Financing Medical Education in Canada

There are different ways to finance your education in Canada if you are enrolled in college and studying medicine. The pool of options includes working seasonal or part-time job, student loans and credit cards, scholarships, awards and grants, and a lot more.

Canada Student Loans

Financial assistance is offered under the Canada Student Loans program to students enrolled in universities and colleges. Eligibility is based on financial need and in some circumstances students are asked to pass a credit check. Students who qualify benefit in many ways, from competitive interest rates to tax deductible interest. Basically, this works as income deduction and students save money. The best part is that tax deductions can be carried forward for a period of up to 5 years. What is more, students are not required to make monthly payments before graduation. Assistance programs are also offered to students who are unable to find employment and make monthly payments as a result.

Student Loans Offered by Private Providers

A student loan from a credit union or bank can help pay for college education, board, and other major expenses. Loans from private providers usually have higher interest rates compared to government financial assistance. They usually have a variable interest rate that fluctuates and can increase the cost of borrowing if rates go up. When it comes to repayment, students are required to make monthly interest payments while in college. Banks often require a cosigner to ensure timely payments. This can be a parent, close relative, or another person with very good credit and steady income. On the good side, students are not asked to reapply each year. A Proof of Enrollment is sufficient. Students who fail to meet the eligibility criteria for government assistance often apply for a loan from a private provider.

Credit Cards

A student credit card is another way to meet daily expenses, buy textbooks and food, etc. Credit unions, local banks, and big financial institutions such as CIBC and Scotiabank offer student credit cards. They go with perks such as no minimum annual income, no annual fee, money back, points that can be redeemed at any time, and a lot more. Some banks also offer preferential rates and freebies such as free movies and music.

Part-Time Jobs While in College

Another option is to look for a part-time job at your university or campus or off-campus. Examples of off-campus jobs include administration and sales jobs, logistics and transport, social care, and health and medicine. Students pursuing a degree in medicine often apply for positions as medical assistants. Other positions for college students include customer service representative, tutor, marketing assistant, construction worker, and so on. Many students choose on-campus positions, working at the library or cafeteria.

Scholarships, Awards, and Grants

Students in Canada are welcome to apply for scholarships and grants, and there are plenty of medicine scholarships and awards available. In British Columbia, for example, scholarships are offered to students pursing a degree in Medical Sciences, Pathology, Veterinary Medicine, Psychology, Audiology and Speech Sciences, and Medical Health Sciences. Examples include the Charles Drury Taylor Scholarship, Cam Coady Memorial Bursary, and B. J. Twaites Prize. In Nova Scotia, scholarships are offered to Doctoral Students and students pursuing a degree in Medicine, Medical Health Sciences, Medical Studies, and Veterinary Medicine. They are welcome to apply for the C.C. MacDougall Scholarship, Bessie S. Stewart Scholarship, and other awards. Some scholarships are available to students at particular universities while others are offered to medical students at all universities.

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Canadian Association of Gerontology

Founded in 1971, the Canadian Association of Gerontology is an educational and scientific institution with a focus on aging, both individual and population-wide. An interdisciplinary entity, the association offers scholarships, bursaries, and awards to students and scholars who make a significant contribution to help understand aging and all aspects related to the processes involved.

Mission

The mission of the Canadian Association of Gerontology is to educate the general public and broaden the understanding of aging. The goal is to deepen knowledge of the process of aging, offer research support, and develop good practices.

History

The provincial and federal governments began to develop policies aimed at the elderly since the 1950s. Different economic and social trusts were created to meet the needs of aging populations. The founding meeting took place in 1971 at the Douglas Hospital, and the association was formally incorporated two years later. The association was founded to improve the living conditions of elderly people through cooperation between scholars and professionals across fields and disciplines.

Benefits for Members

Members benefit in many ways, from voting rights and CAG board positions to membership updates, networking opportunities, and subscription discounts. Additional benefits include access to archives, discounts on exhibiting and sponsorship, travel assistance, and discounted registration fees for the annual conference.

Conferences and Events

The association organizes different events and an annual conference with a focus on geriatrics and gerontology. The conference is organized as a multidisciplinary event and attended by community groups, the elderly, students, policymakers, decision-makers, practitioners, scholars, and other interested parties and stakeholders. The conference also offers organizations the opportunity to organize different workshops, symposiums, and preconference events, to advertise, become sponsors, and more. Workshop sessions focus on a wide variety of topics such as senior care, ambulatory and community care, university – community partnerships, the history of gerontology, and more. Other topics include dementia behaviors, hearing loss and accessibility, intelligent assistive technology and applications, age stereotypes, and others. There are different workshop, poster, and paper sessions as well as social events and symposia. Participants include organizations, universities, institutes, businesses, corporations, non-government organizations, and governmental agencies. Past participants include educational institutions and institutes such as the Center on Aging, School of Continual Education at the University of Manitoba, Nova Scotia Center on Aging, and others. Participants also include non-profit organizations such as the Canadian Virtual Hospice, Canadian Journal on Aging, and Canadian Geriatrics Society, among others.

Student Connection

This is a nation-wide network that aims to facilitate student participation and broaden knowledge of the process of aging. It was founded in 1997 to facilitate and deepen knowledge of aging and collaborate with gerontology societies, associations, and professional associations. A network was also established to facilitate access to grants and other forms of financial assistance. Student Connection supports the objectives, goals, and work of the Canadian Association of Gerontology and aims to facilitate access to information on job openings, grants, scholarships, research, and more. Student representatives are tasked with recruiting new members and organizing different events and activities at their colleges and universities. They have the chance to organize networking events and activities related to aging. Different events are organized, including research tours, preconference workshops, luncheons, membership experiences, annual general meetings, and a lot more. Recent graduates and students are welcome to attend all workshops and events.