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themeister

What is the Best Bank for Dental School Loans in Ontario?

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I'm starting soon and I'd like to know where I should get my loan from. Moreover, what is the best interest rate that there is? Is there an advantage with going for one bank over another?

I'm planning to go from one bank to another but I think it'd be smart to know what I should expect from them before I go.

Also, does OSAP provide loans to dental students too? Are there any options other than banks? Maybe through the government?

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The interest rate regardless of what bank you chose will be the same. The best two banks to go with are RBC and Scotiabank. I'd say scotia is slightly better in terms of what they offer. 

OSAP does provide loans, but not a lot. OSAP and private lenders (ie. banks) are your only options. The LOC is more than sufficient to pay for your dental education.

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On 8/15/2020 at 3:48 PM, themeister said:

I'm starting soon and I'd like to know where I should get my loan from. Moreover, what is the best interest rate that there is? Is there an advantage with going for one bank over another?

I'm planning to go from one bank to another but I think it'd be smart to know what I should expect from them before I go.

Also, does OSAP provide loans to dental students too? Are there any options other than banks? Maybe through the government?

The interest rates are all the same with the big banks on their professional student plans. Typically, the incentive from one bank to another is the loan cap (when I applied they offered different amounts). The big 4 offer different perks with their plans as well (unique credit cards, gift cards stuff like that) so just shop around and see what you like. You can also switch your LOC from bank to bank as you wish if you decided you don’t like or like something more from another bank. 
 

Yes, OSAP does provide loans for dental school. Depending on your situation some of the money could be in grants as well. OSAP doesn’t offer a lot but it is still smarter to have that money sit interest free while in school***(keep in mind OSAP interest starts ticking as soon as you graduate). As far as I know there aren’t many more options out there. Newfoundland offers a scholarship in exchange for working in Newfoundland post graduation but I don’t know much about it. 

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