Canadians studying in the States.

[AcidETCH]

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I would like to know how some of you Canadian students are going to be able to finance your education in the states. I know that there are professional student credit lines available as well as the "mommy fund", but are there other ways of getting money to study in the states? Any advice would be very appreciated. Thanks.

AE

 

[Ranman]

I think bank loans are our only option. CIBC line of credit is the route I'm going. CanHELP and provincial loans are also out there.
That's all I could find.

Ranman

 

[mitwa]

if you're from ontario you can also try osap.....i don't think they give you much but something is better than nothing....and if you know of an amercian co-signer then you can apply for loans in the states.

 

[DesiDentist]

So let me get this straight. If you are a Canadian and attend UPENN (~ $250,000 US) are you actually borrowing in canadian dollars so your borrowing ($375,000) in the exchange rate if it is 1.50 cd /1.00 us?

do you plan to work in the US? Is it legal to work here if you study from canada? How much do dentists make in canada? How long does it take to pay off your loans there?

DesiDentist

 

[mitwa]

desi,

you are borrowing in canadian funds which is why a lot of canadian students are worrying about loans.....dentists here make about the same as dentists in the us but in canadian funds. i personally plan to move to the states after i am done school and make american money which will help me out...there are some canadian students who back to canada....it takes some time but one day the debt does go away!!

 

[tinker bell]

With that much debt, how many Canadians end up going to specialty programs? Any statistics?
T

 

[sallyubc]

HI guys,
Ya am from vancouver and am applying to US schools and the debt always worry me but oh well as you said it will be paid one day!! 🙄
There is also Novascotia professional schools loans!!

SALL

 

[D.I.T]

How much interest do you think pay following graduation with a debt load of 300-400K US from some schools like USC, NYU, BU or Tufts? Just get out a calculator and figure out what the interest will be on 300K US (480K CDN) assuming compund interest at 5% interest per annum. It's a hell of alot.

Young dentists will tell you that they don't make enormous amounts of money. There is still living expenses, taxes, and misc. things to take care of before you have to pay your debt off. Not much left over as disposable income. I would hate my life if I had to pay off a student loan for 10-15 years and not be able to live the life that I envision medical and dental professionals live. No wonder some dentists are not happy with their lives---debt is a major stressor in life.

Additionally, Canadian dental students in the US are not generally eligible for the financial aid that US students receive. The US financial aid program is far superior to ours and puts Canadian students at a financial disadvantage. The moral of this is that I implore to try your best to gain acceptance to a Canadian school--I look at it as hitting the lottery and winning $300,000.

 

[Big_Poppa DDS]

I am Canadian and graduated from a US school. Its very easy to work in the US, Under a TN visa obtained at the border in about 20 min, but you cannot be the owner of a business unless you get a green card - which marriage is the easiest way for that. I plan on working in the US for 1 - 2 years and then go back to Canada.

 

[Frank Cavitation]

Big_Poppa DDS,

I know I am rehashing an old topic here, but I was wondering if you needed to get your employer to sponsor you and if so, whether this was a complicated process.

I would also like to know if I can do the following:
1. Finish dental school (in canada)
2. write part 1 and 2 US boards at the same time (too busy
to write part 1 this summer 🙁 )
3. find work in the states

thanks.

 

[busupshot83]

I'm from TO, and living/studying in the States. I'm gonna apply for financial aid if I can; if I can't, then I'll bus a loan.

pce,

bus

p.s. - Its good to see Canadians making it happen!

 

[shashasha]

Hi this is my first post

I finally made up my mind to attend Penn in the coming September, I chose to go to US school cuz I want to study in a different environment and receive dental education from a good school such as Penn. I think I'll definitely benefit in the long run. As for the money issue, I'll get some help from the family, and the rest from CitiAssist or Teri private loan (since I have a creditworthy us co-signer). Debt is going to be scary but I believe to become a successful dentist everyone had to go through this struggle. I'll actually have 3 friends going down to Penn with me so it's gonna be fun!

Hey Desi remember me from the pre-dental email list? I finally made up my mind to go to Penn now!


By the way anyone here familiar with the CitiAssist private loan? I think it's one of the best ones that I looked up.

 

[LestatZinnie]

Hey fellow canadians. I'm from Vancouver as well...Did you guys consider Canadian schools or did you from the start decided you want to study in the US?? Consider that the tuition in US is more than twice that of Canada...I can't imagine myself doing it. Even the dentists I talked to don't recommend it, unless you have rich daddies to bankroll it. With more than 300k CAD in debt...how much do you expect to make starting out and how long do u expect to pay it off? WHen USC asked me to interview I didnt even bother to go, because many people can't even save the kind of cash they're asking for tuition!! I'll be owing 160k at UBC in 4 yrs...and I'm already scared to death....

 

[caninus]

Did you guys find any lender in Canada that doesn't require a cosignor with collateral assets? CanHelp is so far the only one that will give you up to US45K /year with a cosignor based on his income and credit rating and not collateral assets. I contacted Scotiabank and the deal is that you can get a credit line but only with assets or a cosignor with assets. Well I have none of these. CIBC told me that they have loans only for Canadian Universities... Other banks too. US lenders require a US cosignor...
Any ideas out there???

 

[Hot-n-Aml]

Hi there,

The best loan for Canadians is the CanHelp, mainly because it is only based on your co-signers credit history, and not their assets. So if your Canadian co-signer has satisfactory credit history, you're set. Plus, don't give up on the CanHelp if you feel your co-signer is not credible...from what I've heard they can be very flexible with their loans...as well, knowing that you will be a dentist gives them some security of repayment, so they will be throwing money at you.

I plan on attending UPitt, and after researching loans, the CanHelp is the best option. You can try Canadian federal loans, but the most you would get is $5000 Canadian...but it helps.

I think CIBC offers 80K line of credit without a co-signer...but I haven't really looked into it.

So I do feel that if there is a will, there is a way. Good luck!!


__________________________________________________
University of Pittsburgh, School of Dental Medicine, Class of 2007

 

[busupshot83]

LestatZinnie,

Yes, I did consider coming back "home" to study. The problem is quite simple: to little schools with to much competition. Also, it seems that all of the schools want different requirements for the science part, making it a huge hassle to take "more sciences courses than needed" to get in. Whereas in the US, almost all of the schools require Chem, Bio, Physics, and Organic; Canadian schools each have different requirements.

pce,

bus

😛 😳 😀

 

[busupshot83]

Frank Cavitation,

As for your question: to my knowledge, obtaining a DDS degree from a Canadian dental school requires you to just have to pass the US state licensure examinations (you would have passed the National Boards already in Canada). I think this is true; someone correct me if I'm talking out of my arse.

pce,

bus

 

[caninus]

Thanks Hot-n-Aml for your input,
-I did contact CanHelp and it looks like they will cover "only" US$45,000 a year (my school -UOP-costs around US$110,000 a year - tuition + costs of life for me and my family).
-I called CIBC and they told me that they give loans only for Canadian schools - did you have a different experience with them?
-Scotiabank asks for a cosignor with collaterals.
-Where did you get the amount of only CDN$5,000 per year from the Canadian and provincial governments combined? When I called them, I've been told that I could get a maximum of CDN$ 24,000 per year. Are my infos wrong?
Please reply.😕 😕

 

[Hot-n-Aml]

Hi Caninus,

I totally understand where all your stress is coming from...and UOP is very expensive.
I hope you are right about the 24K Canadian loan, because I was told that since I live in Ontario, OSAP would only give me 5K of the 15K that I would potentially get if I was going to a Canadian dental school. But now that you have given me this new information, I am definitely going to check this out.
My CIBC information came from a booklet I got from CIBC. It is called the Professional Edge, and nothing was writen about where I was going to school, only that I was entering a professional school program. The 80k line of credit could be taken out without assets as well...but of course, I can be wrong. I'm definitely going to talk to them about school location.
I'm not familiar with the other banks...but I hope my information helps. If I hear anything else that might be helpful, I'll post a message.

Good luck,
Hot-n-Aml
_______________________________________________
University of Pittsburgh,School of Dental Medicine

 

[Frank Cavitation]

thanks for the reply... since you are a student in the US I would guess you know what you are talking about in terms of citizenship stuff...

without a US birth cert or green card I thought it was impossible to get work of any sort there, right? So doing GPRs or working in an associateship will need sponsorship of some kind, otherwise I get arrested by INS and kicked north of the border?

 

[busupshot83]

Frank,

You are right. I am from Toronto, but I am a legal resident of Florida. If you don't have your papers (citizenship or greencard or visa), then you won't beable to work; obviously. Your best bet is to apply for a work permit in a state that has a shortage of doctors. Minnesota has a HUGE, shortage of doctors. After getting your DDS at a Canadian university, check out states that are in that realm. Hope this helps. If you want, you can email me @ [email protected].

pce,

bus.

 

[Frank Cavitation]

busupshot83,

thanks for the heads up. I'm only in 2nd year so graduation is still far away! I'm not sure I want to work in Minnesota as the winters won't be much better than Canada! I might also consider loitering in bars around Detroit and Buffalo in search for "citizenship facilitators" (aka marriage 🙂 )

 

[busupshot83]

Frank,

I'm a 2nd yearer too, so I understand. I would seriously recommend vying for a US school only because there are more to apply to; plus they accept Canadian DATs, but Canadian schools don't accept US Dats (except TO). This way, you can apply to both Canada and US, and both are accredited. Also, you should keep in mind that while most US schools have all the same entrance requirements (chem, bio, physics, organic), most of the Canadian schools are all different (requiring biochemistry and others). This may take you longer to complete the requirements for all the schools. Just a thought.

As for your "quest" in the bars, good luck. HAHAHA!

pce,

bus.

 

[Frank Cavitation]

busupshot83

heh oops I thought I was posting in the dental students forum. I'm actually in 2nd year of dental school following an undergrad degree. Honestly, when I was in 2nd year of undergrad I had no idea what I wanted to be. After failing to get in after 3 years I was thinking about applying to the U.S. but was driven away by the cost factor, and the fact that I did not know about SDN and had no idea which schools accepted canadians. 🙁

You're right to point out all the extra requirements canadian schools have. The ones in the west generally want English, and my own school requires biochem and physiology. Certainly not GPA builders for me 🙂

 

[busupshot83]

Frank,

I see, honest mistake. This interesting though; 3 years you tried to get in? That's determination! Can you tell me what school you finally got into and what your GPA was. I would like to know just for inspiration purposes...

Thanks,

bus.

 

[Frank Cavitation]

I applied to U of T and Western several times, and have only gotten interviews at UWO (I think they did not have interviews at U of T when I started)... was waitlisted too far back once, and the year when I got in, I was also waitlisted and had to wait until the middle of july before getting the good news. Over my 4 years I had an 83% avg which translated to 3.3 gpa because the grades were too polarized (high marks in easy courses and B- and C in hard ones). Luckily UWO looks at avg not gpa. I figure if I did not get into dents after graduating I probably would have hung on to my lousy job and waited another year and apply to the US.

 

[caninus]

Hey Hot-n-Aml,

i called CIBC again today. This time they told me that the school can be in the US!!!!! Strange?!?! Anyway, I pre-applied for a loan over the phone and the next step is to have someone call me for an interview in a branch close to my place. That should happen in 2-3 days. I'll keep you posted. Wish me luck!

 

[Hot-n-Aml]

Hi Caninus,

It is such good news that CIBC will support us in the US!

I have already applied for the CanHelp, but I'm thinking of also having the CIBC loan available just in case.

So keep in touch and let me know how things turn out.

😀

_________________________________________________
University of Pittsburgh, SDM, Class of 2007