Funding Med School in the US

[MrMullen]

Hey guys,

 

Quick question! I'm considering applying to med schools in the states (I'm Canadian). A major concern, though, is that tuition is generally WAY more expensive in the states. Are there any canadians attending US schools that may be able to provide some insight into funding? I'm trying to decide whether or not I should even bother applying, if in the end I wont be able to afford it anyways.

 

Thanks!

[deathvvv]

Use the search function, there are several threads about this already.

 

Generally, most Canadians going South have mainly used a mixture of

 

1) Parent's $$$

2) Savings (if you have worked for a long time)

3) Bank LOC (provided you have a cosigner, you can get about 200k, which covers about 3 years of tuition+ living expenses), but at compounded interests of 3-5%, think twice before you commit

4) OSAP (10k/ year max, drop of needle in a haystack)

 

If you think you really cannot afford it, dont apply. There is nothing worse than getting an acceptance letter and not having the ability to pay for it. Most schools require you to have at least the first years tuition+ living expenses (50-85k) in the bank as liquid assets before they even issue you a student visa. Some schools like SLU will require you to deposit all 4 years tuition+expenses (300k) in an escrow account before they admit you.

[MrMullen]

Thanks for the info! I likely wont apply... this is kind of what I thought it was like anyways. Definitely didn't know that some schools require deposited tuition up front though, yikes.

[DubZteR]

Thanks for the info! I likely wont apply... this is kind of what I thought it was like anyways. Definitely didn't know that some schools require deposited tuition up front though, yikes.

 

I've said this before ... money shouldn't be the deciding factor for a US medical education. In most situations in life, where there's a will .. there's a way.

 

Granted when I was a med student, tuition was significantly cheaper (~$30K/yr) ... but this was still significantly more expensive then CAD med schools, but it was well worth the extra cost.

 

If you have the stats to get yourself into mid-top tier US schools, then I would say the connections and networking alone are well worth the extra investment.

[MrMullen]

Thanks DubZteR! I agree, but obviously the financial aspect is one to consider. I would really hate to apply, get into a mid-top tier school, then fail to raise the money necessary to attend and end up having to turn down the acceptance. Obviously that would be the worst case scenario, but it's also the most likely given my financial situation. The only reason I am really considering this at all is that I DO believe that I could get into some great schools.. It's a tough call though, but I guess there's really no harm in applying.

[Mithril]

I've said this before ... money shouldn't be the deciding factor for a US medical education. In most situations in life, where there's a will .. there's a way.

Yes, it should. If you can't pay for it then you can't matriculate.

[deathvvv]

5K application+secondary fee~10K for plane tickets/hotel/food on the interview trail.

 

Thanks DubZteR! I agree, but obviously the financial aspect is one to consider. I would really hate to apply, get into a mid-top tier school, then fail to raise the money necessary to attend and end up having to turn down the acceptance. Obviously that would be the worst case scenario, but it's also the most likely given my financial situation. The only reason I am really considering this at all is that I DO believe that I could get into some great schools.. It's a tough call though, but I guess there's really no harm in applying.

[mlbn]

5K application+secondary fee~10K for plane tickets/hotel/food on the interview trail.

 

10 K total cost or 10 K travel costs?! You travelled in style my friend! My total for last cycle and attending 9 interviews, including application fees and travel came to just about 10 K. I used to bunch interviews together so I would fly domestic in the US, and also bid for hotels on priceline which def helped save costs. Oh and also, I rediscovered Mcdonalds on my interview trail

[deathvvv]

lol I would like to keep my cholestrols level in check when I travel, thank god for free interview lunches

 

But in my case, my interviews were all spaced apart and in different cities . Which meant lots of $$$ for food, travel and lodging.

 

10 K total cost or 10 K travel costs?! You travelled in style my friend! My total for last cycle and attending 9 interviews, including application fees and travel came to just about 10 K. I used to bunch interviews together so I would fly domestic in the US, and also bid for hotels on priceline which def helped save costs. Oh and also, I rediscovered Mcdonalds on my interview trail

[mlbn]

lol I would like to keep my cholestrols level in check when I travel, thank god for free interview lunches

 

But in my case, my interviews were all spaced apart and in different cities . Which meant lots of $$$ for food, travel and lodging.

 

Precisely why you need to rediscover McDonald's! They have quite a few healthy menu options now My fav interviews were those with free breakfast (GWU, BU,NYMC, SLU) and free lunch!

[MrMullen]

Thanks for the info guys, it's appreciated. Free lunches aside, 10k may be a bit much for me this time around (I'm a lowly grad student). I'll apply across Canada this time, and if for whatever reason it doesn't work out, I'll take North America by storm next year!