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Canadian Students-HELP
- Thread starter sallyubc
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Sally,
regarding the visa, I called tufts and I have to apply through them. I dont know how it works for your school. But call and ask. I was told that for canadians, getting a visa is really easy, and you only need 90 days before school starts to apply for one.
regarding the visa, I called tufts and I have to apply through them. I dont know how it works for your school. But call and ask. I was told that for canadians, getting a visa is really easy, and you only need 90 days before school starts to apply for one.
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Hey Sallyubc,
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)- 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.
As for student visa, I think you should apply after when you have decided which school will be attending because in order to get your I-20, the school will require a certified letter from your bank to indicate that you have enough funding. I have went to my bank yesterday and they told me that this process will take 10 days. After that, you will then have to send this letter to the school so they can start on the I-20 application.
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)- 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.
As for student visa, I think you should apply after when you have decided which school will be attending because in order to get your I-20, the school will require a certified letter from your bank to indicate that you have enough funding. I have went to my bank yesterday and they told me that this process will take 10 days. After that, you will then have to send this letter to the school so they can start on the I-20 application.
Hey guys,
Don't we need though to show that we can pay for school inorder to apply for a visa. but the problem schools don't start certifying the canhelp loans untill the end of June which is one month before school starts!!, dentaldream, did you apply for canhelp yet?
Musketeer, do you need to pay the interest every month to royal bank???
Cheers,
SAL 🙂
Don't we need though to show that we can pay for school inorder to apply for a visa. but the problem schools don't start certifying the canhelp loans untill the end of June which is one month before school starts!!, dentaldream, did you apply for canhelp yet?
Musketeer, do you need to pay the interest every month to royal bank???
Cheers,
SAL 🙂
Hey sally,
The *******es at Can help havent sent me an application yet. I called them last week and it turns out they had my address wrong. So hopefully I'll get my application by next week.
When does school start for you? Mine starts at the end of august.
The *******es at Can help havent sent me an application yet. I called them last week and it turns out they had my address wrong. So hopefully I'll get my application by next week.
When does school start for you? Mine starts at the end of august.
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Sally, unfortuately RBC student credit line interest starts as soon as you borrow the money (I guess it is similar to using a creditcard), however, I am not sure whether the interest will be accumulated monthly but I will find out in 10 days.
Dentaldream, I suggest you call him and ask for another one, that way if you screw up on the first one you will still have the backup right there, without enduring this LONG PROCESS again...the delievery time ranges from 2 weeks to a month. The phone # is (888)296-4332.
Dentaldream, I suggest you call him and ask for another one, that way if you screw up on the first one you will still have the backup right there, without enduring this LONG PROCESS again...the delievery time ranges from 2 weeks to a month. The phone # is (888)296-4332.
musketeer,
Are you saying to ask them to send 2 applications? How did you do this, did you just give them a fake name for the 2nd application? Sounds like a good back up.
Are you saying to ask them to send 2 applications? How did you do this, did you just give them a fake name for the 2nd application? Sounds like a good back up.
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No, just called them and told them I have not receive the one that I have requested online. Right now, I have 2 applications available.😀
You can request it online??? Whats the address?
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thanks
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Would you say bank loans or CanHelp is better? Without doing much research on this, I would say bank loans are much better
Dentaldream,
Muskateer is right, you can send for an application online, I did iyt that way, although it takes a long time to get it...
I think the rates that banks give is great but the problem it is still not enough to cover all the expenses so we end up applying to canhelp anyways... it really bothers me to have loans from so many resources because am applying to canada and BC student loan anyways which is gonna be around 13000 canadian...
But on the other hand the interest rates of the banks are much better...hmmmmm so it is a tricky one...
also I calculated that if I spent the whole 125000 from the bank, I have to pay arond 400 monthly for interest...
Anyways, I guess am just thinking out loud...
it is soo stupid, organization don't certify your loan until school approve it which they do at the end of June then you can't get a visa till you show them you have the money which you can't because you are waiting for the schooll hehehehe
dentaldream school start Aug 2nd for me, coming sooo soon
Good luck guys
Muskateer is right, you can send for an application online, I did iyt that way, although it takes a long time to get it...
I think the rates that banks give is great but the problem it is still not enough to cover all the expenses so we end up applying to canhelp anyways... it really bothers me to have loans from so many resources because am applying to canada and BC student loan anyways which is gonna be around 13000 canadian...
But on the other hand the interest rates of the banks are much better...hmmmmm so it is a tricky one...
also I calculated that if I spent the whole 125000 from the bank, I have to pay arond 400 monthly for interest...
Anyways, I guess am just thinking out loud...
it is soo stupid, organization don't certify your loan until school approve it which they do at the end of June then you can't get a visa till you show them you have the money which you can't because you are waiting for the schooll hehehehe
dentaldream school start Aug 2nd for me, coming sooo soon
Good luck guys
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Hey sally, you can actually get some loans from your province? In Ontario, we are not eligible for Ontario Student loan, only the Canada Student loan which at maximum, gives us $165/academic week. 😡
Which school will you be going to? If it is Case, I might see you there!
Hey Musketeer,
Yes I will be going to CASE...
Yay, are you going to case for sure
Yes am gonna be applying to BC student loan as well
SAL 😎
Yes I will be going to CASE...
Yay, are you going to case for sure
Yes am gonna be applying to BC student loan as well
SAL 😎
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Originally posted by sallyubc
Hey Musketeer,
Yes I will be going to CASE...
Yay, are you going to case for sure
Yes am gonna be applying to BC student loan as well
SAL 😎
Right now I am 95% sure I will be there!😛
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Hey Canadian buddies...I dont know much about student visas for Canadians, but I just want to give you a heads up to what I found out today:
In order to receive an I-20, you have to have at least half of the money for the first two years tuition in your bank account not coming from pre-approved loans.
So for instance, the first two years at Tufts cost $130 000, so when you apply for your I-20 student visa, you need to have $65000 of it by yourself and not from loans in your bank account.....
In order to receive an I-20, you have to have at least half of the money for the first two years tuition in your bank account not coming from pre-approved loans.
So for instance, the first two years at Tufts cost $130 000, so when you apply for your I-20 student visa, you need to have $65000 of it by yourself and not from loans in your bank account.....
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I guess that is where banks' credit line becomes handly, right?
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That's interesting, because when I applied for the I-20, I only had to show proof that I do have a loan from canHelp...they never requested any info about my bank accounts.
Hot-n-Aml
_______________________________________________
UPitt, SDM, Class of 2007
Hot-n-Aml
_______________________________________________
UPitt, SDM, Class of 2007
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So maybe it depends on the school. I guess private schools will demand more proof since they have higher tuition and want to protect themselves.
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I guess you're right about it being specific to each school, because Pitt is a private school as well.......I got this information from Tufts...
OH GOd,
Hopefully Avingupta's information is not accurate... If we had that sort of money in the bank, why would we need a studen loan...
I have to call case and ask the international office about that...
Muskateer, that would be great if you go to case, hey at least I know somebody already
Cheers,
SAL
Hopefully Avingupta's information is not accurate... If we had that sort of money in the bank, why would we need a studen loan...
I have to call case and ask the international office about that...
Muskateer, that would be great if you go to case, hey at least I know somebody already
Cheers,
SAL
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Hey Sally, I have already asked Case International Student Service about it and this is their response:
Derek,
As the immigration laws now read, it is very easy for a Canadian citizen to enter the U.S. in student status. All you need at the border is proof of Canadian citizenship, proof of financial resources and an I-20 issued by the accepting school. And of course, we will issue you an I-20 as soon as we have received proof of financial resources for the first year in school ? $56,650 ? tuition, living expenses and cost of a dental kit.
and...
First, the Dental School has to send me a copy of your application along with a letter of admission. Second, we need the financial documents I mentioned in my previous email. Once we have all the documentation, we will type the I-20 and mail it to you in Canada. The I-20 will indicate a start date of July 1, 2004 and regulations will permit you to enter the U.S. 30 days prior to that date.
In other words, you may come to Cleveland as early as June 1st and settle in for your new semester. As to your I-20, we sign it before sending it to you, you sign it in front of the immigration officer and they stamp it when you pass immigration inspection.
If you have further questions, please don?t hesitate to contact me.
Edith Berger
[email protected]
Director
International Student Services
Case Western Reserve University
Cleveland, Ohio 44106
216-368-2517 (Telephone)
216-368-4889 (Fax)
and the letter Case ISS sent to us stating just a 'certified letter from your bank or agency attesting to your source of funds while studying at our university'...that is why I have begun to set up a RBC credit line, at least those $125,000 from the bank will be enough funding for this coming year, and therefore be eligible to receive the I-20.
Derek,
As the immigration laws now read, it is very easy for a Canadian citizen to enter the U.S. in student status. All you need at the border is proof of Canadian citizenship, proof of financial resources and an I-20 issued by the accepting school. And of course, we will issue you an I-20 as soon as we have received proof of financial resources for the first year in school ? $56,650 ? tuition, living expenses and cost of a dental kit.
and...
First, the Dental School has to send me a copy of your application along with a letter of admission. Second, we need the financial documents I mentioned in my previous email. Once we have all the documentation, we will type the I-20 and mail it to you in Canada. The I-20 will indicate a start date of July 1, 2004 and regulations will permit you to enter the U.S. 30 days prior to that date.
In other words, you may come to Cleveland as early as June 1st and settle in for your new semester. As to your I-20, we sign it before sending it to you, you sign it in front of the immigration officer and they stamp it when you pass immigration inspection.
If you have further questions, please don?t hesitate to contact me.
Edith Berger
[email protected]
Director
International Student Services
Case Western Reserve University
Cleveland, Ohio 44106
216-368-2517 (Telephone)
216-368-4889 (Fax)
and the letter Case ISS sent to us stating just a 'certified letter from your bank or agency attesting to your source of funds while studying at our university'...that is why I have begun to set up a RBC credit line, at least those $125,000 from the bank will be enough funding for this coming year, and therefore be eligible to receive the I-20.
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Hello fellow Canadian students,
As for the banking, do we need to open an account in US?
If I am going to New York, do I need to find a bank there and open an account and deposit $$$ for tuitiong and living expenses?
or do I just use the current Canadian bank?
I am not good at banking stuff... so can somebody explain me how it works?? also Visa thing too?
thanks so much
As for the banking, do we need to open an account in US?
If I am going to New York, do I need to find a bank there and open an account and deposit $$$ for tuitiong and living expenses?
or do I just use the current Canadian bank?
I am not good at banking stuff... so can somebody explain me how it works?? also Visa thing too?
thanks so much
I just finished talking to the international affairs dept at Tufts. You do need to have $65,000, but that does not have to be in your bank account. You can use your parent's info.
Also, this $65,000 you report for your I-20 is not necessarily the money you will use to pay for school. It just shows the school that in case for some strange reason you are not approved for any loans you have the resources to pay for at least your first two years.
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Unless your Canadian bank has an affiliation with a bank around New York, I suggest that you start up a new account in NYC. For tuition and stuff, I suggest that you do a wire transfer from your Canadian bank to your U.S. bank (it is I think the safest and best way to move a large chunk of money). I don't think Canadian bank will work here because if will take more time to transfer the money down here and they will charge you service charges each time you do this.
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If you are able to get the $125,000 credit line from the bank (for me it's RBC) and the proof of approval of this, then this will be sufficient in satisfying the criteria in applying for the I-20...at least that's what the people at Case told me.
Hey Musketeer,
Did you need a cosighner for the line of credit that you got?
Cheers,
SAL😀
Did you need a cosighner for the line of credit that you got?
Cheers,
SAL😀
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No, the $125,000 credit line is independent (w/o a co-signer), however my parents are also able to get a separate credit line for another $160,000 Cdn. So I will have around $285,000 towards my tuition.
The $125,000 credit line from RBC are made specifically for grad and professional students. You are able to get this without a co-signer because they have already taken account of your income after graduation which they set at $100,000.
The $125,000 credit line from RBC are made specifically for grad and professional students. You are able to get this without a co-signer because they have already taken account of your income after graduation which they set at $100,000.
Hey Musketeer,
Did you find out wheather you have to pay the monthly interest or they will just accumulate???
Cheers,
SAL
Did you find out wheather you have to pay the monthly interest or they will just accumulate???
Cheers,
SAL
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Sally,
Not yet, I will meet with the RBC consultant next fri so I will give you an anwer then!
Not yet, I will meet with the RBC consultant next fri so I will give you an anwer then!
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Here are some information for people who are interested in applying for the RBC Credit Line for Professional Students:
http://www.rbcroyalbank.com/products/personalloans/rcl_for_students_pro.html
and Sally, the answer to your question will be forthcoming.
http://www.rbcroyalbank.com/products/personalloans/rcl_for_students_pro.html
and Sally, the answer to your question will be forthcoming.
W
Woodsy
Hey MWSung are you the same guy on the Canadian dental message forum and if so, did you get into harvard? And why aren't you going to Harvard?
With respect to setting up an account you guys reccommend that I get an American account with the money or they can check my Canadian account?
Thanks
With respect to setting up an account you guys reccommend that I get an American account with the money or they can check my Canadian account?
Thanks
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You should set up a U.S. account because it will take time for the U.S. bank to check your Canadian account, especially since most U.S. banks are not affiliated with Canadian banks. Also I am sure service charge will be incurred with this process.
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Originally posted by sallyubc
Hey Musketeer,
Did you find out wheather you have to pay the monthly interest or they will just accumulate???
Cheers,
SAL
Sally, I've just found out and you do have to pay monthly interest on whatever amount you've borrowed/used from the credit line. They will take the interest payment directly from your bank account and the interest is updated daily.
Hope that answers your question!
