Bursaries go up to $15,000 now, but regardless of that, a $15,000 bursary still puts you at $11,000 in tuition charges. That's why I said the generosity is rather disappointing in relation to the cost of tuition. Somebody in the level of financial need required to get $15,000 in bursaries from Oz, and thus paying $11,000 in tuition charges, is probably paying a few grand tops at UBC.
Yeah, photographic memory doesn't exist. Some people are really good at remembering details, but that is not so much "photographic" as it is very good recall. The verbatim recitation of a book as demonstrated by whatshisface in the first episode of Suits, if you've seen it, is not possible to do without substantial effort. Can you memorize a whole book and recite it verbatim? Sure, but not just by looking at it once (or even a few times).
Even if it were possible to do so, I don't see how it would help you with the LSAT. The exam is all about thinking, not about remembering. Maybe as others said, it could help you on the reading comprehension section, but even that is a bit more about extracting meaning rather than regurgitating what you read quickly.