Loans for Canadian/International Students

[coramDeo]

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Hello,

I'm a Canadian student who'll be matriculating this fall. I've been searching for loan options in the U.S. for Canadian students, but I couldn't really get a clear idea of which would be the best foot forward.

Could any current/former international/Canadian students share their experiences? Thank you so much!

 

[Mr.Smile12]

Mods: please move to Canada .

 

[s5260205]

Are you referring to studying medicine in US as a Canadian student? If that's the case, look into professional student line of credit through Canadian banks.

 

[coramDeo]

Are you referring to studying medicine in US as a Canadian student? If that's the case, look into professional student line of credit through Canadian banks.

Yes, I will be matriculating at an American MD school this fall. With the currency rate, I was wondering if it'd be better to find a loan down south... Would you say the best foot forward is just to get a loan through a Canadian bank?

 

[s5260205]

Yes, I will be matriculating at an American MD school this fall. With the currency rate, I was wondering if it'd be better to find a loan down south... Would you say the best foot forward is just to get a loan through a Canadian bank?

I don't know if it's possible to secure American loan as a Canadian without someone with American credit history to serve as a co-signer.

 

[coramDeo]

I have a credit history in the U.S., as I've been working here for a while. Would I still be ineligible for bank loans?

 

[smacdiablo]

I have a credit history in the U.S., as I've been working here for a while. Would I still be ineligible for bank loans?

You generally need to be a permanent resident or US citizen to get loans down in the US unless you have a co-signer. Even still, the interest rates are more favorable in Canada. Also note - it may be challenging to get Canadian loans if you are not currently living in Canada, but not impossible.

 

[TopNepNep]

Hello,

I'm a Canadian student who'll be matriculating this fall. I've been searching for loan options in the U.S. for Canadian students, but I couldn't really get a clear idea of which would be the best foot forward.

Could any current/former international/Canadian students share their experiences? Thank you so much!

Securing a LOC for Australian Medical School?

I am looking into this a little bit earlier as I dont have an acceptance yet but want to be prepared for the following reasons: I am told that you will need to pay a large deposit relatively quickly if you get an acceptance. Unsure if my parents are eligible to be a co-signer, may need to look fo...

forums.premed101.com

For Canadian banks, we did discussed on premed101 what Canadian banks will give to international medical students. I will quote what was said about the big 5 Canadian banks (in CAD):

"RBC: $150K max | prime + 1.75% | w/ cosigner
TD: $325 max | prime - 0.25% | w/ cosigner that has a "significant relationship" with TD already
Scotia: $350 max | prime - 0.25% | w/ cosigner that has "significant relationship" with Scotiabank already
BMO: $325 max | prime - 0.25% | w/ cosigner
CIBC: $300 max | prime - 0.25% (I think not confirmed) | w/ cosigner"

I am not sure about the American banks though.