Describe your Debt Load! - Help: Aspiring PhD Student Needs Advice

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Help: Aspiring PhD Student Needs Advice

Printed From: CanadaStudentDebt.ca
Category: Other Topics
Forum Name: Describe your Debt Load!
Forum Description: Post stories of your debt and how it affects you and your family
URL: https://www.canadastudentdebt.ca/forum_posts.asp?TID=4118
Printed Date: 27/March/2026 at 5:19am
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Topic: Help: Aspiring PhD Student Needs Advice

Posted By: MsCD
Subject: Help: Aspiring PhD Student Needs Advice
Date Posted: 28/February/2007 at 7:32am

I am currently an undergraduate psych. student in Toronto, and plan on continuing to obtain my PhD. I am getting the maximum amount of student loan which is $11,999 (although I receive a $3,000 bursary each year, which is deducted from my total loan amount). I am looking at another several years in education, and simply cannot afford to pursue my dream without getting the full loan amount each year. Needless to say, this will leave me with a large debt when I finally finish my education (Approx. $63,000).

I am posting because I was hoping someone else might offer some advice. Has anyone else accrued such a large debt? I won't spontaneously combust when I receive my first payment total, will I?

I will be earning approx $50,000 per year (before taxes) when I graduate... Being a clinical psychologist is my dream, and I have no alternative but to pursue my goals by going deeply into debt. Any positive insight would be most appreciated. As you can imagine (and as you all probably know all-too-well) this amount of debt can be a really frightening prospect.

Thanks in advance for your help!

Replies:

Posted By: administrator
Date Posted: 28/February/2007 at 8:49am

For your graduate work you should apply for scholarships....visit your financial aid office and see what special bursaries etc...

There's a book out there on education grants in Canada. I'll try to track down the title.... Are your parents working? Check to see if there are any bursaries from their firm for their children.

Mark

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Administrator
Mark OMeara
Author of Let Go and Heal: Recovery from Emotional Pain
https://LaughSingWrite.com - http://bit.ly/heal2024

Posted By: frustrated-guy
Date Posted: 02/March/2007 at 5:45am

I am guessing your are female from the board name MsCD.

If you are female you can try applying for a Canada Study Grant for Females Pursuing Doctoral Studies

http://www.servicecanada.gc.ca/en/goc/csg_females.shtml - http://www.servicecanada.gc.ca/en/goc/csg_females.shtml

I understand that you have to be elgible for a Canada Student Loan to obtain the this grant and that an additional grant application is required.