Coolbamboo Posted August 16, 2011 Report Share Posted August 16, 2011 Hi! Im a new medical student in Quebec, and these days im calculating for my financial budget. I'd like to evaluate the approximate amount of salary that an average quebec resident would earn to decide whether or not i'll need to apply for a line of credit. The numbers i've searched all indicate approximated 50K, but im not sure if these numbers are also accurate in Quebec, anybody? Link to comment Share on other sites More sharing options...
psychoswim Posted August 16, 2011 Report Share Posted August 16, 2011 Hi! Im a new medical student in Quebec, and these days im calculating for my financial budget. I'd like to evaluate the approximate amount of salary that an average quebec resident would earn to decide whether or not i'll need to apply for a line of credit. The numbers i've searched all indicate approximated 50K, but im not sure if these numbers are also accurate in Quebec, anybody? I think it's significantly less in QC? One of the reasons the residents are on strike as far as I know. Link to comment Share on other sites More sharing options...
Mourning Cloak Posted August 16, 2011 Report Share Posted August 16, 2011 I'd like to evaluate the approximate amount of salary that an average quebec resident would earn http://www.carms.ca/eng/r1_program_salaries_e.shtml Link to comment Share on other sites More sharing options...
Superking25 Posted August 17, 2011 Report Share Posted August 17, 2011 You can find the annual salary for residents on the carms website. http://www.carms.ca/eng/r1_program_salaries_e.shtml#QC Gross annual Resident 1 Salary* $ 41 355 It's less than the other provinces. NFLD is somewhere around $42k, Alberta is $54k, everyone else is somewhere in between. Link to comment Share on other sites More sharing options...
Coolbamboo Posted August 17, 2011 Author Report Share Posted August 17, 2011 http://www.carms.ca/eng/r1_program_salaries_e.shtml Thank you! This is really informative Link to comment Share on other sites More sharing options...
NLengr Posted August 17, 2011 Report Share Posted August 17, 2011 You can find the annual salary for residents on the carms website. http://www.carms.ca/eng/r1_program_salaries_e.shtml#QC Gross annual Resident 1 Salary* $ 41 355 It's less than the other provinces. NFLD is somewhere around $42k, Alberta is $54k, everyone else is somewhere in between. NL has raised the PGY1 salary to 52k or so. It was renegotiated this year. Benefits of being a have province I guess. Link to comment Share on other sites More sharing options...
Coolbamboo Posted August 17, 2011 Author Report Share Posted August 17, 2011 Also, concerning the loans and bursaries, why does most people prefer to have a line of credit instead of a loans and bursaries? And just to make sure, they said that the loans should be paid starting 6 months after your studies, but by studies they mean end of residence right? Link to comment Share on other sites More sharing options...
deeman101 Posted August 17, 2011 Report Share Posted August 17, 2011 Expect that salary to increase significantly for QC. And I'm assuming you are a QC resident? If so yea you'll never need anything outside of loans and bursaries. Students outside of QC don't get as much loans/bursaries and tuition is 2 or 3x greater. Link to comment Share on other sites More sharing options...
Julie Posted August 17, 2011 Report Share Posted August 17, 2011 Expect that salary to increase significantly for QC. Hopefully. The federation of residents (FMRQ) is negotiating the next contract, as the previous one expired last march. Residents are using different measures to put pressure on the government to change the salary & working conditions which hopefully lead to a better income compared to the national average. And I'm assuming you are a QC resident? If so yea you'll never need anything outside of loans and bursaries. Students outside of QC don't get as much loans/bursaries and tuition is 2 or 3x greater. Actually I think my tuition in Ontario was about 8x greater than QC students! Most medical students I know who trained in QC did end up getting lines of credit though, I guess they felt the student loans & bursaries were insufficient. Medical students like to travel a lot and usually need a car by 3rd year, so often government loans don't cover all expenses. And if you only use a bit of your line of credit, it's apparently really easy to repay afterwards. Link to comment Share on other sites More sharing options...
sleeping_sickness Posted August 17, 2011 Report Share Posted August 17, 2011 Also, concerning the loans and bursaries, why does most people prefer to have a line of credit instead of a loans and bursaries? And just to make sure, they said that the loans should be paid starting 6 months after your studies, but by studies they mean end of residence right? I have loans and bursaries, as well as a line of credit. Loans and bursaries are about 16k. Once tuition and books/other stuff is paid for, you've got about 5k left for the year for living expenses and bills. This really isn't enough. The goal is to use loans and bursaries as much as possible. I see the LOC as a security blanket. Link to comment Share on other sites More sharing options...
psychoswim Posted August 17, 2011 Report Share Posted August 17, 2011 I have loans and bursaries, as well as a line of credit. Loans and bursaries are about 16k. Once tuition and books/other stuff is paid for, you've got about 5k left for the year for living expenses and bills. This really isn't enough. The goal is to use loans and bursaries as much as possible. I see the LOC as a security blanket. Agreed. I have a little over 12K of AFE money (with 0 revenue) so that pays my tuition and apartment for the year. I won't need a LOC this year most likely since I have some savings, but after that it'll be necessary to live! Link to comment Share on other sites More sharing options...
future_doc Posted August 18, 2011 Report Share Posted August 18, 2011 In Quebec, for med students from Quebec, the LOC is essential even though tuition is less and there are loans and bursaries. Link to comment Share on other sites More sharing options...
tigars53 Posted August 19, 2011 Report Share Posted August 19, 2011 In Quebec, for med students from Quebec, the LOC is essential even though tuition is less and there are loans and bursaries. And there's also the fact that many students in Quebec aren't eligible for loan and bursaries because their parents (like mine) are in the upper-middle class. Link to comment Share on other sites More sharing options...
ArchEnemy Posted August 20, 2011 Report Share Posted August 20, 2011 And there's also the fact that many students in Quebec aren't eligible for loan and bursaries because their parents (like mine) are in the upper-middle class. In Ontario, after you are out of High School for 4 years you can apply for govt loans as an independent candidate, meaning your parents' income will not determine the amount of grants and loans you will receive. Is there something similar to this in Quebec too? Link to comment Share on other sites More sharing options...
psychoswim Posted August 20, 2011 Report Share Posted August 20, 2011 In Ontario, after you are out of High School for 4 years you can apply for govt loans as an independent candidate, meaning your parents' income will not determine the amount of grants and loans you will receive. Is there something similar to this in Quebec too? There are conditions too, but not as simple. For example, even though I've been living away from home for over 10 years, if I hadn't completed a university degree I would still be considered as dependent! UG makes you independent among other reasons. Link to comment Share on other sites More sharing options...
tigars53 Posted August 20, 2011 Report Share Posted August 20, 2011 There are conditions too, but not as simple. For example, even though I've been living away from home for over 10 years, if I hadn't completed a university degree I would still be considered as dependent! UG makes you independent among other reasons. Yeah in Quebec you become independent only if you've completed a university degree (or 3 years in the same program), if you get married or if you are over 25 I think. Since the only prerequisite needed to get into medicine is the CEGEP, a lot of students aren't eligible to those. So basically I can only have access to loans and bursaries when I'll start my 4th year in medicine. Link to comment Share on other sites More sharing options...
psychoswim Posted August 20, 2011 Report Share Posted August 20, 2011 Yeah in Quebec you become independent only if you've completed a university degree (or 3 years in the same program), if you get married or if you are over 25 I think. Since the only prerequisite needed to get into medicine is the CEGEP, a lot of students aren't eligible to those.So basically I can only have access to loans and bursaries when I'll start my 4th year in medicine. I'm pretty sure over 25 does nothing. I'm 30 and I needed my UG to be independent from my parents, though of course I have to pay my own insurance as my parents' only covers until 25 :/ It's a bit screwed up if you ask me.. Link to comment Share on other sites More sharing options...
future_doc Posted August 20, 2011 Report Share Posted August 20, 2011 And there's also the fact that many students in Quebec aren't eligible for loan and bursaries because their parents (like mine) are in the upper-middle class. I have the advantage of poverty. Link to comment Share on other sites More sharing options...
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