MedPen Posted November 30, 2011 Report Share Posted November 30, 2011 I didn't see a similar thread so I decide to start one, just because it could be fun. I know most of us tend to be pretty responsible but I am sure some of us have done things with our med school LOC that the banks didn't intend (i.e. strippers in the largest suite at the Bellagio in Vegas ) Personally, I used a large chunk towards a deposit on a condo. Not exactly super irresponsible but not what the bank would recommend. What did you guys do apart from pay school and living expenses? Link to comment Share on other sites More sharing options...
ellorie Posted November 30, 2011 Report Share Posted November 30, 2011 Mostly I just live the tiniest bit better than I did in undergrad - slightly higher rent, slightly higher food budget. Link to comment Share on other sites More sharing options...
justletmein Posted November 30, 2011 Report Share Posted November 30, 2011 engagement ring ! Link to comment Share on other sites More sharing options...
Mithril Posted November 30, 2011 Report Share Posted November 30, 2011 A new LCD TV for my room. Other than that I've barely touched my LoC outside of tuition. I hate banks. Link to comment Share on other sites More sharing options...
psychoswim Posted November 30, 2011 Report Share Posted November 30, 2011 Haven't touched mine yet.. still living like I don't have one so I feel guilty when I buy clothes or if I want to go see a show that's not even $50 lol!! My brother-in-law used his (from pharmacy) to make the down payment on the 3 buildings he and my sister bought (5-6 apartments each). Link to comment Share on other sites More sharing options...
Jochi1543 Posted November 30, 2011 Report Share Posted November 30, 2011 Mostly I just live the tiniest bit better than I did in undergrad - slightly higher rent, slightly higher food budget. Same here. I haven't really made any grand purchases, but overall I just worry less about money and treat myself to small things more often. Link to comment Share on other sites More sharing options...
psychoswim Posted November 30, 2011 Report Share Posted November 30, 2011 Same here. I haven't really made any grand purchases, but overall I just worry less about money and treat myself to small things more often. So.. do you have a tip to stop feeling guilty about treating yourself that way? I'm all ears Link to comment Share on other sites More sharing options...
Jochi1543 Posted November 30, 2011 Report Share Posted November 30, 2011 So.. do you have a tip to stop feeling guilty about treating yourself that way? I'm all ears Ha, not really, I just think back to the time I spent working two jobs, or going to school full-time AND working full-time, or that time I got vicious food poisoning from food bank Christmas ham and spent the entire holidays laid out in bed vomiting on the floor and then any feelings of guilt disappear. Link to comment Share on other sites More sharing options...
MedPen Posted November 30, 2011 Author Report Share Posted November 30, 2011 So.. do you have a tip to stop feeling guilty about treating yourself that way? I'm all ears I can teach you to buy nice things without feeling guilty. It's my specialty lol. Link to comment Share on other sites More sharing options...
psychoswim Posted November 30, 2011 Report Share Posted November 30, 2011 I can teach you to buy nice things without feeling guilty. It's my specialty lol. LOL!! Maybe not *that* much no-guilt? Link to comment Share on other sites More sharing options...
japlanet Posted November 30, 2011 Report Share Posted November 30, 2011 I know that there are people in my class who have leased (very) expensive cars on their LOC - to me that's just wildly irresponsible since you don't even own it at the end!! Link to comment Share on other sites More sharing options...
deeman101 Posted November 30, 2011 Report Share Posted November 30, 2011 Heh. I probably have everybody on this board beat in this respect. I fund amateur racing ambitions with all the associated costs that come with modifying my car to be competitive. It costs more than I ever thought. But like jochi said I've worked more or less since I was 12 and I even came out of UG with some savings. Its about time to embrace the inevitability of debt that will be in all our lives! lol Btw to the Quebecers, you really don't need a LOC. Your tuition is too low and your Quebec loans (comes soon enough for premeds too) too generous. I wouldn't have touched a loc if I knew there was a chance of graduating on government loans alone. And as for feeling guilty...everyone has a threshold of debt IMO. At some point of debt you'll get the "eff it" attitude and be less frugal. I'm pretty sure I've passed mine a few months ago. An extra $100 no longer phases me. Link to comment Share on other sites More sharing options...
psychoswim Posted November 30, 2011 Report Share Posted November 30, 2011 Btw to the Quebecers, you really don't need a LOC. Your tuition is too low and your Quebec loans (comes soon enough for premeds too) too generous. I wouldn't have touched a loc if I knew there was a chance of graduating on government loans alone. Actually yeah you do need one if you live on your own. The Quebec loans covers my rent and tuition and that's it. Doesn't even start to cover food, clothes, utilities, books, material and the rest. And that's because my place is pretty cheap too compared to other places in town. I started the year with savings + the loan, so I might possibly make it without touching my LOC this year, but definitely not next year. Link to comment Share on other sites More sharing options...
deeman101 Posted November 30, 2011 Report Share Posted November 30, 2011 ^ I'm not sure about UdeM's tuition. But if its like McGill's it should be easily manageable. I'd say at least 30% of my class that live on their own hasn't touched a LOC or gotten a LOC. Depends on your standard of living I guess. For reference they're getting 12k in bursaries plus 6k in loans and usually some amount from McGill bursaries. And then of course you can make more with summer/fall research bursaries, anatomy dissection program, etc. Or go to Gatineau and get another $10k/yr. Lots of options. Link to comment Share on other sites More sharing options...
MedPen Posted November 30, 2011 Author Report Share Posted November 30, 2011 It's not feasible to live just on government loans, unless you can make it by with 6000$ living expenses per year, which most people can't and I don't even want to try. Link to comment Share on other sites More sharing options...
psychoswim Posted November 30, 2011 Report Share Posted November 30, 2011 I get 12K from Quebec in bursaries and loans (max I can get since no revenue). Rent alone is just over 7K. That leaves 5K for tuition and everything else. Say tuition is around 2K per semester. That leaves $1000 for food, utilities, books, etc. No way that's enough even if I still live pretty cheaply. I won't have to dig deep into my LOC, but I couldn't do it without, and I refuse to not eat for the next x years. Link to comment Share on other sites More sharing options...
JB. Posted November 30, 2011 Report Share Posted November 30, 2011 Eating is over-rated Link to comment Share on other sites More sharing options...
MedPen Posted November 30, 2011 Author Report Share Posted November 30, 2011 I get 12K from Quebec in bursaries and loans (max I can get since no revenue). Rent alone is just over 7K. That leaves 5K for tuition and everything else. Say tuition is around 2K per semester. That leaves $1000 for food, utilities, books, etc. No way that's enough even if I still live pretty cheaply. I won't have to dig deep into my LOC, but I couldn't do it without, and I refuse to not eat for the next x years. I didn't get bursaries and loans this year. Didn't apply since I'm only taking 12 credits per semester and the amount you get is based on credits but I'll apply next year. I could use 12k. Link to comment Share on other sites More sharing options...
psychoswim Posted November 30, 2011 Report Share Posted November 30, 2011 I didn't get bursaries and loans this year. Didn't apply since I'm only taking 12 credits per semester and the amount you get is based on credits but I'll apply next year. I could use 12k. You still should have.. 12 credits last winter gave me around 3.5K I think (with no revenue). Link to comment Share on other sites More sharing options...
MedPen Posted November 30, 2011 Author Report Share Posted November 30, 2011 You still should have.. 12 credits last winter gave me around 3.5K I think (with no revenue). It's ok. 3.5k would not save me. I am living off my LOC for now. Next year when we have 40 credits, I'll apply. Link to comment Share on other sites More sharing options...
Dino Posted December 1, 2011 Report Share Posted December 1, 2011 A new luxury car Any type of jewelery Anything "decorative" or "cute" A top of the line electronic stethoscope Link to comment Share on other sites More sharing options...
xkittens Posted December 1, 2011 Report Share Posted December 1, 2011 Hey guys, Just so I know how irresponsible to be with my OSAP and current savings and such.... How much of your tuition/living expenses will loans cover when you're in med school? Link to comment Share on other sites More sharing options...
deeman101 Posted December 1, 2011 Report Share Posted December 1, 2011 Hey guys, Just so I know how irresponsible to be with my OSAP and current savings and such.... How much of your tuition/living expenses will loans cover when you're in med school? Depends on if the med school program is considered 2 semester long or 3 semester (including summer). If its full year then you'll probably get something around 18k assuming no savings, car, or other income (parents excluded). 10,950 is in loan, the rest is bursaries. All that will more or less cover tuition. The rest you have to manage with LOC and bursaries/scholarships if any. If its a 2 semester program then you'll get less OSAP aid, dunno how much less though. Link to comment Share on other sites More sharing options...
samy Posted December 28, 2011 Report Share Posted December 28, 2011 Mine ? A trip to Spain/Portugal this summer ! Link to comment Share on other sites More sharing options...
psychoswim Posted December 28, 2011 Report Share Posted December 28, 2011 Mine ? A trip to Spain/Portugal this summer ! Sweet!! ... Link to comment Share on other sites More sharing options...
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