Guest viscous Posted March 9, 2009 Report Share Posted March 9, 2009 There are actually 19 in our class In the long run, it's better than not going to med school (unless you have some other professional degree/a good job lined up). are you a Canadian citizen? what year are you in? Link to comment Share on other sites More sharing options...
a41 Posted March 9, 2009 Report Share Posted March 9, 2009 Canadian citizen, MS1. Link to comment Share on other sites More sharing options...
token Posted March 9, 2009 Report Share Posted March 9, 2009 So a41 could you give us a general idea of how most of the Canadians are funding their education at Wayne? Loans, parents, etc? Also do Canadians have to have proof of their ability to pay in advance? Thanks! Link to comment Share on other sites More sharing options...
a41 Posted March 9, 2009 Report Share Posted March 9, 2009 It seems like everyone I know is using a combination of loans and parents. Some people are using exclusively one or the other. You only need to show the ability to pay for 1 year's worth of tuition. Link to comment Share on other sites More sharing options...
Guest viscous Posted March 9, 2009 Report Share Posted March 9, 2009 Canadian citizen, MS1. what is MS1? How easy is it for Canadians to get matched in the US residency positions without having to waste another year of their life after getting their MD, just like how we (I) had to do after getting our Bsc while waiting to get into med? Link to comment Share on other sites More sharing options...
Guest copacetic Posted March 9, 2009 Report Share Posted March 9, 2009 what is MS1? How easy is it for Canadians to get matched in the US residency positions without having to waste another year of their life after getting their MD, just like how we (I) had to do after getting our Bsc while waiting to get into med? MS1 = first year medical student. in terms of canadians matching to US residencies, you are treated the same as all the american medical graduates. being canadian wont affect you as long as you graduate from an american school. (LCME accredited school). LCME accredited schools are pretty much all med schools in canada and the united states. thus going to an american medschool wont affect you much for matching to a canadian residency either. you're in the same boat as the folks that stayed in canada to to med school. (at least officially) Link to comment Share on other sites More sharing options...
hellosc Posted March 9, 2009 Report Share Posted March 9, 2009 It seems like everyone I know is using a combination of loans and parents. Some people are using exclusively one or the other. You only need to show the ability to pay for 1 year's worth of tuition. ok...lol...but what if you don't have enough money for your 2nd year tuition..or 3rd year or 4th year? ....can you take out more loans??? Link to comment Share on other sites More sharing options...
Guest copacetic Posted March 9, 2009 Report Share Posted March 9, 2009 ok...lol...but what if you don't have enough money for your 2nd year tuition..or 3rd year or 4th year? ....can you take out more loans??? you will need to take out more loans, yes. in some cases being a medical student will open up scholarship opportunities, or the banks might be more lenient in the loan requirements for your 3rd or 4th year, but the challenge remains of getting funding. Link to comment Share on other sites More sharing options...
n00b Posted March 12, 2009 Author Report Share Posted March 12, 2009 i wish i was a baller Link to comment Share on other sites More sharing options...
UserName Posted March 12, 2009 Report Share Posted March 12, 2009 is it true that if you take a loan from american banks you will be charged high interest rates higher than the regular student rates? even if you have american relatives signing for u? how significant is this? anyway to overcome it? anybody also knows if it's possible to take american loans to study in the carrib or australia? Link to comment Share on other sites More sharing options...
token Posted March 12, 2009 Report Share Posted March 12, 2009 Well most American students take federal loans. They have extremely low interest rates that I don't think any private bank could match. Also subsidized federal loans don't accrue interest until after residency, while your debt would be growing right from the start. I'm actually not sure if the unsubsidized staffords are still available to us with a US co-signer, but if they are that would definitely be better than a bank loan. Link to comment Share on other sites More sharing options...
NiV Posted March 22, 2009 Report Share Posted March 22, 2009 Token have u looked into the policies for getting a fedral loan. So is it avaliable to Canadians with American co-signer? Link to comment Share on other sites More sharing options...
token Posted March 22, 2009 Report Share Posted March 22, 2009 Sorry yea you can't get federal loans. I think I was confused because several schools ask you to fill out the FAFSA anyway. One said it was because international students could still get unsubsidized loans. That may have been true in the past but not anymore...if you're filling out the FAFSA it's only so the school can get your information. There is still that private company that will give Canadians loans (internationalstudentloan.com I think). Link to comment Share on other sites More sharing options...
n00b Posted March 22, 2009 Author Report Share Posted March 22, 2009 hey token how are you planning to pay for med school? Link to comment Share on other sites More sharing options...
token Posted March 22, 2009 Report Share Posted March 22, 2009 If I go to Vandy I won't need much beyond rent and food (so maybe $15K a year). Doable with work and some support from my parents. If I go anywhere else, it's more complicated...I have an older sibling that went through all this but the financial climate makes it especially daunting this year. I'm relying on American relatives and my parents to get me loans. Link to comment Share on other sites More sharing options...
Guest copacetic Posted March 23, 2009 Report Share Posted March 23, 2009 Sorry yea you can't get federal loans. I think I was confused because several schools ask you to fill out the FAFSA anyway. One said it was because international students could still get unsubsidized loans. That may have been true in the past but not anymore...if you're filling out the FAFSA it's only so the school can get your information. There is still that private company that will give Canadians loans (internationalstudentloan.com I think). internationalstudentloan.com no longer offers loans to canadians do to the credit crisis. the reality is that if you want money from the states there are only 2 options. eitther the school will give you money in the form of scholarships, or you will need a cosigner to get a private student loan. Link to comment Share on other sites More sharing options...
NiV Posted March 23, 2009 Report Share Posted March 23, 2009 Is it possible to get a loan from American Banks with the help of American co-signer? Since I thought they might give a better interest rate than private loan companies like international Students. Link to comment Share on other sites More sharing options...
Guest copacetic Posted March 23, 2009 Report Share Posted March 23, 2009 yes you can Link to comment Share on other sites More sharing options...
terryann Posted March 23, 2009 Report Share Posted March 23, 2009 Canadian dollar soars against American currency Updated: Thu Mar. 19 2009 10:47:49 AM The Canadian Press TORONTO — The Canadian dollar is soaring as the American buck falls and key commodities rise following the U.S. central bank's latest efforts to stimulate the economy. The loonie was up 1.09 cents at midmorning, taking the Canadian dollar to 81.33 cents US. The Canadian currency had been up by as much as 1.78 cents early in the session. RBC Capital analyst George Davis says the loonie is taking flight because of the American dollar's weakness against most other currencies and because of a spike in oil and gold prices. The American dollar has fallen because of worries that the latest moves by the Federal Reserve will stoke inflation. In turn, investors have turned to crude oil and gold bullion as protection against inflatiion. Earlier in the day, the Canadian dollar briefly rose above 82 cents US for the first time since early February. Link to comment Share on other sites More sharing options...
Dayne67 Posted March 23, 2009 Report Share Posted March 23, 2009 thanks for the update on the looney. I'm just waiting for the right time to convert my funds into American..... Link to comment Share on other sites More sharing options...
Alastriss Posted March 23, 2009 Report Share Posted March 23, 2009 F*CK YEAH damn 10 character limit Link to comment Share on other sites More sharing options...
terryann Posted March 23, 2009 Report Share Posted March 23, 2009 yep, watch loonie, when my sister was part way through first yr the loonie was at 1.10....now 30%less...2 years later..dahh...lesson learned watch the loonie...the difference in interest rates costs her an extra $15,000 per year.. Link to comment Share on other sites More sharing options...
UserName Posted March 23, 2009 Report Share Posted March 23, 2009 yes you can So which banks will let you do that? it seems a little difficult at least if i wanted to study outside the US (like Australia). I just confirmed with the American branch of RBC and the max LOC they would give is $25000 USD.. and this is assuming my co-singer opens a checking account in Canada! perhaps if it was for American schools it will be easier? but still i would greatly appreciate some bank names. Link to comment Share on other sites More sharing options...
Guest copacetic Posted March 23, 2009 Report Share Posted March 23, 2009 So which banks will let you do that? it seems a little difficult at least if i wanted to study outside the US (like Australia). I just confirmed with the American branch of RBC and the max LOC they would give is $25000 USD.. and this is assuming my co-singer opens a checking account in Canada! perhaps if it was for American schools it will be easier? but still i would greatly appreciate some bank names. dont talk to the american branch. talk to the canadian branch. is that 25K USD per year, or over 4 years. if its per year, then might as well go with them, cause the RBC canadian branch will give about the same (when you account for the exchange rate and the weaker canadian dollar/year). besides RBC, i believe national bank of canada also gives loans. BMO also, CIBC i think, but im not sure, dont really remember, scotia 'officially' says no if youre going outside of canada, but you can just sweet talk them. the bottom line is that most banks even if their official policy is not to give money to people going outside of canada will still give you money (once you sweet talk them) IF you have a strong cosigner. (I.E high income or high positive net worth like a house that is almost paid off). the only thing the bank cares about is that they have some way of getting their money back. Link to comment Share on other sites More sharing options...
UserName Posted March 23, 2009 Report Share Posted March 23, 2009 Well that's the problem.. i don't have a Canadian cosigner that's why I need to get the money from American institutions where my uncle could be a strong co-signer. RBC Canada and BMO already declined. That 25K is the total LOC for all the 4 years. it's not looking too good honestly. Link to comment Share on other sites More sharing options...
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