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Line of Credit (LOC) for Australian Dental School

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Hi everyone,

I am looking to obtain a Line of Credit (LOC) to help pay for my dental school studies in Australia. While many Canadian banks are eager to extend a generous LOC for those studying dentistry at a Canadian dental school, I'm having difficulty finding a bank willing to extend a LOC while studying at an Australian dental school.

Does anyone know of any banks that might be more keen to offer a LOC in this situation? Any recommendations to a specific branch or financing specialist would also be appreciated.

CIBC looks like it offers a LOC to students studyign abroad, and a few posts I've come across have similarly mentioned CIBC...

Thanks so much!

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  • 3 months later...

I recently talked to someone from CIBC and they quoted me 300k at prime+1%. They will have to see that there are funds to pay for the remaining expenses not covered by the LOC, and a co-signer is needed. Do note that I asked this for US dental schools. Not sure if it is the same for Australian schools. 

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  • 1 year later...
On 12/10/2020 at 12:20 PM, DentalProspect said:

Attaining a co-signer is only half the battle. Banks analyze a co-signers TDSR (total debt service ratio). My father and our physician co-signer application was refused. A TDSR of 40% is the sweet-spot to get approved. Check out this link: https://www.richardsmortgagegroup.ca/more-about-income



That sounds unusual..

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  • 2 weeks later...

A few banks in Australia offer lines of credit for dental school studies. However, the interest rates and terms can vary, so it's best to compare a few options before deciding on one. ANZ, NAB, and Westpac are all central banks that offer lines of credit for dental school students in Australia. You can find more information on their websites or by speaking to a representative in-branch. Other smaller banks or credit unions may also offer lines of credit for dental school students, so it's worth researching to find the best option for you. Whichever bank you choose, ensure you understand the interest rates and repayment terms before signing up for a line of credit. This way will help you to avoid any financial difficulties down the road.


Hawaii Family Dental - Ewa Beach

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  • 4 weeks later...

It is possible to find a financial institution that will provide you with a Line of Credit (LOC) for studying dentistry in Australia. However, it may require some extra work to locate an institution willing and able to offer such a service.

One way to find out if any Canadian banks offer this kind of LOC is to research online and contact banks directly. You can also look into the loan options. For example, Australian banks offer, as they may be more willing to provide LOCs for international students like yourself. Additionally, you can speak with financial advisors who will better understand what lenders are available in your area and what kind of credit lines they offer.


Chris Ross @ Kapolei

Kidshine Pediatric Dental Group

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