For Canadians - exchange rate

[malik60]

Advertisement - Members don't see this ad

Hey everyone, I apologize if im in the wrong section , but I was looking up the tuitions for D.O schools and how much canadian banks give for loans (275k). What i was wondering is what if exchange rate keeps getting worse for canadians (0.59 usd - 1 cad for example) , that would mean the tuition could go upto 500k in cad. That would make it impossible for people like me to apply to us D.O. Im very much worried about this and would appreciate any input. Thank you.

 

[Wjldenver]

Hey everyone, I apologize if im in the wrong section , but I was looking up the tuitions for D.O schools and how much canadian banks give for loans (275k). What i was wondering is what if exchange rate keeps getting worse for canadians (0.59 usd - 1 cad for example) , that would mean the tuition could go upto 500k in cad. That would make it impossible for people like me to apply to us D.O. Im very much worried about this and would appreciate any input. Thank you.

I don't think foreign exchange (FX) rates USD:CAD are going to get as bad as you think. However, a simple solution is to borrow as much as you can upfront from a Canadian bank and then open a US bank account dominated in dollars. That should minimize any currency risk for the four years you are in a US Med school.