Refreshments Posted April 14, 2018 Report Share Posted April 14, 2018 Any information/suggestions on how to go about getting a professional line of credit once accepted, which banks are best, and when you are able to get it? Link to comment Share on other sites More sharing options...
Eudaimonia Posted April 14, 2018 Report Share Posted April 14, 2018 There are lots of threads regarding locs that you can search for in this forum (some in the medical students topic), but generally, you'll want to speak to advisors that deal with locs for medical students at a couple banks and explore their options (they're similar). Most people go with Scotia or RBC, and I think you just need proof of acceptance at most places (some will want proof of enrollment) Link to comment Share on other sites More sharing options...
PulsusParadoxus Posted April 15, 2018 Report Share Posted April 15, 2018 You need proof of acceptance in order to start the application process, but you need proof of enrolment (which you can get only after you register for courses) to get access to your Line of Credit. You can get some of the perks before you get access to you LOC. I agree 100% with @Eudaimonia, you absolutely want to deal with somebody who knows the ins and outs of the professional LOC programs, it can be a headache if not. Usually the person to contact for Scotia or RBC are listed on their website somewhere. Link to comment Share on other sites More sharing options...
Rekabnire Posted April 16, 2018 Report Share Posted April 16, 2018 I've been looking around, and what I've found is that if you go into a bank with what the others are offering, they'll match it. They're all open to negotiation, so you can't really go by the offer itself. I'm with BMO and they typically can't compete with the other banks for the medical student LOC, but I showed the guy RBC's website, and they matched it all (I ended up getting approved for Prime - 0.25%). They also gave me access to the funds with JUST an acceptance letter as an added perk. Link to comment Share on other sites More sharing options...
Senior RD Posted April 27, 2018 Report Share Posted April 27, 2018 Hi .. how much $ in total is available with that good rate? Link to comment Share on other sites More sharing options...
Eudaimonia Posted April 27, 2018 Report Share Posted April 27, 2018 3 minutes ago, Senior RD said: Hi .. how much $ in total is available with that good rate? Currently banks are giving $275k Link to comment Share on other sites More sharing options...
Senior RD Posted April 27, 2018 Report Share Posted April 27, 2018 Thank you! I wasn’t sure if this amount was for any student or only those with higher tuitions in other universities. Link to comment Share on other sites More sharing options...
Refreshments Posted May 16, 2018 Author Report Share Posted May 16, 2018 . Link to comment Share on other sites More sharing options...
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