Interest Relief Bursary

[mbene085]

Hey guys,

 

I know there's an interest relief bursary for med students at U of O, to help cover their LOC's interest. I have a couple of questions about it that I was hoping someone might be able to answer. Do you need to have a minimum amount of LOC debt (e.g. $15,000, or $25,000) before you can qualify? Also, what is the maximum they are willing to cover (e.g. the interest on the first $50,000 of your LOC but no more than that)? Finally, is it available all throughout med school, or does it start/end at clerkship?

 

Thanks!

[Satsuma]

I don`t think there is a minimum, but you do need to show you are using your LOC....so when you apply you have to send in a copy of your LOC statement.

 

You also have to submit a budget that shows your expenses and income etc.

 

It is available for all your 4 years of med school. The amount you get will increase each year since your LOC will probably increase each year.

 

I don`t think there is a max....thankfully I am not there yet !

[mbene085]

I don`t think there is a minimum, but you do need to show you are using your LOC....so when you apply you have to send in a copy of your LOC statement.

 

You also have to submit a budget that shows your expenses and income etc.

 

It is available for all your 4 years of med school. The amount you get will increase each year since your LOC will probably increase each year.

 

I don`t think there is a max....thankfully I am not there yet !

 

That's so great to hear! On the web site, they just say a vague statement that it covers the interest up to a "pre-determined maximum", so I was suspicious of how much it might actually cover...like if it was just the first $300 of interest a year or something like that.