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[Pippa756]

On 10/17/2017 at 8:58 AM, rmorelan said:

or not even sell it as above but yeah put it on the line either way. 

 

Again no pressure there, ha

Yep in case you were not happy with the general pressures of med school are just not enough for you!!!

 

[Edict]

On 10/15/2017 at 10:32 PM, YesIcan55 said:

Serious question.... Tution + books is around 60K USD plus housing and food etc would be another 20K USD...and if you want to come back here on holidays another 1-3K USD... that’s 83K USD per year * 4 = 332K USD...convert that to CAD=498K CAD....so you’re spending half a million dollars on an MD..... the bank gives 275K USD, where is the rest coming from? Unless you get a major scholarship and help from wealthy parents I don’t see how going to the US is even an option?

Lots of people have wealthy parents. It doesn't take many students going to the US for it to be a "significant number" but when you compare that number to the number of wealthy people in the country it pales in comparison. The GTA is where most of these people come from, it is the wealthiest city in the country and also no school gives preference to students from the GTA, hence a lot of wealthy kids shut out from medicine in Canada. Every time i go back to Toronto i see more and more luxury and sports cars. 

[Coronaxtra]

15 minutes ago, Edict said:

Lots of people have wealthy parents. It doesn't take many students going to the US for it to be a "significant number" but when you compare that number to the number of wealthy people in the country it pales in comparison. The GTA is where most of these people come from, it is the wealthiest city in the country and also no school gives preference to students from the GTA, hence a lot of wealthy kids shut out from medicine in Canada. Every time i go back to Toronto i see more and more luxury and sports cars. 

You should see the suburbs of Toronto. You'd be surprised what people can afford in Brampton & Mississauga while producing foreign trained physicians, dentists, optometrists, lawyers, etc.

[JohnGrisham]

On 10/15/2017 at 7:32 PM, YesIcan55 said:

Serious question.... Tution + books is around 60K USD plus housing and food etc would be another 20K USD...and if you want to come back here on holidays another 1-3K USD... that’s 83K USD per year * 4 = 332K USD...convert that to CAD=498K CAD....so you’re spending half a million dollars on an MD..... the bank gives 275K USD, where is the rest coming from? Unless you get a major scholarship and help from wealthy parents I don’t see how going to the US is even an option?

You have personal savings, and parental support. Or the very very rare possibility of scholarships. You answered your own question.

[Edict]

8 hours ago, Coronaxtra said:

You should see the suburbs of Toronto. You'd be surprised what people can afford in Brampton & Mississauga while producing foreign trained physicians, dentists, optometrists, lawyers, etc.

When I was a kid, a mercedes or bmw was a semi-rare sight. A special car I would have thought. Now, even porsches are a common sight and ferraris, lambos and high tier audis/bmw/mercs are only semi-rare and almost a guaranteed sighting at certain areas of the city. Your merc or bmw is now as common as a honda civic.  

I'm not commenting on if this is a good or bad thing as everything has its pros and cons, but Toronto has blown up in recent years and that certainly has something to do with the amount of wealth flowing into the city. Remember how we used to make fun of Switzerland as the rich jet setters tax haven? I think we can make fun of whats in the mirror now. 

[rmorelan]

7 hours ago, Edict said:

When I was a kid, a mercedes or bmw was a semi-rare sight. A special car I would have thought. Now, even porsches are a common sight and ferraris, lambos and high tier audis/bmw/mercs are only semi-rare and almost a guaranteed sighting at certain areas of the city. Your merc or bmw is now as common as a honda civic.  

I'm not commenting on if this is a good or bad thing as everything has its pros and cons, but Toronto has blown up in recent years and that certainly has something to do with the amount of wealth flowing into the city. Remember how we used to make fun of Switzerland as the rich jet setters tax haven? I think we can make fun of whats in the mirror now. 

9 straight years of economic growth, plus a real estate run up, record low interest rates for an extremely extended amount of time 

a lot of people now almost cannot even remember what a recession is like - or in many cases ever had one in their careers yet. 

all that is great if you are taking advantage of it to give yourself a nice stable financial future - if you are overextended things are going to get messy at some point.  

 

[MSWschnoodle]

On 2017-10-15 at 8:32 PM, YesIcan55 said:

Serious question.... Tution + books is around 60K USD plus housing and food etc would be another 20K USD...and if you want to come back here on holidays another 1-3K USD... that’s 83K USD per year * 4 = 332K USD...convert that to CAD=498K CAD....so you’re spending half a million dollars on an MD..... the bank gives 275K USD, where is the rest coming from? Unless you get a major scholarship and help from wealthy parents I don’t see how going to the US is even an option?

We had a PM101 member a couple years ago who received a big scholarship equivalent to about half the cost of their USMD, so it's not completely impossible to make it work on a Canadian LOC but you're right, it's not easy. You could also see what your options are in terms of working during your preclinical MD if the US is something you want to pursue (if you can get the required work visa/green card/paperwork required). 

I'm sure there are also students who take a few years off, work their behinds off at multiple jobs, save every penny they can and use their personal savings to fill the gap between their LOC and USMD cost. 

For lots of folks the answer is definitely wealthy parents or parents willing to remortgage the family home but there will always be students making it work by maxing out loans, making the most of scholarships and working while going to school. Unfortunately a lot of scholarships are only offered after acceptance, so it's a bit of a gamble to apply and potentially get an offer at a school you cannot accept for financial reasons (we've had a few forum members in that boat as well if I recall correctly).