theguy Posted August 8, 2015 Report Share Posted August 8, 2015 . Link to comment Share on other sites More sharing options...
Birdy Posted August 8, 2015 Report Share Posted August 8, 2015 I'm glad for it as well. My student loan is disbursed in two payments - federal in September, provincial in January - so I'd rather not have to put most of my tuition on my LOC unnecessarily even temporarily. No sense paying interest if I don't have to! Also good because we'll find out in November which bursaries, if any, we will be receiving. All around a better system. I think. Link to comment Share on other sites More sharing options...
thestar10 Posted August 9, 2015 Report Share Posted August 9, 2015 Where did you find this information? McMaster Medicine has previously charged interest on all tuition payment unless it is all payed off by September. Link to comment Share on other sites More sharing options...
theguy Posted August 9, 2015 Author Report Share Posted August 9, 2015 . Link to comment Share on other sites More sharing options...
thestar10 Posted August 9, 2015 Report Share Posted August 9, 2015 It was in the most recent communication with incoming students. It's a new model? That's great. They have yet to inform the upper year class anything about this. Link to comment Share on other sites More sharing options...
ygella Posted August 10, 2015 Report Share Posted August 10, 2015 Unless mac has changed their policy, they do charge interest on unpaid tuition (as of last year). They have not given the upper years info with regards to tuition payments yet, so it is possible that their policy has been changed. However, if the interest policy remains unchanged, their interest rate is much higher than the line of credit. So it is advisable to pay fully via line of credit (and OSAP if you are getting it). Link to comment Share on other sites More sharing options...
thestar10 Posted August 10, 2015 Report Share Posted August 10, 2015 Unless mac has changed their policy, they do charge interest on unpaid tuition (as of last year). They have not given the upper years info with regards to tuition payments yet, so it is possible that their policy has been changed. However, if the interest policy remains unchanged, their interest rate is much higher than the line of credit. So it is advisable to pay fully via line of credit (and OSAP if you are getting it). Looking on Mosaic, it appears that they did indeed switch to a pay per semester system. Link to comment Share on other sites More sharing options...
trojjanhorse Posted August 20, 2015 Report Share Posted August 20, 2015 It has changed this year. You can now pay in 3 instalments without penalties. The first payment is due September 1st (September 15th if you are receiving OSAP) - $9,631.15 The second payment is due January 1, 2016 (January 15th if you are receiving OSAP) - $8,685.21 The third payment is due May 1, 2016 (May 15th if you are receiving OSAP) - $8,685.21 That's about $27K. That makes McMaster the most expensive medical school per year in Canada. Here's what other schools roughly pay: http://www.ivyglobal.ca/mcat/med_schools_canada.asp Link to comment Share on other sites More sharing options...
BeeDoc Posted August 20, 2015 Report Share Posted August 20, 2015 It has changed this year. You can now pay in 3 instalments without penalties. The first payment is due September 1st (September 15th if you are receiving OSAP) - $9,631.15 The second payment is due January 1, 2016 (January 15th if you are receiving OSAP) - $8,685.21 The third payment is due May 1, 2016 (May 15th if you are receiving OSAP) - $8,685.21 That's about $27K. That makes McMaster the most expensive medical school per year in Canada. Here's what other schools roughly pay: http://www.ivyglobal.ca/mcat/med_schools_canada.asp Most expensive only because you're paying for 3 semesters rather than 2, as with most schools. Without the 3rd semester it'd be ~19k, which is lower than most med schools Link to comment Share on other sites More sharing options...
trojjanhorse Posted August 20, 2015 Report Share Posted August 20, 2015 Most expensive only because you're paying for 3 semesters rather than 2, as with most schools. Without the 3rd semester it'd be ~19k, which is lower than most med schools Yeah, that's part of it. Being a 3 yr curriculum and situated within the province of Ontario, makes the school expensive. Calgary on the other hand is $15.5K. Alberta $12K. Link to comment Share on other sites More sharing options...
JohnGrisham Posted August 20, 2015 Report Share Posted August 20, 2015 It has changed this year. You can now pay in 3 instalments without penalties. The first payment is due September 1st (September 15th if you are receiving OSAP) - $9,631.15 The second payment is due January 1, 2016 (January 15th if you are receiving OSAP) - $8,685.21 The third payment is due May 1, 2016 (May 15th if you are receiving OSAP) - $8,685.21 That's about $27K. That makes McMaster the most expensive medical school per year in Canada. Here's what other schools roughly pay: http://www.ivyglobal.ca/mcat/med_schools_canada.asp One year closer to an attendings salary though. "Time is money". Link to comment Share on other sites More sharing options...
trojjanhorse Posted August 20, 2015 Report Share Posted August 20, 2015 One year closer to an attendings salary though. "Time is money". Yeah. Saves us 1 year of living expenses too. Link to comment Share on other sites More sharing options...
Edict Posted August 21, 2015 Report Share Posted August 21, 2015 Yeah, that's part of it. Being a 3 yr curriculum and situated within the province of Ontario, makes the school expensive. Calgary on the other hand is $15.5K. Alberta $12K. Well thats because Alberta's government subsidizes more. Whether or not they can continue to afford to do that is interesting though with oil this weak. Link to comment Share on other sites More sharing options...
PCT6TH Posted August 22, 2015 Report Share Posted August 22, 2015 McGill is probably the least expensive medical school in Canada. Link to comment Share on other sites More sharing options...
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