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Financial Assistance

Everyone knows medical school is expensive; however, the Financial Aid Office at the Northern Ontario School of Medicine is here to help.

With the ever-increasing cost of tuition and living expenses, it is important to review your finances. There is a vast collection of resources for you as a medical student. Although it is ultimately up to you to decide how you will finance your medical education, the Financial Aid Officer is here to help you make important decisions.

Students may be eligible for provincial student loans from their province of residence. The Financial Aid Officer is able to help students gain access to the resources available such as provincial loans (i.e OSAP, etc) as well as NOSM bursaries, external awards and bursaries, and financial budgeting. Many financial institutions have professional student lines of credit designed specifically for medical students.

More than just budgeting money, financial planning involves informed decision making that will ultimately affect your standard of living.

Financial Aid Information Sessions

Applying for OSAP – Open to all students

Provides information regarding provincial loans, private lines of credit, and scholarships and awards.

View Financial Aid Information Presentation.

Financial Wellness

Comparative analysis of the NOSM Medical Students cost of living and typical expenses – Open to all students

Applying for NOSM Bursaries

How to session for the NOSM Bursary application form – Open to all students

View 2018-2019 Bursary Application Information Presentation

Graduating With Debt

Presentation focuses on the various programs available to help pay down a student loan. This is for students who have a loan with Canada Student Loans/National Student Loans.

Contact Information

Terry Oja

Financial Aid Officer

Learner Affairs and Equity

807-766-7474

Email: financialaid@nosm.ca

National Student Loans Service Centre (NSLSC) – Repayment

If you are in receipt of OSAP then you will have a student loan held with Canada Student Loans/National Student Loans Service Centre (NSLSC).

To payback your Student Loan, you will need to first REGISTER WITH NSLSC. You may want to bookmark that page, register, and save your password.

You may choose to either keep your loan with the NSLC or consolidate it and flip it over to a line of credit. Please note, if you intend on applying for the Canada Student Loan forgiveness for family doctors and nurses“, you must keep your loan with the NSLSC.

2019-2020 Tuition and Fees – NOSM students at Lakehead

Your NOSM tuition and required ancillary fees are shown in the chart below.

Payment of all tuition, ancillary, residence/meal plans etc. (if applicable) are to be made to the host university directly. For example, if you are attending NOSM at Laurentian University, you will make your payments to Laurentian University and if you are attending NOSM at Lakehead University, you will make your payments to Lakehead University.

Lakehead University Fees 2019-2020

Tuition and Ancillary Fee Due Dates

  Due Date  Amount
   1st Year 2nd Year  3rd Year  4th Year 
Full Payment of Tuition and Mandatory Ancillary Fees August 15, 2019 $23,173.90* $24,173.90 $24,173.90 $24,173.90
First Installment August 15, 2019 $11,550.40 $12,550.40 $12,550.40 $12,550.40
Second Installment December 16, 2019 $11,623.50 $11,623.50 $11,623.50 $11,623.50
 Tuition Fees $23,247.00 $23,247.00 $23,247.00 $23,247.00
Mandatory Ancillary Fee (Appendix C) $926.90 $926.90 $926.90 $926.90
Total $24,173.90 $24,173.90 $24,173.90 $24,173.90
*First year students pay a deposit of $1,000 on admission which is credited to their account prior to August 15, 2019.

Ancillary Fees

 1st Year 2nd Year  3rd Year  4th Year 
Essential Ancillary Fee $951.90 $951.90 $951.90 $951.90
Less Computer Enhancement Fee $25.00 $25.00 $25.00 $25.00
Total $926.90 $926.90 $926.90 $926.90
Non-Essential Fees $182.47 $182.47 $182.47 $182.47

Payment at NOSM at Lakehead University

Student Fees Payment Methods and Account Information can be found online or at the Financial Services Office, University Centre, Room 0002A.

Your Lakehead University issued Student ID# will be required to remit your fees in person. Please note, this is not your NOSM ID # that starts with 10#####.


Lakehead University Payment Due Dates 

August 15, 2019

Undergraduate Students pay in Full, Or First installment of 2019FW.

December 16, 2019

All remaining balances due for undergraduate students. Second installment is due.


Late Payment of Student Fees

Any student with a balance owing after a payment due date will not be eligible to receive a Letter of Good Standing until the amount owing is zero. Any student with a balance owing after four weeks past a payment due date will be in breach of the NOSM Code of Student Conduct, section 1.3 Responsibility, and will have this breach recorded on his or her Medical Student Performance Record.

The host university, Lakehead, reserves the right to cancel a student’s registration if the required fees are not paid according to the payment deadline dates. Students will not have access to final grades, official transcripts, and degree certificates until all money owing is paid.


Refund Schedule

At registration, a total of fees is calculated and charged to your student account. Refunds are based on total fees charged, not on the amount that has been paid. Compulsory ancillary fees are non-refundable once the academic year has begun. In the case of withdrawal, the amount credited to your student account will be based on the following schedule:

Refund Schedule
Withdrawal Date Percentage Refund
On or before September 16, 2019 100%
September 17, 2019 to November 8, 2019 75%
November 9, 2019 to January 6, 2020 50%
January 7, 2020 to February 9, 2020 25%
After February 9, 2020 0%

2019-2020 Tuition and Fees – NOSM Students at Laurentian

Your NOSM tuition and required ancillary fees are shown in the chart below.

Payment of all tuition, ancillary, residence/meal plans etc. (if applicable) are to be made to the host university directly. For example, if you are attending NOSM at Laurentian University, you will make your payments to Laurentian University.

Laurentian University Fees 2019-2020

Tuition and Incidental Fee Due Dates Students’ General Association (SGA)

  Due Date Amount
   1st Year 2nd Year  3rd Year  4th Year 
Full Payment August 9, 2019 $23,380.34* $24,380.34 $24,180.34 $24,180.34
First Installment August 9, 2019 $11,756.84 $12,756.84 $12,556.84 $12,556.84
Second Installment December 13, 2019 $11,623.50 $11.623.50 $11,623.50 $11,623.50
 Tuition Fees $23,247.00 $23,247.00 $23,247.00 $23,247.00
Incidental Fees (Appendix C) $1,133.34 $1,133.34 $933.34 $933.34
Total $24,380.34 $24,380.34 $24,180.34 $24,180.34
*First year students pay a deposit of $1,000 on admission which is credited to their account prior to August 9, 2019.

 

Tuition and Incidental Fee Due Dates – Association des étudiantes et étudiants francophones (AEF)

  Due Date Amount
   1st Year 2nd Year  3rd Year  4th Year 
Full Payment August 9, 2019 $23,127.40* $24,127.40 $23,927.40 $23,927.40
First Installment August 9, 2019 $11,503.90 $12,503.90 $12,303.90 $12,303.90
Second Installment December 13, 2019 $11,623.50 $11,623.50 $11,623.50 $11,623.50
 Tuition Fees $23,247.00 $23,247.00 $23,247.00 $23,247.00
Incidental Fees (Appendix C) $880.40 $880.40 $680.40 $680.40
Total $24,127.40 $24,127.40 $23,927.40 $23,927.40
*First year students pay a deposit of $1,000 on admission which is credited to their account prior to August 9, 2019.

Incidental Fees – Students General Association (SGA)

   1st Year 2nd Year  3rd Year  4th Year 
Mandatory Incidental Fees – SGA $1,133.34 $1,133.34 $1,133.34 $1,133.34
Less UPass Fees $200.00 $200.00
Total $1,133.34 $1,133.34 $933.34 $933.34
Non-Essential Fees $258.90 $258.90 $258.90 $258.90

Incidental Fees – Association des étudiantes et étudiants francophones (AEF)

   1st Year 2nd Year  3rd Year  4th Year 
Mandatory Incidental Fees – AEF $880.40 $880.40 $880.40 $880.40
Less UPass Fees $200.00 $200.00
Total $880.40 $880.40 $680.40 $680.40
Non-Essential Fees $129.74 $129.74 $129.74 $129.74

Payment at NOSM at Laurentian University

Student Fees Payment Methods and Account Information can be found online or at the Parker Tower, 1st Floor, R.D., P-111.

Your Laurentian University issued Student ID# will be required to remit your fees. Please note, this is not your NOSM ID # that starts with 10#####.


Laurentian University Payment Due Dates 

August 9, 2019

Undergraduate Students pay in Full, Or First installment of 2019FW.  (NOTE EXCEPTION: 1st year Laurentian students only: September 4, 2019 due date)

December 13, 2019

All remaining balances due for undergraduate students.  Second installment is due.


Late Payment of Student Fees

Any student with a balance owing after a payment due date will not be eligible to receive a Letter of Good Standing until the amount owing is zero. Any student with a balance owing after four weeks past a payment due date will be in breach of the NOSM Code of Student Conduct, section 1.3 Responsibility, and will have this breach recorded on his or her Medical Student Performance Record.

The host university, Laurentian, reserves the right to cancel a student’s registration if the required fees are not paid according to the payment deadline dates. Students will not have access to final grades, official transcripts, and degree certificates until all money owing is paid.


Refund Schedule

At registration, a total of fees is calculated and charged to your student account. Refunds are based on total fees charged, not on the amount that has been paid. Compulsory incidental fees are non-refundable once the academic year has begun. In the case of withdrawal, the amount credited to your student account will be based on the following schedule:

Refund Schedule
Withdrawal Date Percentage Refund
On or before September 13, 2019 100%
September 14, 2019 to October 4, 2019 75%
October 5, 2019 to December 27, 2019 50%
December 28, 2019 to January 24, 2020 25%
After January 24, 2020 0%

Estimated Yearly Costs and Available Funding

The estimated total cost for the first year of schooling at the Northern Ontario School of Medicine for 2019-2020 for a single student, with no dependents, is approximately $57,500 (*subject to change). This total includes tuition, ancillary fees, books, equipment, etc. plus living expenses.

We know that living expenses can be expensive. The following mechanisms are currently in place to minimize the impact of direct educational expenses for NOSM students:

  • In first and second year, accommodations and travel reimbursements are provided for modules that are completed outside of the students’ home campus.
  • The third year of medical education at NOSM is a comprehensive community clerkship (CCC) in a community outside Sudbury and Thunder Bay. Students may be eligible for reimbursement for up to $9,000 (*subject to change) through NOSM on behalf of the Ministry of Health and Long-Term Care fund, in recognition of the costs incurred during their time at a new community.
  • Fourth year at NOSM is a clerkship which includes core rotations at the hospitals in Sudbury or Thunder Bay and electives (as required). Students may be eligible to participate in the Clerkship Stipend Program (Known publically as the Final Year Medical Student Bursary Program-FYMB) through NOSM on behalf of the Ministry of Health and Long-Term Care which provides $9,000 (provided in quarterly payments of $2,250 *subject to change) stipend for their final year of medical school. Information on this program will be provided when you enter your final year.

Student Union/Association Health Plan

As a registered undergraduate Medical Doctor Program full-time student at either Lakehead University or Laurentian University, you have paid for, and are entitled to, all of the services that any full-time undergraduate student enjoys as a member of the university student union/association. Part of the fees you have paid include charges that go toward the student union/association sponsored Health Plan. Upon review of the health plan you may find that you have comparable coverage already in place. If this is the case and you meet all of the conditions, you may elect to waive the health plan coverage at the university campus at which you are registered.

To do this, you must contact the student union/association at the university so that you may complete an Opt-out Form. This will result in a refund of fees you have paid in support of the health plan. The deadline date to Opt-out of the Health Plan is late September. Please check with the campus student union/association for Final Opt-out Date information.

You are advised to contact the Lakehead University Student Union at 807-343-8259, or the Laurentian University Students’ General Association at 705-675-1151 ext.1064 directly for more information on the Health Plan and other services they provide.

Provincial and Territorial Assistance Programs

Every province and territory has a student aid/assistance program. Students may be eligible for provincial student loans from their province of residence. Each province or territory assesses applications, student need, and eligibility based on their own regulations. In Ontario, the program is commonly called OSAP (Ontario Student Assistance Program). For more information, kindly visit the OSAP website.

There are some important points to remember when considering applying for government student loans:

  • You must be a Canadian Citizen or have Landed Immigrant status to be eligible for government-funded student loans.
  • Student loans are real loans that need to be maintained and repaid. It is your responsibility to manage any and all of your student loans through all stages of borrowing.
  • Most student loans are intended to supplement a student’s financial resources; therefore, actual loan entitlements may not cover all expenses.
  • You must be enrolled in approved post-secondary programs and taking a minimum percentage of a full-time course load (e.g. 60% for OSAP) to be eligible for student loans.

Ontario residents should contact the Financial Aid Officer at NOSM for further information.

Out-of-province students should contact their applicable provincial student assistance program office for further information on government student loans.

Provincial and Territorial Contact Information


Alberta

Alberta Student Loans
Students Finance
P.O. Box 28000 STN MAIN
Edmonton, AB T5J 4R4
Ph: 1-800-222-6485
Website: http://studentaid.alberta.ca/

British Columbia

StudentAid BC
Ministry of Advanced Education
P.O. Box 9173, Stn Prov Govt
Victoria, BC V8W 9H7
Ph: 1-800-561-1818 / Fax: 1-250-356-9455
Website: https://studentaidbc.ca/

Manitoba

Manitoba Student Aid
Student Aid Office
409 – 1181 Portage Ave.
Winnipeg, MB R3G 0T3
Ph: 1-800-204-1685 (in Manitoba)
Ph: 204-945-2313 (outside Manitoba)
Website: studentaid.gov.mb.ca

New Brunswick

New Brunswick Student Financial Assistance Program
Student Financial Services
Department of Education
P.O. Box 6000, 548 York St.
Fredericton, NB E3B 5H1
Ph: 1-800-667-5626
Website: studentaid.gnb.ca

Newfoundland

Newfoundland & Labrador Student Financial Services Division
Department of Youth Services & Post-Secondary Education
P.O. Box 8700
St. John’s, NL A1B 4J6
Ph: 1-888-657-0800
Website: edu.gov.nf.ca/studentaid/

Northwest Territories

NWT Student Financial Assistance Program
Education, Culture & Employment
P.O. Box 1320
Yellowknife, NT X1A 2L9
Ph: 1-800-661-0793
Website: nwtsfa.gov.nt.ca

Nova Scotia

Nova Scotia Student Assistance
Student Assistance Office
P.O. Box 2290, Halifax Central
Halifax, NS B3J 3C8
Ph: 1-800-565-8420
Website: studentloans.ednet.ns.ca

Ontario

Ontario Student Assistance Program
Student Support Branch
Ministry of Training, Colleges & Universities
P.O. Box 4500
189 Red River Rd., 4th Floor
Thunder Bay, ON P7B 6G9
Phone: 807-343-7260
Website: osap.gov.on.ca

Prince Edward Island

Student Financial Assistance Programs
Student Financial Services
Department of Education
P.O. Box 2000, 16 Fitzroy St.
Sullivan Building, 3rd Floor
Charlottetown, PEI C1A 7N8
Ph: 902-368-4640
Website: http://www.studentloan.pe.ca/

Quebec

Aide Financière aux Études
Service de L’accueil et des Renseignements
1035, rue De La Chevrotiere
Québec, QC G1R 5A5
Ph: 1-877-643-3750
Website: afe.gouv.qc.ca

Saskatchewan

Canada-Saskatchewan Integrated Student Loans Program
Student Financial Assistance Branch
Saskatchewan Learning B21
3085 Alberta St.
Regina, SK S4P 3V7
Ph: 1-800-597-8278
Website: aeei.gov.sk.ca/student-loans

Yukon

Student Financial Assistance – Advanced Education
Department of Education
Government of Yukon
P.O. Box 2703
Whitehorse, YK Y1A 2C6
Ph: 867-667-5929
Website: http://www.education.gov.yk.ca/student-funding.html

Donor Funded Awards and Bursaries

Donor funded awards are made possible by the generosity of NOSM alumni, corporations, foundations and other friends of the school.  For a comprehensive listing of all current donor-funded awards available to NOSM students, please visit our Donor Funded Awards and Bursaries page.

The Benefits of Financial Aid

Support of student financial aid furthers the goals of NOSM students and the communities served by the School. The School’s Bursary Fund provides financial aid to medical students to help reduce the debt at the end of their training.

Bursary Money Awarded 2018 – 2019
NOSM General Bursary Fund (approximately) $378,931
Endowment and Annual Awards (approximately) $1,083,000
Number of Bursaries Awarded (approximately) 625