canhelp student loan

[ariel winter]

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does anyone know where to find out when the deadline is to apply for the canhelp student loan? 🙂 thanks!

 

[jehu]

Hey,
I dont know if there really is a deadline...I applied when I accumulated all the relevant information for my application form and I sent it off. But do give yourself as much time as possible and keep calling them because otherwise they'll take forever. You will receive conformation end of June or sometime in July I believe. I think I applied for it in Feb or March.

does anyone know where to find out when the deadline is to apply for the canhelp student loan? 🙂 thanks!

 

[ariel winter]

thank you. 👍

Hey,
I dont know if there really is a deadline...I applied when I accumulated all the relevant information for my application form and I sent it off. But do give yourself as much time as possible and keep calling them because otherwise they'll take forever. You will receive conformation end of June or sometime in July I believe. I think I applied for it in Feb or March.

 

[IceNine]

Yeah... you might want to reconsider that CanHELP loan. I talked to one of the residence coordinators at ICO, who happened to be Canadian and applied for that loan. She told me there is a lot of fine print, reading between the lines, and in the end you'll be paying a lot more than you think your paying for. She stopped using the CanHELP loan after first year, and says the majority of canadian students end up using other means, such as a line of credit with RBC. I wish I could remember what she said exactly, 'cuz there were very specific faults with the CanHELP loan, that you probably won't realize until AFTER you've signed up. Anyways, it was a horrific enough experience for me to take it out of my list of options. Perhaps you should investigate a bit more...post another thread!

* Beware of the man who works hard to learn something, learns it, and finds himself no wiser than before, he is full of murderous resentment of people who are ignorant without having come by their ignorance the hard way. ~Vonnegut

 

[ariel winter]

hmmm, thanks for the insight. i will definitely investigate further and educate myself further in regards to this issue. i will keep you guys updated. 🙂

Yeah... you might want to reconsider that CanHELP loan. I talked to one of the residence coordinators at ICO, who happened to be Canadian and applied for that loan. She told me there is a lot of fine print, reading between the lines, and in the end you'll be paying a lot more than you think your paying for. She stopped using the CanHELP loan after first year, and says the majority of canadian students end up using other means, such as a line of credit with RBC. I wish I could remember what she said exactly, 'cuz there were very specific faults with the CanHELP loan, that you probably won't realize until AFTER you've signed up. Anyways, it was a horrific enough experience for me to take it out of my list of options. Perhaps you should investigate a bit more...post another thread!

* Beware of the man who works hard to learn something, learns it, and finds himself no wiser than before, he is full of murderous resentment of people who are ignorant without having come by their ignorance the hard way. ~Vonnegut

 

[jefguth]

If at all possible, avoid CanHELP...they have way too many service fees (disbursement fees, etc.) and from what i remember when i looked into it, the interest rate is quite abit higher than loans from any other source.

I would suggest either looking at the lines of credit or if your family has equity in their home and willing to help help, a home equity loan.

 

[jehu]

Yes yes, very true. I have taken the CanHelp loans...about 45 grand worth actually. The interest is prime plus 2...which is really not that bad, especially when youre someone like me and has no other way to do this. Now BMO will give you 20 grand CDN per year line of credit...RBC and any other bank wont give you a penny because youre going to an institution thats not in Canada...at least that's what they all told me. CanHelp is not thaaaaat bad if you really have no options. Im not using the bank of mom and dad at all...so for me it works out. As well, the fees they charged me was basically 1 grand...so i requested 45 grand and they gave me 44...so thats how they take out the fee. I did read the fine print and I would suggest you to as well so you know what you're getting yourself into.
By the way, with canhelp, you pay the interest while youre in school
take care and good luck

If at all possible, avoid CanHELP...they have way too many service fees (disbursement fees, etc.) and from what i remember when i looked into it, the interest rate is quite abit higher than loans from any other source.

I would suggest either looking at the lines of credit or if your family has equity in their home and willing to help help, a home equity loan.

 

[jehu]

oh by the way, sorry but the RBC and other banks are more regulated provincially....i know that alberta doesnt back banks where as ontario does...so if youre from ontario check that out. i know some ppl who got their loans from banks where as i couldnt with the same banks because my province doesnt back them.
one advantage of canhelp though is that you get your money in american dollars...so you dont lose on the conversion...take everything into account before you make your decisions....
plan early and read the fine print!!

Yes yes, very true. I have taken the CanHelp loans...about 45 grand worth actually. The interest is prime plus 2...which is really not that bad, especially when youre someone like me and has no other way to do this. Now BMO will give you 20 grand CDN per year line of credit...RBC and any other bank wont give you a penny because youre going to an institution thats not in Canada...at least that's what they all told me. CanHelp is not thaaaaat bad if you really have no options. Im not using the bank of mom and dad at all...so for me it works out. As well, the fees they charged me was basically 1 grand...so i requested 45 grand and they gave me 44...so thats how they take out the fee. I did read the fine print and I would suggest you to as well so you know what you're getting yourself into.
By the way, with canhelp, you pay the interest while youre in school
take care and good luck

 

[Canadian26]

I just got an the application and things sent to me last week... I have family thats going to school abroad as well, and most of them have reccomended getting a line of credit. RBC is the best one for optometry students I found out that we can get approved for 150 000, and you can also get a second credit line from TD if you need it. Im not sure if your from Alberta, but I do remember you saying you went to the U oF A. Im pretty sure from what i understand that ifyour going out of province you qualifiy for alberta student loans as well.

 

[pre_opt_sku]

I just got an the application and things sent to me last week... I have family thats going to school abroad as well, and most of them have reccomended getting a line of credit. RBC is the best one for optometry students I found out that we can get approved for 150 000, and you can also get a second credit line from TD if you need it. Im not sure if your from Alberta, but I do remember you saying you went to the U oF A. Im pretty sure from what i understand that ifyour going out of province you qualifiy for alberta student loans as well.

duplicate post..

 

[pre_opt_sku]

I just got an the application and things sent to me last week... I have family thats going to school abroad as well, and most of them have reccomended getting a line of credit. RBC is the best one for optometry students I found out that we can get approved for 150 000, and you can also get a second credit line from TD if you need it. Im not sure if your from Alberta, but I do remember you saying you went to the U oF A. Im pretty sure from what i understand that ifyour going out of province you qualifiy for alberta student loans as well.

Maybe it varies from province to province, but RBC told me the max for optometry students is $120 000 and you have to be going to school in Canada.

 

[ariel winter]

i believe it does. i'll have to check that though.

Maybe it varies from province to province.

 

[jehu]

yea i was denied because i wasnt going to school in canada...im from calgary, AB..
i know that ontario ppl will get the line of credit...

i believe it does. i'll have to check that though.