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For all of you graduated dentists in Canada....
How much is your monthly/bi-monthly payment for your Canada/Provincial student loan? How much is your monthly/bi-monthly payment for your bank's Line of Credit?
It seems that you don't have to start paying off your bank Line of Credit until a year after you graduate (and I have heard that the interest rate for that is negotiable upon graduation). But you DO have to start paying off the Canada/Provincial student loan until 6 months after you graduate.
I've calculated that I will come out of dental school owing roughly $120,000 on my bank Line of Credit and $80,000 on my Canada/Provincial student loan... after 4 years of DDS at Dalhousie University and living in Halifax, NS.
I'm just trying to get a sense of how long this is going to take to pay off, it's almost like mortgaging another house!
How much is your monthly/bi-monthly payment for your Canada/Provincial student loan? How much is your monthly/bi-monthly payment for your bank's Line of Credit?
It seems that you don't have to start paying off your bank Line of Credit until a year after you graduate (and I have heard that the interest rate for that is negotiable upon graduation). But you DO have to start paying off the Canada/Provincial student loan until 6 months after you graduate.
I've calculated that I will come out of dental school owing roughly $120,000 on my bank Line of Credit and $80,000 on my Canada/Provincial student loan... after 4 years of DDS at Dalhousie University and living in Halifax, NS.
I'm just trying to get a sense of how long this is going to take to pay off, it's almost like mortgaging another house!
