Canadian students Financing

[mwsung]

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Hello.

For canadian students out there who are accepted, how are you going to finance your study?

I've been calling Canadian banks and found out only RBC and BMO accept US schools and allow the student line of credits. TD and CIBC don't.
Are there any more banks?

RBC $150,000 total / without a cosigner / 4.25+1% / pay interest only monthly
BMO $120,000 total / limit 30,000/yr / need a REALLY strong co-signer /same rate / same payments

If I get the maximum limit, it will be about US$22,000. Will this be sufficient for most private schools or expensive public schools?

Government loan seems useful too since we don't have to pay anything after graduation. But, my concern is the paperwork.... how are we gonna receive the document and cash it???

Any other ways of borrowing money, except CanHelp?

Let's share the pain.
Thanks

 

[alucard]

hey mwsung,

i guess i'm in the same boat as you, actually, we even got into the same dental schools...

yeah, i checked rbc and bmo, they have 150,000 and 120,000 max for 4 years, in canadian funds, so that would be 225,000 u.s. in total. and you said you need a strong co-signer for the bmo loc, do you know how strong he/she needs to be? like earning $60,000 or more per year? or simply a stable income, has a house (have a mortgage or not?), etc...

i also called td, and they told me that i have to go to a branch to see if that school is eligible. and i called scotiabank, the person was unable to answer my question; but on their website, it seems that it's only for "not-for-profit canadian schools"....

i wonder what other canadian banks out there would have student loc's?

if you are from ontario, you can get $165/week additional funding from the federal government (not the provincial goverment), commonly called osap, which for sure i'll be applying. i never realized this is the max you can get from osap when going to a school outside canada, it really isn't a lot of money under this circumstance, but i guess that's best the government can do....as for paperwork, i guess you can do it online, there should be a way to do it, maybe direct deposit?

and of course, there's canhelp/teri, which i haven't looked into, but it seems they are at least able to cover the full cost, even though interest rate is high...

there's also personal line of credit, i don't know how much we can borrow from there, since students have virtually no income?

just edited, check citiassist, they might have something...

 

[Dr.BadVibes]

hey mwsung,

i guess i'm in the same boat as you, actually, we even got into the same dental schools...

yeah, i checked rbc and bmo, they have 150,000 and 120,000 max for 4 years, in canadian funds, so that would be 225,000 u.s. in total. and you said you need a strong co-signer for the bmo loc, do you know how strong he/she needs to be? like earning $60,000 or more per year? or simply a stable income, has a house (have a mortgage or not?), etc...

i also called td, and they told me that i have to go to a branch to see if that school is eligible. and i called scotiabank, the person was unable to answer my question; but on their website, it seems that it's only for "not-for-profit canadian schools"....

i wonder what other canadian banks out there would have student loc's?

if you are from ontario, you can get $165/week additional funding from the federal government (not the provincial goverment), commonly called osap, which for sure i'll be applying. i never realized this is the max you can get from osap when going to a school outside canada, it really isn't a lot of money under this circumstance, but i guess that's best the government can do....as for paperwork, i guess you can do it online, there should be a way to do it, maybe direct deposit?

and of course, there's canhelp/teri, which i haven't looked into, but it seems they are at least able to cover the full cost, even though interest rate is high...

there's also personal line of credit, i don't know how much we can borrow from there, since students have virtually no income?

just edited, check citiassist, they might have something...

Hey alucard...with your stats, you got waitlisted at Temple! I dont believe it! What went wrong?

 

[alucard]

Hey alucard...with your stats, you got waitlisted at Temple! I dont believe it! What went wrong?

hey dr. badvibes,

yeah, strange isn't it? i felt so good after my temple and louisville interview, but i didn't get in. when i called temple, the secretary said i was not on her list for this round of acceptance.... as with louisville, i remember at the exit interview, the vice-dean (who interviewed me) even told me i was in a good position, so all that was for nothing but an email saying how "we'd love to have you but an offer cannot be made at this time"? (and it costed me $700 for the trip to louisville)

ironically, i didn't feel so sure after my case and pitts interview especially my pitts one was on nov 22? but i found out i got in when i called! havent received any letter but i know it takes more than a week usually for letters to arrive....

i dont know what went wrong with temple, i remember that brian hahn asked us to email him if we were interested in coming to temple, which i did. but i did not go to his office to pick up the housing information pamphlet or booklet or something, maybe that's why. but i didnt go because my dad had friends in philly....whatever 😴

it's all good, i really felt in love with pitts after the visit, so i'm 90% sure that's where i'll go.

 

[mwsung]

Yes... I like Pitts too.... I just love the facility and architecture...
Great gym too!

I am just wondering how some people with 3.5~6 GPA get scholarships fom NYU and boston U.... do Pitts or Case offer something like that too?

I haven't received the acceptance letters yet (i called them), but even few thousand $ scholarships would be really helpful... and whichever offers me is where I am going to...