Escrow Account

[loladera]

...................

[loladera]

many of the schools people here have applied to require escrow accounts- anyone knows anything about how to get the bank to fund this? anyone?

[aquaman]

You actually have to rob the bank.

[token]

Do they need all four years, or just one year?

[loladera]

They need the money for all four years! Yeah, I thought of robbing the bank too, but then I got serious...

[Alastriss]

the only ones I know that do this are SLU and NYMC. Who else does this?

[loladera]

NYU and Hopkins too.

[Rach]

Do they only need to see proof that you have the funds for 4 years, or must you pay them the full amount right away?

 

Guess I can scratch those schools off my list!

[token]

Neither NYU nor Hopkins require escrow accounts for Canadians. They do for other international students.

[n00b]

are you sure about hopkins?

[token]

Yes.

 

They still won't give us financial aid though.

[n00b]

penn requires escrow

[UserName]

You can take the RBC line of credit if you have a Canadian cosigner.. and if you have an American cosigner you can get an American student loan or LOC.. plus you have about 10K per year from OSAP. But it could be a dead end too. it might simply not be feasible unfortunately.

[token]

Yep- I think Upenn does too. I read that Hopkins does too. I am Canadian! So amid this shock and surprise, anybody has suggestions as to how to get this money?

(and no, not just proof, but the real money is what they want!)

Hopkins doesn't require the escrow if you're Canadian.

 

Pretty sure UPenn doesn't even accept Canadians unless you did undergrad in the states.

[kalia]

Neither NYU nor Hopkins require escrow accounts for Canadians. They do for other international students.

 

I thought NYU didn't take international students except Canadians?

 

"In view of the large number of applications to the School and the difficulties involved in the application procedure for students abroad, foreign candidates are not encouraged to apply if they are not permanent residents of the United States. However, Canadian citizens are eligible to apply to the MD program. They are not eligible for MD/PhD."

[token]

I thought NYU didn't take international students except Canadians?

 

"In view of the large number of applications to the School and the difficulties involved in the application procedure for students abroad, foreign candidates are not encouraged to apply if they are not permanent residents of the United States. However, Canadian citizens are eligible to apply to the MD program. They are not eligible for MD/PhD."

That's weird...but there's nothing in the materials I got from NYU about an escrow account. I think most of the NYC schools require at least one years tuition upfront however they've all clearly stated that in writing.

 

In one of the letters Hopkins sent it says something like "blah blah be aware that international students need to deposit the full tuition in a US account....Canadians are exempt from this requirement." So that's for sure.

[Rach]

I think I have read that Cornell also requires all 4 years, can anyone confirm this?

 

So far these are the ones we agree on:

 

SLU

NYMC

UPenn

 

ETA: Just searched and read that Wash U and Mt Sinai require the 4 year $$ though I'm not sure how trustworthy old posts are.

 

 

I need to start cutting down my application list so I might as well cut out the ones that require this instead of applying then realizing how hard it would be to get all that money up-front.

[token]

Cornell does not require escrow if you are Canadian. Still no financial aid.

 

Maybe someone can offer evidence otherwise, but I'm fairly certain UPenn does not accept foreigners who did not complete at least 1 year of undergraduate studies in the US. (I'm still bitter I didn't realize this in advance. Worst use of $100+ ever).

 

To add to the list...

 

AECOM requires two years tuition.

 

Columbia requires each year's expenses upfront ($67K), or proof you will be getting loans in installments.

[n00b]

no aecom requires half yr tuition upfront for canadians

[tree999]

From the U Penn website:

"International Students: To provide the School of Medicine with a basis for evaluating and comparing applicants' performance and to increase the student's likelihood of success in medical school, those who receive degrees from foreign institutions are required to have completed one year of course work in the sciences at a college or university in the United States before an application for admission to the first year of medical school will be considered."

 

I didn't realize this either until token mentioned it! So many wasted dollars...

[Rach]

Cornell does not require escrow if you are Canadian. Still no financial aid.

 

Maybe someone can offer evidence otherwise, but I'm fairly certain UPenn does not accept foreigners who did not complete at least 1 year of undergraduate studies in the US. (I'm still bitter I didn't realize this in advance. Worst use of $100+ ever).

 

To add to the list...

 

AECOM requires two years tuition.

Columbia requires each year's expenses upfront ($67K), or proof you will be getting loans in installments.

 

token, what are you including in this figure? The tuition, non-resident fees, and insurance add up to ~43K. Is this taking into account CDN-->USD conversion?

[token]

token, what are you including in this figure? The tuition, non-resident fees, and insurance add up to ~43K. Is this taking into account CDN-->USD conversion?

They also want proof you can pay for housing, food etc. which they estimate to be around 15K USD.

[Rach]

They also want proof you can pay for housing, food etc. which they estimate to be around 15K USD.

 

Oh I see. I guess a homeless and hungry med student wouldn't do too well.

[token]

Oh I see. I guess a homeless and hungry med student wouldn't do too well.

Ha, yea. But at least they do offer financial aid. So if they gave you $20K in loans or whatever, you'd only have to ask the bank for $50K each year.

[Rach]

In case it helps anyone, U of Colorado also requires an escrow account ($260,000.00 in 2008).

 

U of Colorado

SLU

NYMC

UPenn

WashU

 

Not sure if I can to apply to any of these....