
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
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 | $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 | $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) |
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---|---|---|---|---|---|
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 | $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 |
British Columbia
StudentAid BC |
Manitoba
Manitoba Student Aid |
New Brunswick
New Brunswick Student Financial Assistance Program |
Newfoundland
Newfoundland & Labrador Student Financial Services Division |
Northwest Territories
NWT Student Financial Assistance Program |
Nova Scotia
Nova Scotia Student Assistance |
Ontario
Ontario Student Assistance Program |
Prince Edward Island
Student Financial Assistance Programs |
Quebec
Aide Financière aux Études |
Saskatchewan
Canada-Saskatchewan Integrated Student Loans Program |
Yukon
Student Financial Assistance – Advanced Education |
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 |
External Awards, Bursaries and Scholarships
Indigenous Awards, Bursaries and Scholarships
- Indigenous Bursary System (Government of Canada)
- Indigenous Bursary Search Tool
- The Canadian Medical Foundation
- Metis Nation of Ontario
- Indspire
- Post-Secondary Student Support Program – PSSSP
- College of Family Physicians of Canada (CFPC) – Indigenous Medical Student Scholarship
Francophone Awards, Bursaries and Scholarships
Open Awards, Bursaries and Scholarships
- OMA Medical Student Bursary Fund
- Northern and Rural Recruitment and Retention Initiative
- RBC Scholarships for First Year Medical and Dental Students
- The Canadian Medical Foundation
- City of Thunder Bay Medical Student Award
- College of Family Physicians of Canada – Opportunities for Medical Students
Other Awards, Bursaries and Scholarships
- Student Awards
- Health Force Ontario – Clerkship Travel Program
- CanLearn – Canada Student Loan Forgiveness for Family Doctors and Nurses
- American Osler Society – William B Bean Student Research Award
- Storwell – Foster Child Bursary Program
- Canadian Armed Forces – Medical Officer program
- Janine Williams Memorial Scholarship
- Eye Foundation of Canada Summer Scholarship Program Website