Is there a possibility? Please help!

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Pister

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Ever since last year of high school I was under the belief that if your parents can't manage to financially support your US education (I'm speaking as a Canadian), then you have zero chances to fund your education in the US.

And seeing how extremely cut-throat med school here in Canada is, I decided that it was an extremely big gamble that was not worth pursuing. Had US med school been an option that I could fall back into, I would have definitely continued undergrad as a science major.

I am now switching my major to nursing, but med school is something that I think about it every now and then. So lately I have been doing more research on US med schools, and I am very surprised at the admission stats for quite a few schools. The $ is the big issue for me.

So realistically speaking:

1) Will Canadian banks give a max of 250k loan to Canadians studying in US medical schools? A 250k loan is not enough, as I estimate I will need a bit over 500k. So can I get another loan of equal value (250k) from another major Canadian bank?

2) I have heard US banks are much more generous, as long as I have a co-signer in the US. Luckily my family knows someone who is making close to half a million a year. Are the US banks truly generous to Canadians studying med in the US?

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I realize I'm asking many questions, but I would greatly appreciate any input.
 
1. Med school in the US is also very competitive, doubly so if you are an international student.
2. Why on earth would you need over half a million to pay for med school? You won't have time to spend in the hot tub of your penthouse with all the studying there is.
3. I don't really know about taking loans from banks because all US students get federal loans, but refer to point 2-- I highly doubt a bank would give you a 500k loan for med school.
 
1) Will Canadian banks give a max of 250k loan to Canadians studying in US medical schools? A 250k loan is not enough, as I estimate I will need a bit over 500k. So can I get another loan of equal value (250k) from another major Canadian bank?

2) I have heard US banks are much more generous, as long as I have a co-signer in the US. Luckily my family knows someone who is making close to half a million a year. Are the US banks truly generous to Canadians studying med in the US?

Why do you need 500k? You are asking a forums where most of us are Americans and have no idea how the Canadian banks process loans.

I hope that someone your family knows in the States is really close, because cosigner will have to repay even in case of disability or death for private student loans (not for governmental ones, but you're ineligible) . Not to mention any other scenarios where you default on the loans. That's a tall order for anyone to cosign for you.
 
OP, realistically you'll need $70k at most x 4 years = $280,000 USD
 
I'm reading people's acceptances with anywhere between 3.3 and 3.7. In Canada I would consider that to not be as competitive, but again I don't want to start an argument or debate about this.

EDIT: Wow I never knew 500k was excess. I guess NYU is just extremely expensive since in their website it estimates tuition+living costs to be 110k a year.

Do most other medical schools fall into the 70-80k/year category? Does that figure include living costs as well?

Also, I got off the phone with RBC. I was told the most I can get is 150k since I'm studying abroad. I really hope I can at the same time get another 150k or so from another bank.
 
Oh sorry, I'm pretty sure I saw a six figure somewhere.

So is there is a GPA range of where a Canadian applicant would be considered competitive?
 
I'm reading people's acceptances with anywhere between 3.3 and 3.7. In Canada I would consider that to not be as competitive, but again I don't want to start an argument or debate about this.

EDIT: Wow I never knew 500k was excess. I guess NYU is just extremely expensive since in their website it estimates tuition+living costs to be 110k a year.

Do most other medical schools fall into the 70-80k/year category? Does that figure include living costs as well?

Also, I got off the phone with RBC. I was told the most I can get is 150k since I'm studying abroad. I really hope I can at the same time get another 150k or so from another bank.

Yes but people on the low end of the GPA spectrum tend to have a great MCAT, be URM or SES, or have great EC's and publications as well. The selection process is very holistic at many schools in the US, meaning they look at a lot more than just GPA/MCAT. In addition, an international applicant with a 3.3 would almost certainly be rejected from every school unless they were the first author on a publication they wrote while summiting Mt. Everest.

Basically what I'm trying to say is...it'll be just as hard for you to get into a US school because you're an international student. Add that to the whole private loan business you have to go into and it makes it even more difficult. That's not to say you shouldn't do it because if it's really your dream then you should, but be aware of all this before launching into a stressful year-long application cycle with no promise of something to show for it.

Also have you looked into/taken the MCAT yet?
 
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Oh sorry, I'm pretty sure I saw a six figure somewhere.

So is there is a GPA range of where a Canadian applicant would be considered competitive?
Canadian gpas go up to 5.0 or so I've heard.
 
Oh I'm just in first year. My GPA in my other degree which I stayed in for a year was between 3.6-3.7
 
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