Paying for Optometry School All On Your Own

[curious5321]

I was just wondering if there was anyone out there who has had to pay for optometry school totally on their own and by that I mean not even having co-signers for loans. If you have, how have you come up with the funds to do so because a lot of loans are limited when you don't have a co-signer so it is difficult to come up with enough money to finance the whole 4 years. Is it even possible to do (especially if you are Canadian)? All feedback is greatly appreciated.

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[xmattODx]

I was just wondering if there was anyone out there who has had to pay for optometry school totally on their own and by that I mean not even having co-signers for loans. If you have, how have you come up with the funds to do so because a lot of loans are limited when you don't have a co-signer so it is difficult to come up with enough money to finance the whole 4 years. Is it even possible to do (especially if you are Canadian)? All feedback is greatly appreciated.

I did. My parents helped by sending me some grocery money every month but I paid the tuition, housing, books etc.

I made it through on Alberta Student loans, Federal loans, CIBC professional student line of credit, and Can Help (all without co-signers). The only financial help I had aside from those loans was an insurance settlement that paid for a lot of my first year. (The only good thing that came out of getting hit by a car while in a crosswalk!) I don't know how many of the loan programs are still available (I was in OD school from 98-02). It is possible, look around. Good luck.

 

[curious5321]

xmattoDx,

how much loan money did Alberta give to you? In ontario we can't get the provincial part of OSAP only federal which is about $7000. What school did you attend? Was it one of the lower tuition schools?

 

[xmattODx]

xmattoDx,

how much loan money did Alberta give to you? In ontario we can't get the provincial part of OSAP only federal which is about $7000. What school did you attend? Was it one of the lower tuition schools?

Sorry I can't give you an exact amount but I maxed out Alberta loans (but since the province is so rich they forgave a large amount of it). I really don't remember how much (and I'm not able to look it up just now) but it wasn't a lot compared to the entire cost. (I maxed out all Canadian government loans during my second year.)

I went to Pacific which was expensive and is now more expensive.

 

[ML1983]

xmattoDx,

how much loan money did Alberta give to you? In ontario we can't get the provincial part of OSAP only federal which is about $7000. What school did you attend? Was it one of the lower tuition schools?

I'm curious about this too. A friend of mine went to BMO on a professional loan and only got $70,000 CDN with a co-signer. I guess you gotta put your house as collateral to get more, well it would make sense.

I heard canhelp sucks, but I guess if you have no choice thats the way to go? OSAP stinks.

 

[chrissystar]

RBC gives up to $150,000 for a professional student loan..

 

[curious5321]

RBC gives up to $150,000 for a professional student loan..

RBC gives up to $120,000 for optometry but you need a co-signer for that amount. $90,000 can be given without a co-signer, but that is still $ CDN and not even close to covering the $200,000 USD that it is probably gonna cost. If you know anything different from this, please post!

 

[Squint]

If you are getting a co-signer, it is best just for the parents to get a home equity loan and loan it to you. You get a lower interst rate and they are on the hook to re-pay regardless.

 

[carizma12]

Depends on your program though.

for optometry - i can get a $200,000 LOC with a cosignor

 

[Squint]

at what rate??

 

[curious5321]

Thanks for all the responses, but the thread is starting to divert to funding options with a co-signer and I was looking for input on funding without co-signers. Does anyone have any more info about the latter?