Canadian student in need of a loan...

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Hi there,
I am a Canadian student and I was wondering what kindof loans I should be looking for to finance my dental education. Are there any loans specifically for Canadians attending US school. Any advice would be helpful. Thanks.

 

[jigabodo]

Hi there,
I am a Canadian student and I was wondering what kindof loans I should be looking for to finance my dental education. Are there any loans specifically for Canadians attending US school. Any advice would be helpful. Thanks.

You can try private loans, but in most cases you will need a cosigner that is a US citizen/resident also.

 

[Composite A2]

Hi there,
I am a Canadian student and I was wondering what kindof loans I should be looking for to finance my dental education. Are there any loans specifically for Canadians attending US school. Any advice would be helpful. Thanks.

I am in the same boat as you, and I am really lost on the best way to approach this.

 

[pbure]

canhelp or get a u.s citizen to co-sign for you..

 

[tamkhan]

You have two major sources:

1- RBC - amount of loan depends on the charges of the university you go to. However, you have to pay interest every month on the amount of money you USE. This is basically a line of credit where they open an account for you, and you take out as much as you want, but have to pay interest on a monthly basis.

BMO also gives out loans, but I've always heard of students going to RBC.

2- CanHelp - amount of loan is limited, I think. But, if the bank loan doesn't cover your amount, go to CanHelp and ask for assistance.

Also, you have to talk to several different banks to get your leg in. Some RBC reps will tell you that you can not get a huge loan without a good credit history, some will tell you that you need a co-signer and what not. Go to different branches and see which one is ready to accept your case.

 

[Ital91]

Get gov't student loans until you max those out b/c you dont pay interest until you graduate. Once you max out those( I think like 100 000 or 150 000) then get bank loans. Make sure you get prime rate and nothing more. I think BMO has a decent program

 

[tamkhan]

Yes, I think BMO has prime rates. RBC has prime + 1%. Both are similar in terms of what their policies are, though.

 

[Ewok1984]

I am in the same boat as you, and I am really lost on the best way to approach this.

Hey CompositeA

I was gonna to apply MWU as a Canadian but hesitated b/c of it's a new school that hasn't accredited. I am just wondering what is the estimated tuition per year at the school?

My parents and I have low income statues so far. Anyone know the max amount of loan that I can take out coming from a low income family? thanks

 

[tamkhan]

Hey CompositeA

I was gonna to apply MWU as a Canadian but hesitated b/c of it's a new school that hasn't accredited. I am just wondering what is the estimated tuition per year at the school?

My parents and I have low income statues so far. Anyone know the max amount of loan that I can take out coming from a low income family? thanks

It is illegal for banks (at least in Canada) to deny you a loan based on your income status. However, if your credit ratings are poor, they could use every trick in the trade to shy away. Normally, if you've been accepted to a dental school, they will give you a loan. Maximum amount listed in most banks is 150K.

 

[evernow28]

I am using the following sources:

1) OSAP - canadian govn't student loan
2) RBC - max of 150K for dental students - no cosigner if good credit. at prime.
tip here is, if you are turned down at a branch, try another. i was turned down at a local branch and turned down, but told of another branch from a fellow Canadian student in my class and applied over the phone from New York.
3) CanHELP - if above two are not enough.
I applied without a cosigner, and got 25K (per year).
4) work on campus - this will give you a social security number with which you can start building US credit, while giving you an extra source of income.
I personally applied for a summer research program and made ~4,000.

Good luck!

 

[tamkhan]

I am using the following sources:

1) OSAP - canadian govn't student loan
2) RBC - max of 150K for dental students - no cosigner if good credit. at prime.
tip here is, if you are turned down at a branch, try another. i was turned down at a local branch and turned down, but told of another branch from a fellow Canadian student in my class and applied over the phone from New York.
3) CanHELP - if above two are not enough.
I applied without a cosigner, and got 25K (per year).
4) work on campus - this will give you a social security number with which you can start building US credit, while giving you an extra source of income.
I personally applied for a summer research program and made ~4,000.

Good luck!

What type of on campus jobs are available? I mean, what type of jobs fit well into the schedule of dental schools?

 

[microserf123]

Hey evernow, which school are you at?

I am using the following sources:

1) OSAP - canadian govn't student loan
2) RBC - max of 150K for dental students - no cosigner if good credit. at prime.
tip here is, if you are turned down at a branch, try another. i was turned down at a local branch and turned down, but told of another branch from a fellow Canadian student in my class and applied over the phone from New York.
3) CanHELP - if above two are not enough.
I applied without a cosigner, and got 25K (per year).
4) work on campus - this will give you a social security number with which you can start building US credit, while giving you an extra source of income.
I personally applied for a summer research program and made ~4,000.

Good luck!

 

[Composite A2]

Hey CompositeA

I was gonna to apply MWU as a Canadian but hesitated b/c of it's a new school that hasn't accredited. I am just wondering what is the estimated tuition per year at the school?

My parents and I have low income statues so far. Anyone know the max amount of loan that I can take out coming from a low income family? thanks

I am really just as lost as you on the whole thing. However i think estimated tuition is in the high fortys.

 

[airsimon]

I am really just as lost as you on the whole thing. However i think estimated tuition is in the high fortys.

Estimateed total expenses at MWU (according to interview) was $81,000 for the first year. They said they hold the right to up that by 20% every year.

 

[Rock the DAT]

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