Osap For Med Students Question

[T.A.]

Is medical degree considered to be an undergraduate degree for the purposes of osap?

Does osap reduce funding for it being second undergraduate degree?

Thanks

[rmorelan]

Is medical degree considered to be an undergraduate degree for the purposes of osap?

 

Does osap reduce funding for it being second undergraduate degree?

 

Thanks

 

1) Yes - it is considered so. Most medical students can and probably should get osap.

2) No - they have upper limits on the number of weeks you can get osap in your lifetime but that is not limited to a particular degree or degrees.

[T.A.]

Thanks rmorelan,

I know I probably shouldn't be worried about this upper limit but out of curiosity, do you know what this upper limit is?

 

Also I've read a lot of discussions in in the past about how Osap funding is based on how much you make in the summer and I've often heard that working in the summer might actually mean you end up getting less from Osap.

 

Could you elaborate on this if you know about it?

 

Thanks

[rmorelan]

Thanks rmorelan,

I know I probably shouldn't be worried about this upper limit but out of curiosity, do you know what this upper limit is?

 

Also I've read a lot of discussions in in the past about how Osap funding is based on how much you make in the summer and I've often heard that working in the summer might actually mean you end up getting less from Osap.

 

Could you elaborate on this if you know about it?

 

Thanks

 

sure, it is about 340 weeks unless you do a PHD etc. That is quite some time really.

 

There is a max you can get per week - shown here https://www.ontario.ca/education-and-training/maximum-amounts-aid

 

that helps compute things

 

WIth osap the annoying thing is debit, expenses etc don't count but income and assets do. Kind of one sided. It would be more logical that if you owed 10,000 and had 10,000 in cash osap will treat you like someone who has 0 cash and 0 debits. They don't - the guy with 10,000 cash gets a lot less osap. Same if you own or lease a car, have other assets, an RESP etc, etc.

 

same with income - and there is great online calc from them you can use to compute things. The more you make the less they give you even though you cannot possibly make enough to even cover the base tuition for the medical school unless something really weird is going on

 

There is a reasonable amount can earn though and that is good - again the calc will help with planning.