dent445 Posted August 3, 2022 Report Share Posted August 3, 2022 What bank offers the best perks for dental school student line of credit currently? Wondering if Scotia and RBC are still the best options Quote Link to comment Share on other sites More sharing options...
Zaandrei. Posted August 5, 2022 Report Share Posted August 5, 2022 I was with RBC; moved to Scotia due to their slightly lower rate that RBC didn't want to match initially. I wish I didn't. Since then, RBC has matched the prime -0.25%. I'm going to be moving back to RBC as a practicing dentist - so much more professional and timely. I don't like wasting my time on the phone - Scotiabank seems to. They were great in school, I had an amazing advisor; but out of school? They dropped the ball... HARD. dent445 1 Quote Link to comment Share on other sites More sharing options...
lololgg Posted August 10, 2022 Report Share Posted August 10, 2022 Hey! If there are any practising dentists right now, would you be able to answer some questions for me? I applied for loans and it’s certainly looking to be over $250k. With your experience, is it hard to repay that loan as you start off in this field? And how much can I expect to make in a year? Quote Link to comment Share on other sites More sharing options...
Zaandrei. Posted August 12, 2022 Report Share Posted August 12, 2022 It all depends on how much you want to work; what type of procedures you do and how busy you are. Most make between 125-225k from what I gather in the first few years. I was able to be on the high end by working 5 full days in a smaller town. In Toronto it's hit/miss due to competition and how busy you are. Depending on your personal finances you may be able to save up 100k/year - that's what I did; but I didn't spend any money I didn't need to spend, and my accommodations were reasonably cheap and being shared with my significant other. Also taxes suck - but I was able to use a lot of education tax credits which were basically wiped out more recently from the tax system. dent445 1 Quote Link to comment Share on other sites More sharing options...
lololgg Posted August 25, 2022 Report Share Posted August 25, 2022 On 8/12/2022 at 8:03 AM, Zaandrei. said: It all depends on how much you want to work; what type of procedures you do and how busy you are. Most make between 125-225k from what I gather in the first few years. I was able to be on the high end by working 5 full days in a smaller town. In Toronto it's hit/miss due to competition and how busy you are. Depending on your personal finances you may be able to save up 100k/year - that's what I did; but I didn't spend any money I didn't need to spend, and my accommodations were reasonably cheap and being shared with my significant other. Also taxes suck - but I was able to use a lot of education tax credits which were basically wiped out more recently from the tax system. Thank you for this. Yes ofc it depends on wide array of situations. If you don’t mind me asking, by “small town” are u referring to anywhere kinda that’s out of gta, Vancouver and such? Quote Link to comment Share on other sites More sharing options...
Shae94 Posted August 25, 2022 Report Share Posted August 25, 2022 Small Town is more like kitimat Vancouver is the same as GTA in that regards. I live in Burnaby and there's like 5 dental clinics in a 2 block stretch. I did my shadowing at a competitive clinic in that area and it was always busy because they were the only clinic offering sedation. But between the rest there's a lot of competition. I actually used to work for Scotiabank and now I work for RBC lol obviously while I'm still a pre-dent In terms of LOC, RBC and Scotia are pretty much the same in terms of interest and amount. However, as @Zaandrei.mentioned RBC is much more professional and offer faster and more reliable service. I highly recommend RBC. Just an FYI should you need a bigger amount, CIBC may approve you for UpTo 400K provided you can prove that you need that much. It is not mentioned anywhere on their website or products but if you need more information, visit CIBC branch at UBC and talk to their Professional LOC advisor. He's very nice and knowledgeable. Lastly i highly recommend every dentist to learn about finances and banking practices. It will help you greatly in the long run regardless of whether you want to work for someone or open your own practice one day Hope this helps some of you out there Quote Link to comment Share on other sites More sharing options...
Zaandrei. Posted August 30, 2022 Report Share Posted August 30, 2022 On 8/25/2022 at 1:59 AM, lololgg said: Thank you for this. Yes ofc it depends on wide array of situations. If you don’t mind me asking, by “small town” are u referring to anywhere kinda that’s out of gta, Vancouver and such? Small town about 2 hours from the GTA; area only had about 50k people. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.