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Financial Assistance

If your dream is to have an influence on Canada’s health care as a physician, the costs should not limit your dreams.  While the pursuit of an MD degree does not come inexpensively, there are many options available to you to help defray the costs of your undergraduate medical education.  A sample outline of costs that might be incurred in a year is as follows:

 

Medical Student Budget

 

 

 

       

Expense

 

Yr. 1

(40 wks)

 

 Yr. 2

(40 wks)

 

Yr. 3

(52 wks)

 

Yr. 4

(37 wks)

 

 

 

10 months

 

10 months

 

12 months

 

9 months

Tuition/Ancillary Fees

21,868.70

21,102.70

20,365.70

20,365.70

Books

2,200.00

1,100.00

700.00

500.00

Rent $550/mth

5,500.00

5,500.00

6,600.00

4,950.00

Food $300/mth

3,000.00

3,000.00

3,600.00

2,700.00

Local Transportation  $70/mth

700.00

700.00

840.00

630.00

Transportation Home

500.00

500.00

500.00

500.00

Entertainment $100/mth

1,000.00

1,000.00

1,200.00

900.00

Clothing $75/mth

750.00

750.00

900.00

675.00

Personal Items $50/mth

500.00

500.00

600.00

450.00

Laundry $30/mth

300.00

300.00

360.00

270.00

Utilities/Cable $80/mth

800.00

800.00

960.00

720.00

Phone/Internet $80/mth

800.00

800.00

960.00

720.00

Elective Costs incurred in Third Year

 

 

3,000.00

 

Fourth Year CARMS Process

 

 

 

4,600.00

 

 

 

 

 

 

 

 

 

 

Note:This budget is a guideline, take into consideration the following when assessing your budget:

1.  Interest payments on line of credit.

2.  Purchase of a used car in third or fourth year (approx. $6000).

3.  Adjust budget for students living at home, married students, and sole support parents.

There are many needs-based scholarships, privately-funded bursaries, and institutional bursaries to help you offset the financial cost of your education.

  • Over $3.2 million dollars in bursaries, scholarships and awards.
  • 204 Needs-Based Scholarships at a total value of $1,842,954 (including 60+ Schulich Awards which provide students in the greatest need with $20,000 in each of their 4 years to cover tution and other expenses). 
  • 130 Privately-Funded Bursaries equaling a total value of $ 168,400

Student Financial Services in the Office of the Registrar will provide a great deal of support and advice to you as a Schulich Medicine student in regard to your financial situation.   http://www.registrar.uwo.ca/index.cfm/student-finances/ .

Applicants to Schulich Medicine are invited to submit applications for consideration for Student Financial Aid at the time they are invited for interview.

In addition to OSAP, many financial institutions will provide lines of credit to admitted students who are in good academic standing.