Different colleges offer podiatry programs to young people who want to specialize in the treatment, diagnosis, and prevention of ankle and food problems and disorders.
To begin with, you need an undergraduate degree from an accredited establishment to become a podiatrist. There is one podiatric school in Quebec that offers D.P.M. degrees. Students can choose from different courses such as dermatology, traumatology, podiatry 101, and others. There are several colleges in Canada that offer podiatry programs, including College of Podiatric Surgeons of British Columbia, Podiatry College of Manitoba. Most programs take 4 years to complete and earn a degree. They give basic medical knowledge to young professionals followed by a residency program. Dual degrees are also offered. Students choose from courses such as physiology, gross anatomy, histology, and biochemistry during the first year. Sophomores can choose from courses such as biomechanics of foot function, general radiology, medical microbiology, and clinical neurology. The list of third-year courses includes internal medicine, clinical orientation, physical diagnostics, and physical medicine. Finally, there is a selection of advanced courses for seniors such as community and minority medicine, sports medicine, risk management, and medical psychiatry. Surgical and orthopedic seminars and internships are also offered.
There are different sources to look into, including scholarships and government and private student loans. Grants are also available. Another option is to apply for financial assistance under government programs, and financing is available through territorial and provincial student assistance offices. Some territorial governments do not participate in the CSLP (Canada Student Loans Program) but run their own programs. Nunavut, the Northwest Territories, and Quebec offer their own assistance programs. Students who apply with territorial and provincial offices are asked to provide proof of enrollment. Those who do not qualify under government programs may want to check with different financial establishments in Canada such as RBC, CIBC, Toronto-Dominion, and other big banks. Credit unions, small banks, and other financial institutions also offer student loans. Lifeoncredit.ca offers financial advice that young people so often need.
While many banks offer financing, the interest rate is usually higher compared to government-sponsored student loans. Some parents also apply for home equity and mortgage loans to pay for college. The main benefit is that secured versions are cheaper, i.e. the interest rate is considerably lower because they are secured by collateral. An intra-family loan is yet another idea whereby you borrow from your parents or other family members. Maintenance and tuition fee loans are also available. In addition to borrowing solutions, there are other ways to finance your college education, including bursaries and maintenance grants. If you have exhausted all other options or need more money, you may want to think for a part-time or second job. Check bank overdrafts as well. Many financial institutions advertise interest-free overdrafts for college students. If you are unsure where to start, check with your hardship office or student advisory service.
Many podiatrists face financial problems after college because of piling loan and card debt. Tuition fees are constantly on the rise, and many students are forced to look for additional funding. While fees vary, a year of study may cost you over $8,000.
The outlook for recent graduates is grim, and reports show that grads are increasingly jobless across disciplines. A survey conducted by the Council of Ontario Universities shows that the number of graduates who are able to find work has significantly dropped. Salaries have also declined on average. Given the fact that many graduates have student loans to repay, the drop in salaries means a lower standard of living, and many grads experience financial hardship. Some students have multiple debts to repay, including credit cards, consumer and auto loans, and other balances. See this article: Top 6 Secured Credit Cards for Canadians; and this article: So You Have Bad Credit but Need to Get a Car Loan. Debt is a major issue for students in medical programs, and reports show that students graduate with a total debt of $180,000. This debt is, in fact, before residency training meaning that borrowers cannot apply for student loan forbearance.
Financial experts share the opinion that graduates need better financial literacy and education to deal with debt. It is important to get a better idea of how to manage credit and learn tax saving strategies to qualify for credit deferments. See: Credit and Loans. There are different loan forgiveness programs and ways to approach them as well. Shopping around for reasonable interest rates pays in the long term. It is a good idea to lock into low interest rates to save on payments as well. Look at loan forgiveness programs for public service offered by the provincial and federal governments as well. See: Loan Forgiveness. Another option is to go for an income-based repayment plan as a combination of repayments and loan forgiveness which is based on your income level. At the same time, as residents, graduates in podiatry have different academic and clinical responsibilities to take care of. Choosing an appropriate repayment plan is especially important in case there is no other income source from a partner, common law partner or spouse to help. The choice of a repayment plan that is comfortable to manage depends on different factors, including family size, income level, and debt load.
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