For those accepted to Australian or Irish School

[tothestars]

What is your tuition+boarding costs for one year in Canadian dollars? How are you paying for it (loans, parents, etc.)?

 

I want to apply, but I am not sure if I will be financially able to.

[iheartmed]

To be honest it's really tough unless you have major family contributions. I was accepted to the US, Ireland and Australia. These would all by far exceed the $150000 student line of credit, if you could even get it for an international school. If I'm remembering correctly the US school was $72000/yr tuition, Australia was $35000/yr and Ireland was somewhere between. In the end I was accepted into a school here in Canada and never complain about money.

 

If you need to go international it would be worth reapplying after a year overseas. I have a few classmates who have done that.

 

Good luck.

[KLM]

You are right iheartmed, one cannot get a line of credit on your own if you are going international.

 

My friend's parents got a home equity loan of 250K and she is now in Ireland. She was lucky as her parent's home was almost paid off and it's in the GTA. It's still a big sacrifice.

 

I believe she is paying, with everything in, around 60-65K CDN yearly.

[inspiring-curmudgeon]

You are right iheartmed, one cannot get a line of credit on your own if you are going international.

 

My friend's parents got a home equity loan of 250K and she is now in Ireland. She was lucky as her parent's home was almost paid off and it's in the GTA. It's still a big sacrifice.

 

I believe she is paying, with everything in, around 60-65K CDN yearly.

 

Leveraging your parents home equity to chase a dream of being a doc when they couldn't cut it in Canada? Bold move. What happens if they don't get residency spot here?

[KLM]

Leveraging your parents home equity to chase a dream of being a doc when they couldn't cut it in Canada? Bold move. What happens if they don't get residency spot here?

 

I know eh? I couldn't do it but I believe the home is worth big bucks and the parents wanted to do it.

 

Hopefully she can get a FM residency in a rural setting.

[filter105]

Just wow...

 

Before I always wondered why all these bright students wouldn't apply abroad, because they would surely get in, even if they don't in Canada.

And then I learned how expensive it is and the fact that it would be very difficult journey...On the other hand, after MSc, unemployed and looking long term... I thought maybe that investment is worth it/need it

 

I guess its a matter of being capable or not...(financially...which is sad)

[muhgel]

i think (hope ) this is doable without burdening parents -

take Irish schools for example -

 

tuition: avg 40K euro per year x 4 years (e.g. Limerick = 160euro x 1.4 (i know it's 1.3 now but let say it bounces back) = 224k CAD

 

cost of living 2k euro per month x 48 months = 96k euro = 134k CAD

 

total ~360kCAD, now the professional LOC will give you about 225k max, plus Canadian student loan/provincial loan will give out about 6k-8k per year. I mean, obviously, you'll still be ~100k short but that's 3 summers of working full time - and hopefully some savings before hand (note to self).

 

not sure if this helps, but like many, the last thing i want to do is to burden my family.

[SooSk]

you can get around 200,000 to 225,000 loan from bank. BUT your parents will be cosigners so if you don't pay up on time, your parents will still be liable for your debt.