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Gazoo4242

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  1. No worries! I actually think awareness around the benefits of investing is a hugely important topic, so I'm glad you brought it up!
  2. Yep, I think we're saying pretty much the same thing actually, although I don't know that we can make that assumption about non-trads and their investment knowledge/experience. Lots of folks from all walks of life here. Very cool that you have a background/previous career in finance, though. I think a lot of this stuff can be really overwhelming for people who are unfamiliar so it's great that this forum has people who can help "decode"! Certainly if investing is something people are interested in doing with their cash it could be a smart move! In any case, my main point was not to paint Sc
  3. Yup, the interest compounds if it's being charged to the LOC. That's pretty typical of most kinds of loans, but I agree they could be more clear about this upfront. It's the same at all of the big banks. The only real difference is that Scotiabank "pays" the interest automatically, but other banks effectively work the same way, you just have to pay the interest yourself. In most cases, you'll make that payment using LOC funds, because if you have cash outside the LOC to pay the interest you're better off using that cash up front for tuition/living expenses before dipping into the LOC at all.
  4. I'm not exactly sure what you mean, but no you wouldn't get a bill for all of the interest at once at some point if that's what you mean. Interest accumulates on top of whatever you've borrowed from the LOC. Once you need to start making payments based on the terms of your LOC, you can make minimum payments or more depending on how much you can afford to throw at the loan/what your financial strategy is. Sometimes physicians choose to pay it off over a longer period to keep more money in their corporation. This strategy makes sense if you're able to organize it such that your investments are g
  5. Interest still accumulates, you just don't have to make payments - it amounts to the same thing, just a hair more convenient
  6. I have been speaking to a Scotia rep recommended by a poster here, and he said: "There is an application form that you would need to complete along with that you’ll need to provide us with Proof of acceptance. For the application the proof of acceptance is sufficient. To finally fund, we would need a confirmation of you accepting your acceptance letter with the invoice of the deposit paid. We understand that you will not have your confirmation of enrollment, till your school year starts and it takes time for you to request for one and obtain it." It's possible that wouldn't apply to other
  7. I have a bunch of questions about this process! 1) Is it recommended to use a financial advisor in the city of your medical school, or does it matter? 2) Is there any reason to wait to secure the LOC until closer to the start of term? 3) Are there particular advisors that people would recommend (I'm looking mostly at Scotia) in Toronto or Kingston?
  8. The easiest way seems to be setting up Queen's University as a payee in online banking with your student # as the account # and doing it that way!
  9. Yes what was the deal with the buttons? I've seen talk about the buttons in past threads, but couldn't really decipher what the button actually was! Was it an accept/reject offer button or what?
  10. Same boat over here. I keep doing cool accurate counting things like "well this week doesn't count cause I'm in it, and the week acceptances come out also doesn't count cause that's the week I'm waiting for. Ergo, we only have to wait 4 weeks"
  11. I swear this was on the website in the method of selection steps, but I can't find it now either! I'll keep poking around
  12. I am only an applicant, so take this with a grain of salt, but my understanding is that they score each aspect of the applications at full file review pre-MMI (so a score for ABS, a score for LOR etc) and then use those component scores throughout the process to rank people, re-weighting the scores at each step according to their undisclosed internal weighting schemes for each stage rather than going back and re-scoring everyone's ABS every time. If I'm correct, whatever your ABS score is would already account for those typos if they decided those were an issue, so if you got an interview they
  13. I love seeing stories like these - our situations have some similarities. I got a panel this morning too! Let me know if you're looking for people to prep with
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