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Scholarships or Good Loan programs for Canadians in a US med school?

Discussion in 'Canada' started by ocean11, Apr 30, 2004.

  1. ocean11

    ocean11 Senior Member
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    Hi all...... I am going to the US next year for med school and as a Canadian resident I am not qualified for US Stafford loans or for FAFSA, does anyone know any good loan programs or scholarships for Canadians going to the US?

    Thanks in advance

    OCean11
     
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  3. skarim

    skarim Junior Member
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    CanHelp loans are available to canadian citizens. you can borrow up to $25,000 /yr on your own signature as med student. $45,000/yr with co-signer. plus some fees.
    rates, are okay, but high (prime + 1%, iirc) compared to fed ed loans. interest accrues while in school. 10-20 yr. repayment.
    www.iefc.com

    I borrowed $10,000 /yr for 1st 2 years of medical school. but then got better loan rates from my own school.

    see if your school will give you subsidized loans, go to external loans only as last option.
     
  4. Clue

    Clue Member
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    If you want to borrow in Canadian dollars. Royal bank gives a large line of credit to medical students.
     
  5. Lara

    Lara Senior Member
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    I seem to remember asking about that Royal Bank line of credit two years ago and it not being accepted for US schools. But you could likely get a "regular" line of credit, especially with a cosigner.

    Best of luck - I'm afraid I can't help here since I was fortunate enough to qualify for the Stafford loans as a dual citizen.
     
  6. Clue

    Clue Member
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    Actually I did get a Royalbank line of credit as a US medical student (without a co-signer). Alot of the times it matters which banker you speak to.
     
  7. moo

    moo 1K Member
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    I got bank loans from TD. You could try CanHelp, but I hear that's a rip off. If you are from BC, you also qualify for some government loans. I got about 6000CAD from them. Doesn't help that much but it's enough for my living expenses. BTW, what school are you going to?
     
  8. Hi There

    Hi There Junior Member
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    Hey moo,

    How do you find out more about provincial loans like this? Also, does the federal government offer any loans? Are there any bursaries?

    What would be the advantage of borrowing from CanHelp over a big bank like TD? Thanks.
     
  9. Hi There

    Hi There Junior Member
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    Oh, and if you are establishing an escrow account in a US bank, would it be better to get loans from a US or Canadian bank? Is there any difference?
     

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