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How To Pay Interest At Nova?

Discussion in 'Optometry' started by fonziefonz, Mar 13, 2007.

  1. fonziefonz

    7+ Year Member

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    Since Nova's program is practically year round, there is almost no time to hold down a decent summer job. I was wondering how am I supposed to make all these monthly interest payments on my loans if I can't work for 4 years? :confused:
     
  2. swiftiii

    swiftiii Member
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    Your loan payments are deferred while you are in school. Interest accumulates, but it's going to be "that way" whenever you have to take out a loan :(

    BTW, You CAN have a job. I know people that do it! And the summer schedule is not intense. I definitely plan on getting a job...I just have to look for one ;)

    Something I wish I had know too. You can be an RA. It's a fantastic way to save money!!! Yes, it requires some work, but there are people in my class that are and they are doing just fine....

     
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  3. OP
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    fonziefonz

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    I'm a Canadian student so I can't get any of these interest free until you graduate loans. I'm taking a student line of credit from RBC with monthly interest payments I believe. So I don't know how I am going to manage. Any ideas?
     
  4. carizma12

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    im in the exact same situation - how are we supposed to pay for the interest?
     
  5. carizma12

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    fonz - have you already made your final deposit to NOVA? At RBC, don't they want proof that you have been enrolled? Has NOVA sent you all that information already?

    I've only made my first deposit so I'm not sure..
     
  6. jefguth

    jefguth Senior Member
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    Pay the monthy interest from the line of credit, its the same as having a defferred payment, it just compounds!

    But before any of you actually take the plunge, might I suggest you all do a projection to estimate what your monthy payments will be like each year, and to see just how much debt you will have after the interest by the time you graduate. Better to know what you're getting into before the bank comes knocking in 2011. ;)
     

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