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medapp_2018

Increasing Loc Limit Before Residency?

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Has anyone had any success increasing their LOC from 275k to over 300k before starting residency?

 

Cannot say I have heard too much of that. I have heard of it close to the end with some form of employment proof arranged for immediately post. 

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At the end if residency (PGY-5) with proof of future employment (aka a letter of offer) Scotiabank will set up a transition to practice LOC for you. It's not exactly the same as the student LOC as it stays open when you are in practice (the student LOC converts to a loan that you pay off over the years). Usually the transition LOC is set up so the limit is the value of 2-3 months of your expected salary.

 

I have never heard of a bank going over 275k on the student LOC.

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