Bc Student Aid Amount

[hopeful4UBC]

Does anybody know the maximum amount that BC Student Aid would provide medical students each year? (For independent students with no assets or income). I was looking online for an "aid estimator" type calculator but couldn't find one (there is one for OSAP). Any info would be appreciated. Thanks!

[JohnGrisham]

Does anybody know the maximum amount that BC Student Aid would provide medical students each year? (For independent students with no assets or income). I was looking online for an "aid estimator" type calculator but couldn't find one (there is one for OSAP). Any info would be appreciated. Thanks!

Max is just under a total of 15 K, including the low-income grant, for the provincial and federal components for 1 year

[hopeful4UBC]

Max is just under a total of 15 K, including the low-income grant, for the provincial and federal components for 1 year

Do you know how much of that is provincial vs. federal? I remember hearing that for the provincial portion it remains interest free during residency

[JohnGrisham]

Both portions are interest free during medical school. I have never heard of one being interest free during residency, that would be news to me.

 

Either way it shouldn't reeally matter. Its not life or death financials. Spend wisely and be comfortable within reason and these are things you should try not to worry about.

 

Easier said then done(I'm also one to worry and not use my LOC knowing the value of money all too well) but you get used to it. Just remember you'll be making it all back fairly easily. Not so easily that you should waste it, but enough such that you can at the very least not stress about every dollar.

[JohnGrisham]

Both portions are interest free during medical school. I have never heard of one being interest free during residency, that would be news to me.

 

Either way it shouldn't reeally matter. Its not life or death financials. Spend wisely and be comfortable within reason and these are things you should try not to worry about.

 

Easier said then done(I'm also one to worry and not use my LOC knowing the value of money all too well) but you get used to it. Just remember you'll be making it all back fairly easily. Not so easily that you should waste it, but enough such that you can at the very least not stress about every dollar.

[hopeful4UBC]

I came across this thread and the posts near the bottom indicate that in BC and AB, loans are interest free during residency. Can anyone confirm/deny this?

 

http://forums.premed101.com/index.php?/topic/77570-paying-off-osap/

[hopeful4UBC]

One more thing - does anyone know if BC Student Aid provides a portion of its loan as "grants" (which don't need to be paid back)? I understand that OSAP does this, but haven't heard of whether BC Student Aid does. 

[JohnGrisham]

Yes there is about 2500 for the year in low income grants. I belief its 1250 per term. I'd have to check for the specific amount but on my phone. This is not payable back.

 

UBC will also have its own internal.bursaries and scholarships. Bursary amounts will vary from a few hundred or thousand, to as high as 10-15k that some people got. Its all luck. I think the sites tended to get more anecdotally..the few super high bursary recipients I know were all at the distributed sites. Probably just coincidence though.