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Increasing Loc Limit Before Residency?


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#1 medapp_2018

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Posted 05 February 2017 - 08:44 PM

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



#2 rmorelan

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Posted 05 February 2017 - 09:19 PM

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. 


Our knowledge has made us cynical.
Our cleverness, hard and unkind.
We think too much and feel too little.
More than machinery we need humanity.
More than cleverness we need kindness and gentleness.
Without these qualities, life will be violent and all will be lost.
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Schulich Medicine 2013, PGY4 - Ottawa for Radiology

 

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#3 NLengr

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Posted 06 February 2017 - 06:23 PM

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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