U of T Faculty of Medicine Boosting Student Aid: Increasing access and reducing student debt for those most in need.
NEWS:
To help keep tuition affordable, the University of Toronto’s Faculty of Medicine is expanding its medical student admissions bursary program for those who need financial support the most.
Tuition costs have been rising all across Canada in recent years. On average, students in the Undergraduate Medical Education program graduate with more than $80,000 in debt. Some students from lower-income families will graduate with up to twice as much debt.
To help ease the financial burden for students, the Faculty is increasing its medical student admissions bursaries from six to 10 this year, in addition to our regular student financial aid program. The Faculty is also increasing the total dollar amount of these high-needs bursaries — from $50,000 to $80,000 per student over the four-year Doctor of Medicine Program — helping students to better afford the costs of a medical education.
The Faculty of Medicine is committed to providing access for all students — regardless of their financial situation. That’s why increasing student aid and awards was a key part of the Faculty’s recently launched Boundless fundraising campaign. When finished, the new campaign will add another $100-million in direct student support.
QUOTES:
“Our goal is to ensure that, independent of economic background, we attract and support the most qualified individuals entering our medical education program. Investing in our outstanding medical students enables them to choose training in clinical service areas focused on their passion and commitment with less concern about financing personal debt as they enter practice.“
-Dean Catharine Whiteside
“Without the generous financial support I received, I never would have been able to go to medical school while gaining clinical care experience as a primary care paramedic. It allowed me to have a very well-rounded learning experience without worrying about overwhelming debt, and helped to make my dreams of becoming a doctor a reality.”
-Ahmed Taher, third-year MD student and former President of the Medical Society
QUICK FACTS:
Tuition and fees for a first-year MD student are just over $21,000.
More than 70 per cent of students enrolled in the MD program graduate with debt. The average debt load for recent graduates has been more than $80,000.
The first-year MD student average budget (including books, equipment, rent and other living expense costs) is just over $39,500
About 70 per cent of MD students participate in the undergraduate medicine student aid program
U of T’s Faculty of Medicine trains more than half of all practicing specialists and more than one-third of all family physicians in Ontario
LEARN MORE:
Find out more about how to apply to U of T’s Undergraduate Medical Program here, or connect to the admissions Twitter feed here.
Watch a video about the impact being made by the University of Toronto’s Faculty of Medicine.
