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Chuck Norris · 03-30-2009, 11:29 AM

To those that don't believe a student will ever need a loan lets look at some programs, specifically, medicine, since this has been a banking target for a number of years.

A student who applies to med school, does not often have the luxury of taking med within their geographic location. An BC student with great recommendations and A average, may still have to go to University of Manitoba.

This move alone creates a whole new world of expenses. I do believe that those students should live on residence (although it's not always the cheapest choice) and embrace learning over luxuries. It's hard to do considering many first year med students have undergrad classmates who are now working and making money while they're stuck paying money.

Keep in mind, you cannot work while going to med school like you can during an undergraduate degree. Med school requires 100% of your time. Sleep is a luxury when you're in the program.

Med school typically costs approx $10,000 a year and food is typically $500 a month. Yes, you could cheap out on the food portion but personally I don't believe your diet should suffer since health is paramount. Residence can typically cost $400-800 a month but sharing residence takes it down to the $400 mark.

Every year, if you're living like a poor student, it is likely to cost anywhere from $20 - $25,000 a year.

A 4 year program is now $100,000 of debt while going to school in Winnipeg away from your family. If you want to visit them, plane tickets aren't free so that adds to costs as well.

Student loans are the way to go initially since there is the opportunity for grants and there is no force payback or interest until completion of the program (6 months grace period).

This doesn't mean that everyone has to be in that situation. One friend of mine was given an M3 and a condo in the US to go to med school with all tuition expenses paid through scholarship. The parents already had money so they rewarded him for his crazy marks on the MCAT (I think it was 41R score and yes I'm jealous).

Another friend's parents just declared bankruptcy while he goes to Regina Med and he's lucky if his parents can spend money to send him a Christmas card.

03-30-2009, 11:29 AM	#32
Chuck Norris Unauthourized Spammer Join Date: Jun 2005 Location: . Posts: 494 Thanked 64 Times in 20 Posts Failed 0 Times in 0 Posts	To those that don't believe a student will ever need a loan lets look at some programs, specifically, medicine, since this has been a banking target for a number of years. A student who applies to med school, does not often have the luxury of taking med within their geographic location. An BC student with great recommendations and A average, may still have to go to University of Manitoba. This move alone creates a whole new world of expenses. I do believe that those students should live on residence (although it's not always the cheapest choice) and embrace learning over luxuries. It's hard to do considering many first year med students have undergrad classmates who are now working and making money while they're stuck paying money. Keep in mind, you cannot work while going to med school like you can during an undergraduate degree. Med school requires 100% of your time. Sleep is a luxury when you're in the program. Med school typically costs approx $10,000 a year and food is typically $500 a month. Yes, you could cheap out on the food portion but personally I don't believe your diet should suffer since health is paramount. Residence can typically cost $400-800 a month but sharing residence takes it down to the $400 mark. Every year, if you're living like a poor student, it is likely to cost anywhere from $20 - $25,000 a year. A 4 year program is now $100,000 of debt while going to school in Winnipeg away from your family. If you want to visit them, plane tickets aren't free so that adds to costs as well. Student loans are the way to go initially since there is the opportunity for grants and there is no force payback or interest until completion of the program (6 months grace period). This doesn't mean that everyone has to be in that situation. One friend of mine was given an M3 and a condo in the US to go to med school with all tuition expenses paid through scholarship. The parents already had money so they rewarded him for his crazy marks on the MCAT (I think it was 41R score and yes I'm jealous). Another friend's parents just declared bankruptcy while he goes to Regina Med and he's lucky if his parents can spend money to send him a Christmas card.