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2018 UofT Dent accepted/waitlisted/rejected

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Hi All, 

I got an offer for UofT dentistry. I was wondering if anyone here knows if its possible to get an extension for the March 16th deposit? If I don't have the 2000$ deposit at the moment, would they make an exception to the deadline? 

Thanks! 

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18 minutes ago, fz90 said:

Hi All, 

I got an offer for UofT dentistry. I was wondering if anyone here knows if its possible to get an extension for the March 16th deposit? If I don't have the 2000$ deposit at the moment, would they make an exception to the deadline? 

Thanks! 

I would call the their admissions office ASAP and ask.

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4 hours ago, fz90 said:

Hi All, 

I got an offer for UofT dentistry. I was wondering if anyone here knows if its possible to get an extension for the March 16th deposit? If I don't have the 2000$ deposit at the moment, would they make an exception to the deadline? 

Thanks! 

I would say there is zero chance. They would not buy it because you can go to any bank with your offer and have a line of credit opened the next day pretty much, they would think you’re just trying to wait until other offers come out. 

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3 hours ago, DDSER said:

I would say there is zero chance. They would not buy it because you can go to any bank with your offer and have a line of credit opened the next day pretty much, they would think you’re just trying to wait until other offers come out. 

You can open a line of credit but you wont get any money from it until you get your proof of enrollment ... which is given after you start school. This is the policy for both RBC and scotia so most likely other banks are like this too. Unless you know of a bank that gives you 250K with just a letter of acceptance. 

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1 hour ago, topomax said:

You can open a line of credit but you wont get any money from it until you get your proof of enrollment ... which is given after you start school. This is the policy for both RBC and scotia so most likely other banks are like this too. Unless you know of a bank that gives you 250K with just a letter of acceptance. 

Is this true? How am I supposed to travel the world this summer then????

Guys! Any tips??

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9 hours ago, topomax said:

You can open a line of credit but you wont get any money from it until you get your proof of enrollment ... which is given after you start school. This is the policy for both RBC and scotia so most likely other banks are like this too. Unless you know of a bank that gives you 250K with just a letter of acceptance. 

Dunno why your process worked out that way, but thats not what I experienced with Scotia. 

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1 hour ago, DDSER said:

Dunno why your process worked out that way, but thats not what I experienced with Scotia. 

Oh really ?? Ya I needed money to pay the deposit too but they still wouldn't give me the loan. Maybe its different for different branches and the person that you talk to. 

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10 hours ago, topomax said:

You can open a line of credit but you wont get any money from it until you get your proof of enrollment ... which is given after you start school. This is the policy for both RBC and scotia so most likely other banks are like this too. Unless you know of a bank that gives you 250K with just a letter of acceptance. 

My experience is consistently with yours topomax. The bank won't release any funds until they have received the proof of enrolment. 

 

18 hours ago, fz90 said:

Hi All, 

I got an offer for UofT dentistry. I was wondering if anyone here knows if its possible to get an extension for the March 16th deposit? If I don't have the 2000$ deposit at the moment, would they make an exception to the deadline? 

Thanks! 

I would call the admissions office to see if you can agree on a more affordable amount for the time being or pay them in tranches due to financial issues - for example, $1K by the deadline, and another $1K three weeks after. Worse comes to worst, talk to your bank and see if you can open a generic line of credit - that shouldn't be a problem then you can roll that LOC into your professional LOC afterwards. The interest rate won't be as attractive as the professional LOC for the time being, but once you roll it into your professional LOC once you get that proof of enrolment, it will be fine.

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1 hour ago, DDSER said:

Dunno why your process worked out that way, but thats not what I experienced with Scotia. 

I know with RBC, the acceptance letter is not enough. I went to the bank to talk about opening my LOC and this is what my advisor said. RBC says that the proof they need is an invoice or payment receipt for tuition, proof of enrollment from the registrar's office, or a course schedule. I'm thinking what you can do @fz90 is to call the registrar and see if you can get the letter from them earlier. It's the only thing I can think of. You've come this far! Your finances should not be holding you back and I really hope the dentistry office understands!

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4 minutes ago, DentalDayum said:

I know with RBC, the acceptance letter is not enough. I went to the bank to talk about opening my LOC and this is what my advisor said. RBC says that the proof they need is an invoice or payment receipt for tuition, proof of enrollment from the registrar's office, or a course schedule. I'm thinking what you can do @fz90 is to call the registrar and see if you can get the letter from them earlier. It's the only thing I can think of. You've come this far! Your finances should not be holding you back and I really hope the dentistry office understands!

Unlikely. The registrar would not issue said letter until the full amount of the tuition for the first term has been paid. It is too early in the game for any registrar's office to issue a letter of enrolment for Fall 2018.

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6 minutes ago, la marzocco said:

 

Unlikely. The registrar would not issue said letter until the full amount of the tuition for the first term has been paid. It is too early in the game for any registrar's office to issue a letter of enrolment for Fall 2018.

:( best of luck then

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I was in the same problem because I was tight on money. I got approved at scotia for the LOC already but they still need to see proof of enrolment before I get money. I called admissions to see what I could use to prove that and the lady told me to wait for the package sent out in early june. I paid the march 16 deposit with credit and Im really hoping on getting that LOC by June. I had no idea we needed to start classes before we get the money :( 

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40 minutes ago, Pre-Dent1234 said:

I was in the same problem because I was tight on money. I got approved at scotia for the LOC already but they still need to see proof of enrolment before I get money. I called admissions to see what I could use to prove that and the lady told me to wait for the package sent out in early june. I paid the march 16 deposit with credit and Im really hoping on getting that LOC by June. I had no idea we needed to start classes before we get the money :( 

Just a word of caution. If you reasonably cannot foresee yourself paying the $2K that you have just payed using your credit card, make sure you have an out. What I mean is that the interest charged on CC are in the double digits and it doesn't make sense if you end up with a credit bill and aren't able to open that LOC in time. I would see if you can get a generic LOC first. As I mentioned, then roll your generic LOC into your professional LOC. At the moment, you might be tight in terms of lining up the cash flows, so strongly consider paying off your credit card using that generic LOC first and avoid the hefty interest rates on your CC. Just a word of caution for those thinking about doing the same.

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58 minutes ago, la marzocco said:

Just a word of caution. If you reasonably cannot foresee yourself paying the $2K that you have just payed using your credit card, make sure you have an out. What I mean is that the interest charged on CC are in the double digits and it doesn't make sense if you end up with a credit bill and aren't able to open that LOC in time. I would see if you can get a generic LOC first. As I mentioned, then roll your generic LOC into your professional LOC. At the moment, you might be tight in terms of lining up the cash flows, so strongly consider paying off your credit card using that generic LOC first and avoid the hefty interest rates on your CC. Just a word of caution for those thinking about doing the same.

My situation is just really weird, I don't have my parents support so I had no cosigner for just a general Line of Credit. Thats why I did a credit payment, but I know full well about the high interest rates and I have backup plans for it. However you are right and anyone else should think about a general LOC first and not credit if you have a cosigner. I'm sure that the professional school LOC is available before classes start since the first instalment of tuition is due at the end of august and theres no way we're all expected to pay that without a LOC 

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On 3/6/2018 at 10:48 PM, topomax said:

You can open a line of credit but you wont get any money from it until you get your proof of enrollment ... which is given after you start school. This is the policy for both RBC and scotia so most likely other banks are like this too. Unless you know of a bank that gives you 250K with just a letter of acceptance. 

I got the money just from the letter of acceptance too from Scotia in May last year. Either they changed their policies or it depends on the branch. You should mention that other branches do this and have them look into it, or contact the designated advisor that does dent LOCs and ask them about it.

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Pay the $2000 any way you can. Even if you go about it the least financially responsible way (ie. credit card) several months of high interest on it will be a drop in the bucket in the long-run. Just make it happen. Fussing over $2000 might seem like a big deal now, but it will not in the future.

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4 hours ago, cleanup said:

Pay the $2000 any way you can. Even if you go about it the least financially responsible way (ie. credit card) several months of high interest on it will be a drop in the bucket in the long-run. Just make it happen. Fussing over $2000 might seem like a big deal now, but it will not in the future.

agreed, if you cant get a LOC just use a credit card for now and pay the balance on the card when you have all the documents you need to get a LOC. It would suck to lose your spot and all the work you've put in over something small like this. 

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