View Full Version : scoring
05-17-2005, 01:13 PM
Hey all....2 more weeks!! Doesnt seem like such a long time anymore.
Did you guys check out the nosm website?....it said that interviews were 50% of total score.....thats huge! And knowing that everyone came out saying the same thing for the most part ("It went pretty good").....I'm sure the adcom is having really difficult decisions to make.
Anyways.....just thought I'd share that info if you havent found out already.
thought i'd let you know i got into UBC. found out last friday. good luck at NOSM in the next two weeks! I'm rooting foryou.
05-19-2005, 07:28 AM
I scoped out a few banks, etc., and now have an overwhelming fear that if offered a spot, I wouldn't' be able to go due to financing. I have to sell my house because I wouldn't qualify for student loans even though the equity in it is not enough to meet the tuition (it's on the market now), but what the heck is one supposed to do if your home doesn't sell???
I can't imagine getting this far, doing this much work toward it, and being stopped from attending due to the fact that I have a home, and can't sell it fast enough. Sigh.
Any advice would be MOST beneficial toward a restful night of sleep for me.
05-19-2005, 07:42 AM
wow... that seems a little surprising to me - why would a bank give out a 125-150K line of credit to a student with no assets but not one with a house? did you check with RBC, CIBC, etc. for their professional student line of credit programs?
05-19-2005, 09:12 AM
that's what I was thinking as well, wattyjl :\
I really wouldn't recommend selling your house! first of all, there is the NOSM bursary fund... there is also that initiative from the government for medical education that will cover (i beleive) another $10 000/yr.. and banks are drooling over med students with offers of LOC's.
plus.. there are other avenues. I heard yesterday of this small place in Alberta that is doing a major recruitment campaign (they have 2 physicians.. one is leaving) and offered to pay the tuition for a return of service.. and there are many places who offer this type of arrangement..
I'm in the same boat as you.. too much money for a student loan.. but not enough money to financially support my school, my house, my four kids, etc etc... finances are my biggest obstacle right now :(
05-19-2005, 02:49 PM
as far as financing goes....
So far it looks like the NOSM bursary fund isnt where it was supposed to be at this time so who knows what the criteria for funding will be (likely based on need given the nature of the fund). and how can someone with assets such as a house and car qualify vs a student who has nothing?
I do believe the 10k/yr that was mentioned is not up front. This a grant that docs in areas deemed underserviced receive when they set up shop AFTER completing their residency and passing their board exam. The 10k is tax free for each year up to a max of 4 yrs.....that $$ is anywhere from 6-10 yrs away.
.....a small town in Alberta.......?? doesn't that defeat the entire purpose of NOSM? we're trying to get docs from here to study here and stay here not bolt to some bush in Alberta b/c they were the higher bidder.
There are some great LOC options but you still need to pay the interest on any LOC starting the day you use it - like min 5% for 4 yrs before you start making any $$ -- tough to float a house if you're paying double interest....
Good waiting folks
05-19-2005, 03:00 PM
re: Alberta initiative...
of course, would be nice to keep the docs here... but I was simply giving an example of what is happening elsewhere to say that there may be some northern ontario communities who may be able to provide similar incentives for recruitment.
I personally plan on practicing in Northern Ontario.. BUT financing is a reality that I cannot ignore... if it means a little short-term detour in another province, I am willing to make the sacrifice.. experience in rural alberta would be similar to the experience gained in rural ontario, therefore not a lost oportunity.
hopefully, I won't have to.. but, need to keep a lookout to all avenues, and all possibilities. ;)
05-19-2005, 04:43 PM
Also be aware that if you have a home, you also most likely (unless you are very lucky) have a mortgage. If you have a mortgage and are not making money, the banks are less likely to extend the full line of credit. The local TD bank by the way where I currently bank, only offers 14,000 a year total before any consideration is made for deducting your need to pay bills. I was told that they never had to look at a higher amount since they never had tuition fees so high before the med school issue. Unfortunately, it has not yet been looked at, and is something that "takes time". So, with what they offer locally, you can eat and have a roof over your head and not pay your tuition. Or, pay your tuition and not eat and be cold. Or, sell your house and soul. Student lines of credit seem to be geared toward those who are starting out with a fresh slate and less for those with an existing debt load.
The tuition payback is given AFTER you graduate and have reciprocated with time, not during the school years when the school wants their money.
Financing is always a challenge it seems, in reading other threads in the interviews and undergrad sections. I just haven't been able to figure out how to crunch the numbers successfully. Hopefully, I can access financial counseling sooner rather than later.
Good luck everyone.
05-19-2005, 06:36 PM
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Have you talked to the Royal Bank? From reading posts in other forums (specifically the "medschool101" forum on this site), I believe Royal and MD Management/National Bank (whom you might not be able to talk to until September) are the institutions who really "get it" in terms of med-school lines of credit. Get the lowdown from them -- and not from just any old banker, but one who specializes in "professional" lines of credit -- before you do anything drastic. The fact that you've built up some equity in your home should be working in your favour, not against you!
I currently do all my banking with TD, and if I'm so lucky as to get in I would prefer to keep all my accounts with one institution. However, I have a funny feeling that it will take me some legwork, plus playing TD off against RBC, in order to convince TD to extend me enough credit to carry me through meds. Sigh!
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05-19-2005, 07:27 PM
I had heard that the Royal was a better bet, and after talking with TD thought that I would be calling them next week to scope their LOC and rates out. I had heard of MD Management as well, but like you said, they may not be available for discussion until after school would start. Still, it won't cause any harm to give them a call after the long weekend to see what they might be willing to talk about.
I might be putting the cart before the horse anyway, and have to wait and see if NOMS feels there could be a space for me. I've been convincing myself not to get too stressed over it until they send out the list of lucky prospective students.
At the very least, I have learned a bit more about reconfiguring mortgages, banks and banking than I knew before so all is not a loss:)
Have a wonderful long weekend everyone, the weather man looks like he has been putting in some good words for everyone...a much hoped for 19 degrees here, imagine!!
05-20-2005, 08:57 AM
Thanks for clarifying the gov't initiative fund, by the way .. $10 000 is nice, but would be nicer to have earlier.. when we NEED it :)
I'm also waiting to hear if I get in, before hitting the panic button.. I'm just a little nervous that if accepted, I wont be able to get the financing organized in time (for an August start).
I'm also looking into other alternatives.. The Alma Ricard foundation (now called the Baxter-Ricard foundation) is there to help francophone students who are working towards health care careers ... I'm also trying to see if there are scholarships through my metis association.. who knows..
wonder how much kidneys are going for these days.. :p
05-29-2005, 02:02 PM
^ Why not continue to be a nurse?
Canada doesn't need more female physicians.
There are too many as it is.
05-29-2005, 02:37 PM
Nice try, troll.
05-29-2005, 03:26 PM
Women should be at home cooking and cleaning and raising the children.
We do not need more feminists in medicine.
The birth rate is decreasing as it is.
Women need to stop putting careers ahead of their families.
In conclusion: you suck at life.
05-30-2005, 09:02 AM
on second thought.. I will not bring myself down to your level.
You aren't worth it.
05-30-2005, 09:14 AM
Hey there NurseNatalie! Perhaps your right! I had a few things to say regarding the matter.....But I'll behave instead....
05-30-2005, 09:22 AM
Obviously the stress levels climb as we get closer to knowing the direction our futures will take. As one poster put in another thread, the application tested our IQ somewhat, but now our emotional intelligence is surely being tested by the wait!
Posts of the above nature make me hope that the interview process is as revealing as we hope it to be, and that the true colours of those hoping to mentor our society in health care issues will be obvious.
Thankfully, misogyny does not rule the world. Well, at least not in Northern Ontario:)
05-30-2005, 09:22 AM
thank you cybernish..
I think deleting that post was the hardest thing I did in a very long time..lol..
but as you said, nothing I would say would change anything.. so why bother... I just feel sorry for him.. but hey! we have wonderful people like you out there.. to make up for it! ;)
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