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Anyhow Know Any Good Private Loans for Canadians?

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ocean11

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Hi all... as a Canadian citizen studying in the US next year, I'm not eligable for most forms of federal/state sponsored loan programs. I'm wondering if anyone knows any good loan programs for Canadians to fund med school?

Thanks,
 

The Musketeer

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Originally posted by ocean11
Hi all... as a Canadian citizen studying in the US next year, I'm not eligable for most forms of federal/state sponsored loan programs. I'm wondering if anyone knows any good loan programs for Canadians to fund med school?

Thanks,

I have posted this on another thread:

I know many Canadian students that are in professional studies (dental, med) in U.S. apply for CanHelp. Dental and medical student can borrow up to $25,000/yr on their own, or $45,000/yr with a Canadian co-signer. You can get more information on CanHelp Website :

http://www.internationalstudentloan...udent/index.htm



I've chosen Royal Bank for now because I have gotten a deal/discount from them (with their student credit line). The rate is suppose to be prime + 1% but they give me a rate of prime only. However, RBC only give out $125,000 (Cdn) less other loans so I think I have to get CanHelp after. Although CanHelp does offer prime + 0.5%, I am not sure if they have any hidden fees.

Because we are Canadians, we have limited loan options when studying across the border.
 

dtreese

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Originally posted by Kalel
I don't know of any... So, anyways, have you seen Dr. Mom around here? She's about 6 feet tall, looks kinda like an ostrich or something, always pecking at people.

teehee.
 

behand

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Hey Iam canadian citizen as well and starting next year, anyhow I am applying to canhelp and plus a second privatre line of credit
royal bank, bank of montreal, scotia lend loans..hope u all the luck
 

The Musketeer

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Hey behand, have you look through the Canhelp booklet carefully because I believe they have a lot of underlying cost/interest that come with the loans, is that right?
 

ocean11

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yes that is right, I also read the 'fine print' for the CANhelp loans and they have ALOT of hidden costs. You almost pay back $2 for every $1 you borrow.

It's not worth it, just get a loan from the banks! + OSAP.
 

behand

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I would apply to osap, but they pay up to only 7000 which is nothing, and with banks you have to pay interest while your studying, which is not what I want, since I'd like to dedicate all my time studying and concentrate on school. for example first year RBC line of credit requires that you pay about 150 every month for interest and to do so I would need to work part time. second year I would have to pay 300/month and also I would have to go for a second loan, which would sum the total monthly intrest payment to 300 first year and 560 second year and so on. I know that with canhelp I would be paying more than I receive, but I dont have to pay monthly while I am studying.. If you guys disagree or want to share your ideas, I would really appreciate it, thanks.:thumbup:
 
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