Westerngirl4 Posted June 2, 2014 Report Share Posted June 2, 2014 Has anyone been able to get a LOC without confirmation of enrolment? I asked U of T for proof and they said they don't provide it until August, but how are we supposed to get an apartment and pay for other things before then since OSAP isn't until much later? Link to comment Share on other sites More sharing options...
ArchEnemy Posted June 2, 2014 Report Share Posted June 2, 2014 Has anyone been able to get a LOC without confirmation of enrolment? I asked U of T for proof and they said they don't provide it until August, but how are we supposed to get an apartment and pay for other things before then since OSAP isn't until much later? I got mine before I received the confirmation of enrollment at the TD Branch at University Ave and Dundas Street last year. All I had to bring in was the letter of acceptance, and Jennifer Scott did everything else. Link to comment Share on other sites More sharing options...
Leon Posted June 3, 2014 Report Share Posted June 3, 2014 I personally struggled with this last year. The university does not provide confirmation of enrollment until August and very very few banks are willing to give you the LOC until then. I went with Scotiobank in Hamilton (the only branch willing to do it). So your best bet is to call around and see who's gonna do it. I spent hours on the phone trying to find the various branches. It's unfortunate that the school expects you to be well off enough to afford major expenses prior to starting school. I asked them many times and they refused to offer the letter so your best bet is to find a lenient bank or wait until August. Link to comment Share on other sites More sharing options...
amichel Posted June 3, 2014 Report Share Posted June 3, 2014 I understand that last year U of T was a little surprised by the bank's stricter requirements, but preventing students from accessing an LOC early when they had advanced warning seems unnecessarily difficult of them. Hope you guys get it figured out! Link to comment Share on other sites More sharing options...
Leon Posted June 3, 2014 Report Share Posted June 3, 2014 I've talked to them repeatedly about this and their argument was that you are not officially enrolled until August (which is when OSAP grants its deferral etc which are necessary parts of registration) and they can't offer proof of enrollment until that is done. It's kinda ridiculous but oh well. Link to comment Share on other sites More sharing options...
amichel Posted June 3, 2014 Report Share Posted June 3, 2014 I've talked to them repeatedly about this and their argument was that you are not officially enrolled until August (which is when OSAP grants its deferral etc which are necessary parts of registration) and they can't offer proof of enrollment until that is done. It's kinda ridiculous but oh well. The banks in Calgary also asked for proof of enrollement, which we also can't get till just before classes, but Calgary just provided us with a letter confirming acceptance and expected start date. None of the banks had a problem with it. Not sure why other schools couldn't do the same. Link to comment Share on other sites More sharing options...
mononoke Posted June 4, 2014 Report Share Posted June 4, 2014 I went to TD and they didn't ask for a proof of enrollment, just acceptance letter Link to comment Share on other sites More sharing options...
nino Posted June 7, 2014 Report Share Posted June 7, 2014 I went with a Scotia bank in downtown Toronto and they didn't ask me for proof of enrollment. The acceptance letter was all they asked from me. Link to comment Share on other sites More sharing options...
Leon Posted June 7, 2014 Report Share Posted June 7, 2014 I went with a Scotia bank in downtown Toronto and they didn't ask me for proof of enrollment. The acceptance letter was all they asked from me. wow are you serious? I had a nightmare of a time with those guys! Link to comment Share on other sites More sharing options...
rmorelan Posted June 7, 2014 Report Share Posted June 7, 2014 wow are you serious? I had a nightmare of a time with those guys! you weren't the only one. Change in policy or just someone that doesn't fully know the rules? The reason for the issues in general is that someone got a letter of acceptance in the past, simply withdrew the 250K and left the country (according to some bank representatives I have met with in the past). As you can imagine that is quite the loss - not a lot of margin on these loans really. Made the banks more careful. Link to comment Share on other sites More sharing options...
gojetsgo Posted June 7, 2014 Report Share Posted June 7, 2014 Yeah, my RBC LOC is sent off for approval now with just an acceptance letter. Link to comment Share on other sites More sharing options...
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