total funding assessments are $10 and $11k respectively. OSAP has a maximum amount you can receive (INCLUDING the bursary) per week...so if your school year is a certain number of weeks, it doesn't matter what your tuition is, you can only receive # weeks x max weekly rate. Also don't forget that you're pretty much going to be guaranteed an incredibly well-paying job as soon as your are done. Sure undergrad tuition is a lot less than medical school, but aside from perhaps nursing, there aren't many undergrad degrees that will guarantee you a job, much less one that pays like medicine does. The government needs to support the people who are most likely to NEED it. With LOCs and a fantastic future income, even with the high (yes, I agree, ridiculously high) tuition, medical students are not the most needy imo. I'm going to have to go with Jewel on this one. To be honest.....you'll drive yourself crazy if you spend 4 years of medical school penny-pinching. You should relish in the fact you are where you are and enjoy yourself. Like Talon said, the difference in the long term is insignificant. It is a drop in a very large bucket, so don't worry about OSAP and don't think the government is trying to screw you, because they aren't. Link to comment Share on other sites More sharing options...
NLengr Posted August 7, 2007 Report Share Posted August 7, 2007 My income from my year working as an engineer hurt my govt. loans. I only got $300 for the first half of the year but ~$7000 for the second half. That's all you can do though. I still think it's stupid that the govt. assumes that I can save 80% of my pre-school income. I needed a lot of that cash to pay the bills and rent during the past year. 30% is a more realistic number. While I'm not thrilled at coming out of school with $100,000+ in debt, that's all you can do. Try to minimize your debt load as best you can, and forget about it after that. Don't splurge on useless stuff, but don't starve yourself either. Link to comment Share on other sites More sharing options...
bayervillager Posted August 7, 2007 Report Share Posted August 7, 2007 BTW, isn't gypped a racial slur? I believe it is along the lines of someone saying they "jewed" somebody down. Not appropraite language none the less. shaka One of my high school classmates would always really get annoyed when people around him use the word "gypped". He says that it's preying on the stereotype that Roma (gypsy) people are so-called sneaky and cheaters. However, I don't think that drcameron meant for his post title to be a slur against anything. I got $384 dollars from OSAP for the *whole* year. I am still counted as a dependent, but my parents aren't rich! I've had decent summer employment and worked two part-time jobs during the last school year and part of the one before that, so I saved up some money. I think that is what ended up biting me in the behind in terms of OSAP... oops! Link to comment Share on other sites More sharing options...
eise Posted August 21, 2007 Report Share Posted August 21, 2007 I agree with the minimum income standard as stated above. I have been receiving funding for my Master's. But it is not much, and it stops. I definitely cannot sustain myself for another year off my minimal salary, but OSAP seems to think so. I got nothing from them....hopefully next year will be better. Link to comment Share on other sites More sharing options...
kaymcee Posted August 22, 2007 Report Share Posted August 22, 2007 I'm not a fan of emoticons, but the original poster has really inspired me to use one of them in particular. Although I was really hoping for some sort of small violin. You're going to be in debt. Likely lots of it. I know it seems a little overwhelming and daunting to be borrowing upwards of six figures, but OSAP or equivalent isn't there to completely finance your education. It's a means to assist you. I was working this last year, and I received a grand total of $2000, as my employment really hindered my eligibility for loans. Be thankful that you're in med school. There will be plenty of other, more worthy things to whine about later. ...and if you're receiving the Millennium Bursary, didn't you get through undergrad with minimal (or without any) debt whatsoever? Link to comment Share on other sites More sharing options...
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