MD Financial Posted August 11, 2008 Report Share Posted August 11, 2008 This year's backpacks are sky blue. Link to comment Share on other sites More sharing options...
Dante Posted August 11, 2008 Report Share Posted August 11, 2008 hahaha thanks! Link to comment Share on other sites More sharing options...
lostintime Posted August 12, 2008 Report Share Posted August 12, 2008 One BIG issue I have with RBC is that their people do NOT know what they're talking about. I'm pretty sure prime is standard for medical students LOC now, but just on the phone, I got this lady who claims that it's prime + 1. That's so ridiculous. I WENT in PERSON to another RBC branch and someone told me it was prime (but the problem with that guy was that he kept claiming I was "at risk" of not getting it approved because I was only a student and not a homeowner *rolls eyes*) I understand there are some people at RBC who know what they're talking about, but if other people don't, they really shouldn't get them to pick up the phone. Edit: This is hilarious. I just called again, and now the 3rd RBC person I spoke to says it's prime again. How quickly their rates change.... Link to comment Share on other sites More sharing options...
ouchitburns Posted August 12, 2008 Report Share Posted August 12, 2008 I just got mine approved from RBC at prime. Link to comment Share on other sites More sharing options...
susieQ Posted August 12, 2008 Report Share Posted August 12, 2008 In my situation, I got an RBC loan for prime while I'm in school. After I graduate, it goes up to prime+1 ... maybe that's why you've been getting mixed answers from RBC? Personally, the first account manager I went to was completely incompetent, so I did end up switching to a different branch to handle my loc. Once I switched to my present account manager, everything went really smoothly - I was approved in less than 2 weeks You just have to find someone has experience with student professional loans and you should be fine. Link to comment Share on other sites More sharing options...
lostintime Posted August 12, 2008 Report Share Posted August 12, 2008 Oh really? Well RBC (3rd, most competent person so far but still doesn't seem to REALLY know what she's talking about) told me that it would stay at prime "forever"...which seemed SO sketchy. The second person was VERY insistent on the fact that it would be prime + 1 throughout med school. And very confident about herself *rolls eyes*. Link to comment Share on other sites More sharing options...
lostintime Posted August 13, 2008 Report Share Posted August 13, 2008 Lol I did this over the phone. When I set up the "real" thing, of course I'm gonna go in person. So far, I'm planning to do it in September in London so I can access them easier. Phone, as I've found out, is not as good. Even when I went in person, this RBC guy asked me what "degree" (*cough* MD *cough*) I would get for being a doctor....REALLY informed about medical student LOCs I see.... Link to comment Share on other sites More sharing options...
BMO guy Posted August 13, 2008 Report Share Posted August 13, 2008 thought i`d just speak up for some of my RBC counterparts...I think there are often confusion regarding things like medical student line of credits because people do not deal with them on a regular basis. Most branch staff are more likely to deal with normal student line of credits usually at Prime+1%. Given that there are literally hundreds of products available at all banks, I think its a little unfair for people to expect them to know everything about every product. We have similar problems at BMO, and a HUGE part of my job is to educate our BMO staff, however sometimes things just go in one ear and out the other when you rarely deal with something. I think it can be comparable to learning a language, where if you rarely use it, you lose it. I think this is way in many areas there are specialists like myself to help out the branch staff, even if they don`t remember the rates and features of a products they can always refer the clients to me. I think all the banks are becoming more and more aware of the professional student market, and I think in the next few years you will see much more consistency and better service for you guys from all the banks. hehe...in the mean time, please be patient with us:) I think most banks all have their reps on this site, perhaps if you contacted them, they will be able to give you better advice/guidance and direct you to the right person in your area. FYI...BMO's medical student line of credit rate stays at Prime for the life of the loan (until you pay it off in full) with out ever the need to renegotiate the rate. Let me know if you have any additional questions! howe.gu@bmo.com Link to comment Share on other sites More sharing options...
longwaydown Posted August 13, 2008 Report Share Posted August 13, 2008 Yep, I think BMOguy's got it right - they don't learn about products they don't sell, not surprisingly. If you're not talking to somebody from a branch near a med/dent school, they most likely won't have a clue. Here's RBC's list of "medical and dental student champions", as they call them, which is probably a good place to start. http://www.rbcroyalbank.com/student/medical/specialists.html Link to comment Share on other sites More sharing options...
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