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- Oct 10, 2006
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Hey everyone...
I haven't seen a post regarding this on the vet message boards, but there are some similar ones lurking around SDN. Anyhow I just wanted to give those people (Canadians in Particular) a heads up about pursuing international schools at the moment.
Last semester when I was applying for Federal Loans, we were informed that the amount of banks (preferred) available to choose from to obtain our loans dropped from 4 to 2. Fast forward 4 months and we see the financial crisis that has hit the US lending market. As it stands right now, as a US citizen I can still get federal funding (probably anyhow.. we'll see what February brings!).
However, my Canadian friends received word that loans are mostly (if not entirely) unavailable to them. I know Canada offers small loans (bursaries?) but none of my friends are receiving the full cost of tuition + living and have been taking private loans from US companies--which have now stopped lending to pretty much everyone, especially without a co-signer.
Just a bit of a warning, I don't want to worry people about this more than they already are. I did want to make sure that people would be aware of an additional challenge in the vet school process as they are applying and be able to do appropriate research for alternatives before having to turn down a position in school because they were caught unaware.
This is part of the email we received from our Dean regarding the matter
I haven't seen a post regarding this on the vet message boards, but there are some similar ones lurking around SDN. Anyhow I just wanted to give those people (Canadians in Particular) a heads up about pursuing international schools at the moment.
Last semester when I was applying for Federal Loans, we were informed that the amount of banks (preferred) available to choose from to obtain our loans dropped from 4 to 2. Fast forward 4 months and we see the financial crisis that has hit the US lending market. As it stands right now, as a US citizen I can still get federal funding (probably anyhow.. we'll see what February brings!).
However, my Canadian friends received word that loans are mostly (if not entirely) unavailable to them. I know Canada offers small loans (bursaries?) but none of my friends are receiving the full cost of tuition + living and have been taking private loans from US companies--which have now stopped lending to pretty much everyone, especially without a co-signer.
Just a bit of a warning, I don't want to worry people about this more than they already are. I did want to make sure that people would be aware of an additional challenge in the vet school process as they are applying and be able to do appropriate research for alternatives before having to turn down a position in school because they were caught unaware.
This is part of the email we received from our Dean regarding the matter
...My understanding of the current situation is that changes to guarantors and lenders in the USA has given us greater confidence that students from the USA will continue to have access to both government and private loans.
The situation for students from Canada and other north american countries less clear and we are exploring all options to address this.
Please note that this week [we are] approaching the Canadian Embassy and I am seeking advice from Deans of other Australasian Veterinary Schools. We will be providing further advice as it comes available...