Guest copacetic Posted March 24, 2009 Report Share Posted March 24, 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. if you have a strong cosigner, go with sallie mae. they have loans that will cover everything. i wanted to go with them, but i dont have and american cosigner....or a canadian one (so it seems). right now its looking like i might not get to live my dream in ife, but maybe you will have better prospects. best of luck!! Link to comment Share on other sites More sharing options...
Zuckman Posted March 27, 2009 Report Share Posted March 27, 2009 Hey Copacetic, That doesn't sound too good. It seems that if you don't have a cosigner, then basically you'll have to wait and try for Canadian schools (which may never happen). I guess this is all because of the financial crisis. Must suck to go through all the hard work and not be able to attend med school. Sorry to hear that. I hope things work out for you! Zuck Link to comment Share on other sites More sharing options...
Guest copacetic Posted March 28, 2009 Report Share Posted March 28, 2009 when you went to rbc, did you talk to one of the med/dent professional line of credit specialists? if not, i'd suggest going back and making sure you speak to one of them. http://www.rbcroyalbank.com/student/medical/specialists.html you should still be able to get a 150K, just not all at once. likely 50K per year, to which you can add student loans... in the us, you could try something like this with a us cosigner (if citibank is still lending out money) https://online.citibank.com/US/JRS/pands/detail.do?ID=CitiAssistHPRL not gonna happen. even if if i qualified (with a cosigner) for the 150K, its not the banks policy to give people who qualify the full amount up front. they give you about 37K each year for 4 years (which sums up to 150K). Link to comment Share on other sites More sharing options...
token Posted March 28, 2009 Report Share Posted March 28, 2009 Do you need all the tuition upfront? Link to comment Share on other sites More sharing options...
Guest copacetic Posted March 28, 2009 Report Share Posted March 28, 2009 nope. Ill be going to case western. I only need to have tuition for the year. the deadline to pay is actually a month after classes have started at case. Ive got enough from my parents retirement savings, osap, and other resources to pay for a year and a half, maybe 2, but notthe rest. at least not without an LOC, which i am still currently working on. Link to comment Share on other sites More sharing options...
Guest viscous Posted March 28, 2009 Report Share Posted March 28, 2009 when do you apply for OSAP for classes starting in 2009? Link to comment Share on other sites More sharing options...
token Posted March 28, 2009 Report Share Posted March 28, 2009 nope. Ill be going to case western. I only need to have tuition for the year. the deadline to pay is actually a month after classes have started at case. Ive got enough from my parents retirement savings, osap, and other resources to pay for a year and a half, maybe 2, but notthe rest. at least not without an LOC, which i am still currently working on. Ah, and your parents can't co-sign with you? Link to comment Share on other sites More sharing options...
Zuckman Posted March 28, 2009 Report Share Posted March 28, 2009 Maybe after 2 years, a bank will be willing to give you an LOC without a cosigner? Link to comment Share on other sites More sharing options...
Zuckman Posted March 28, 2009 Report Share Posted March 28, 2009 I'm thinking, if you can find a way to get through let's say 3 years and then approach a bank for one year's worth..that could work. I hope so because my friend is in a similar situation. He can actually only afford 2 years right now with his own cash. Link to comment Share on other sites More sharing options...
Guest copacetic Posted March 29, 2009 Report Share Posted March 29, 2009 when do you apply for OSAP for classes starting in 2009? im not sure about this. need to look into that. probably same time you normally do for undergrad. Ah, and your parents can't co-sign with you? nope. no assets in canada. they have two houses in our native country, but the banks here wont use that as collateral (no legal jurisdiction), and the banks there will give us a small amount (which to them is alot, lol) Maybe after 2 years, a bank will be willing to give you an LOC without a cosigner? I'm thinking, if you can find a way to get through let's say 3 years and then approach a bank for one year's worth..that could work. I hope so because my friend is in a similar situation. He can actually only afford 2 years right now with his own cash. im actually hoping for that as well. one of the credit specialists from one of the banks told me over the phone that the requirements can be more flexible and lenient once you have already started. you can even get an amount above the 150K in certain instances where you are about to finish your last year and need an extra amount. Link to comment Share on other sites More sharing options...
Zuckman Posted March 31, 2009 Report Share Posted March 31, 2009 Hey Copacetic, Have you looked into GradPlus Loans? I have a feeling that they're only for US citizens, BUT it may be possible for international students attending an American school. From what I've read, you got accepted to Case Western right? Well, that's an amazing school so try to do whatever you can to start your studies there! What other options have you looked at. My friend is in a similar position as you are in! Zuck Link to comment Share on other sites More sharing options...
Guest copacetic Posted March 31, 2009 Report Share Posted March 31, 2009 Hey Copacetic, Have you looked into GradPlus Loans? I have a feeling that they're only for US citizens, BUT it may be possible for international students attending an American school. From what I've read, you got accepted to Case Western right? Well, that's an amazing school so try to do whatever you can to start your studies there! What other options have you looked at. My friend is in a similar position as you are in! Zuck ive been to the sallie mae website. as a canadian the only one of their loans i am eligible for is the signature student loan, which is great, except for the fact that i need a U.S. cosigner. with the credit crisis its not enough that your cosigner have good credit...they pretty much gotta be upper middle class. i dont have that many relatives in the states, and the ones that i do have dont have the greatest credit and/or are not upper middle class folks with great income/lots of tangible assets. i apporached two people, one whom i am related to. they said they couldnt do it b/c they have cosinged for others in the past and gotten screwed, and the creditors wont allow them to cosign cause when you get screwed over by people who you cosign for it affects your credit too, not just theirs. the other person was too nervous to cosign since her business has taken a downturn due to the economic crisis, and she does not feel financially secure. i am being considered for a scholarship from case western however, im still waiting to hear back on whether or not i got it. i got my fingers crossed. this stupid financial crisis has really messed up alot of internationals hoping to study abroad. oh well. c'est la vie. Link to comment Share on other sites More sharing options...
Guest viscous Posted April 25, 2009 Report Share Posted April 25, 2009 we need to keep at least this thread alive in this dead atmosphere. Link to comment Share on other sites More sharing options...
n00b Posted April 25, 2009 Author Report Share Posted April 25, 2009 this is true Link to comment Share on other sites More sharing options...
a1b1 Posted April 25, 2009 Report Share Posted April 25, 2009 I have been reading through this thread and found it brings forward alot of interesting topics. Although this may be obvious, I was just curious to know.... If one apply's to a US school such as Dartmouth for example or any other US schools that provides financial funds to canadian students. Do these funds cover the entire cost of tuition for 4 years + living expenses? or am I missing something here. sorry for any grammar mistakes i may of written. Link to comment Share on other sites More sharing options...
n00b Posted April 25, 2009 Author Report Share Posted April 25, 2009 lol darthmouth anyway no, fullrides are extremely rare Link to comment Share on other sites More sharing options...
KennethToronto Posted April 25, 2009 Report Share Posted April 25, 2009 I have been reading through this thread and found it brings forward alot of interesting topics. Although this may be obvious, I was just curious to know.... If one apply's to a US school such as Dartmouth for example or any other US schools that provides financial funds to canadian students. Do these funds cover the entire cost of tuition for 4 years + living expenses? or am I missing something here. sorry for any grammar mistakes i may of written. DMS provided me 20K or so per year, effectively reducing the yearly tuition to $20k / year, which is reasonable in the US> Link to comment Share on other sites More sharing options...
SpanishFly Posted May 5, 2009 Report Share Posted May 5, 2009 Has anybody who's for sure going to the US this fall applied for OSAP? I'm not sure whether I will be going for sure but thought I'd take a look at loan options now and I came upon this: http://https://osap.gov.on.ca/eng/not_secure/App_type_fulltime_COISL_1234.htm would it be better to just apply for a professional LOC (like RBC) then to get OSAP with a prime + 1 rate? Link to comment Share on other sites More sharing options...
Monster Posted May 5, 2009 Report Share Posted May 5, 2009 yeah but you have to pay interest on the LOC while you're in school..makes more sense to use osap first..then when you need to pay it off, just use your loc to pay it off 'cause it has a better interest rate. Also, you can negotiate with osap when you have to pay it back... Link to comment Share on other sites More sharing options...
silvermen85 Posted May 5, 2009 Report Share Posted May 5, 2009 yeah but you have to pay interest on the LOC while you're in school..makes more sense to use osap first..then when you need to pay it off, just use your loc to pay it off 'cause it has a better interest rate. Also, you can negotiate with osap when you have to pay it back... How much can you get for OSAP anyways. The website only calculate the amount of Canadian schools. Link to comment Share on other sites More sharing options...
Monster Posted May 5, 2009 Report Share Posted May 5, 2009 I dunno...but I'm pretty sure someone I know got an osap loan for ~15,000 dollars to go to school in Canada (grad school) so you should be able to get that much or more. It probably wouldn't cover all of the tuition for the U.S. but that's still a substantial amount. If you go through the whole application process online it gives you an estimate at the end. You have to have your tax info handy though (I haven't done that for the U.S. but I did it for grad school last year, which is why I know about the estimate thing) Link to comment Share on other sites More sharing options...
n00b Posted May 5, 2009 Author Report Share Posted May 5, 2009 osap applications usually start in june don't they? or have they opened already Link to comment Share on other sites More sharing options...
Monster Posted May 5, 2009 Report Share Posted May 5, 2009 my reference is from last year...if you were asking me... Link to comment Share on other sites More sharing options...
Dayne67 Posted May 6, 2009 Report Share Posted May 6, 2009 I think that this is a VERY important development for those trying to figure out how to pay US tuition: Loonie touches 2009 highTue May 5, 9:37 AM By Ka Yan Ng TORONTO (Reuters) - The Canadian dollar climbed to its highest level versus the U.S. currency in nearly six months on Tuesday as demand for riskier currencies was on the rise. This week's rebound in commodity prices, oil in particular, helped the Canadian currency hit C$1.1677 to the U.S. dollar, or 85.64 U.S. cents, its highest since November 10. Crude, a key Canadian export, neared $55 a barrel. The currency has recently traded in tandem with equity and commodity markets, in line with a theme of investors increasingly willing to take on more risk. "The main thing is increased risk appetite amid signs global recession is easing," said Sal Guatieri, senior economist at BMO Capital Markets. At 9:10 a.m. EDT, the Canadian unit was at C$1.1703 to the U.S. dollar, or 85.45 U.S. cents, up from C$1.1735 to the U.S. dollar, or 85.22 U.S. cents, at Monday's close. With no major Canadian economic data was due on Tuesday, markets will be watching for employment data, the Ivey Purchasing Managers' Index, and housing reports later this week. U.S. employment figures are due on Friday. A key risk this week may also be the U.S. Federal Reserve's release of the bank stress test results. BONDS MIXED Canadian bonds were mixed with long bonds edging higher, while shorter-dated debt dipped, as investors weighed equity market appetite and supply. Bonds have been flat to lower in recent days as equity markets rose to their best levels in nearly six months. "Given the return of risk appetite and strong rallies in equity markets, it's actually surprising that bonds haven't weakened further," said Guatieri. "In the background, the Fed's purchases of Treasuries are putting a ceiling on U.S. Treasury yields and that's tending to support the Canadian market as well." The two-year Canada bond fell 7 Canadian cents to C$100.42 to yield 1.044 percent, while the 10-year bond rose 27 Canadian cents to C$105.90 to yield 3.065 percent. The 30-year bond rose 10 Canadian cents to C$119.60 to yield 3.852 percent. In the United States, the 30-year Treasury yielded 4.049 percent. (Reporting by Ka Yan Ng; Editing by Jeffrey Hodgson) Is anyone thinking about converting their Canadian funds right now? Or are you guys going to wait in anticipation of an even better exchange rate? Link to comment Share on other sites More sharing options...
a41 Posted May 6, 2009 Report Share Posted May 6, 2009 How much can you get for OSAP anyways. The website only calculate the amount of Canadian schools. I only got $7500 last year. BC students got about $15000. Lousy Ontario government! Something I wish I knew about last year, SallieMae's TuitionPay. They'll let you split up your tuition payment into 10, 9, or 8 monthly payments, interest free (I think you usually only get one of these choices depending on when your tuition is due). It costs $50, (plus another $5 that Wayne charges). It'll give you more flexibility in exchanging funds, and also let you earn a bit of interest (more than the $55, but these days it isn't much... I'm thinking of exchanging funds soon, but I'm waiting a couple days to see if it goes higher! Link to comment Share on other sites More sharing options...
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