2011hope Posted December 12, 2009 Report Share Posted December 12, 2009 Hey all, I am not sure this if this is in the right forum or not but I am wondering how people pay for school in the USA. Let's say I get into a program in the States, given then I have no collateral and no co-signers, how in the world could I pay for my tuition, living, and books/equipment costs? Link to comment Share on other sites More sharing options...
Gitanjali Posted December 12, 2009 Report Share Posted December 12, 2009 I just got a 150,000 loan approved from TD - my dad was my co signer though..dont know where one would get such a huge loan from without any collateral or cosigner:cool: Link to comment Share on other sites More sharing options...
sky_blue2000 Posted December 12, 2009 Report Share Posted December 12, 2009 I was wondering about that..I've heard that mostly people get about $150,000 from a bank. However, if at an average university it would cost about $60,000+ per year for Canadians, right? So where do you get the remainder? Link to comment Share on other sites More sharing options...
Gitanjali Posted December 12, 2009 Report Share Posted December 12, 2009 i think we can get a little bit of OSAP too..about 40,000 dolalrs for the 4 years..the balance amount..i guess you beg, borrow or steal.. Link to comment Share on other sites More sharing options...
future_doc Posted December 12, 2009 Report Share Posted December 12, 2009 In the normal course, they should not require a cosigner. Also, at least one bank has raised the amount to $200,000. And I assume you locked in prime for the duration of the loan until repayment of capital. oops - I see this is a US thread, different story. Link to comment Share on other sites More sharing options...
Guest viscous Posted December 12, 2009 Report Share Posted December 12, 2009 what qualities should a co-signer have? A massive real-estate? A humongous business spread out across teh world? hmm Link to comment Share on other sites More sharing options...
c17h Posted December 12, 2009 Report Share Posted December 12, 2009 i think we can get a little bit of OSAP too..about 40,000 dolalrs for the 4 years..the balance amount..i guess you beg, borrow or steal.. I thought you can't get OSAP if you go to school in the US...correct me if I'm wrong... Link to comment Share on other sites More sharing options...
2011hope Posted December 12, 2009 Author Report Share Posted December 12, 2009 This has gotten off topic fast. As I said, i don't have a cosigner. So what are my options (if any)? Link to comment Share on other sites More sharing options...
Gitanjali Posted December 12, 2009 Report Share Posted December 12, 2009 I thought you can't get OSAP if you go to school in the US...correct me if I'm wrong... My dad who is a CA did some research and said we are eligible for OSAP as Canadians going to US school...I usually never doubt his word...but he could be wrong:rolleyes: oo and 2011 hope...sorry for going off track dude, but you have no options..you're doomed... kidding:-) you need to do more research i guess Link to comment Share on other sites More sharing options...
c17h Posted December 12, 2009 Report Share Posted December 12, 2009 This has gotten off topic fast. As I said, i don't have a cosigner. So what are my options (if any)? Sorry for taking your thread off topic. One of my best friends just got a loan for $150,000 from RBC or TD last summer, and he did not have a co-signer...however, he did have a good credit rating (so be sure to pay bills lol)... other than a bank loan, I can't see how you would be able to get THAT much money..?? Link to comment Share on other sites More sharing options...
c17h Posted December 12, 2009 Report Share Posted December 12, 2009 My dad who is a CA did some research and said we are eligible for OSAP as Canadians going to US school...I usually never doubt his word...but he could be wrong:rolleyes: That's very interesting... I'll have to look into this... might help ease up the financial situation in future years if I decide to go to the US, thanks! Link to comment Share on other sites More sharing options...
sky_blue2000 Posted December 12, 2009 Report Share Posted December 12, 2009 I'm not sure about the US but I know people who have hone tithe Caribbean and received OSAP so I think it should be the same for the US. Link to comment Share on other sites More sharing options...
KennethToronto Posted December 12, 2009 Report Share Posted December 12, 2009 If you go to the US, you are still eligible for OSAP. However, the "above $7000 and you don't have to pay it back" doesn't exist. Link to comment Share on other sites More sharing options...
2011hope Posted December 12, 2009 Author Report Share Posted December 12, 2009 Sorry for taking your thread off topic. One of my best friends just got a loan for $150,000 from RBC or TD last summer, and he did not have a co-signer...however, he did have a good credit rating (so be sure to pay bills lol)... other than a bank loan, I can't see how you would be able to get THAT much money..?? He got that for going to a school in the US? Because they told me they only give that without a cosigner if you are in a Canadian school. Link to comment Share on other sites More sharing options...
c17h Posted December 13, 2009 Report Share Posted December 13, 2009 He got that for going to a school in the US? Because they told me they only give that without a cosigner if you are in a Canadian school. Yes he did. HOWEVER, I'm not sure about the details of this case because we don't really discuss finances (he may have had amazing credit rating or crazy connections or something)...but it IS possible!! Just curiosity (don't feel obliged to answer), but why are you considering the situation without a cosigner? Parents, working sibling, extended family member? Link to comment Share on other sites More sharing options...
2011hope Posted December 13, 2009 Author Report Share Posted December 13, 2009 Yes he did. HOWEVER, I'm not sure about the details of this case because we don't really discuss finances (he may have had amazing credit rating or crazy connections or something)...but it IS possible!! Just curiosity (don't feel obliged to answer), but why are you unable to get a cosigner? Parents, working sibling, extended family member? My parents refuse, my only sibling doesn't qualify, and I have no extended family. My plan now is to work on getting-in in Canada but being able to go to the US and study already is tempting. Link to comment Share on other sites More sharing options...
c17h Posted December 13, 2009 Report Share Posted December 13, 2009 My parents refuse, my only sibling doesn't qualify, and I have no extended family. My plan now is to work on getting-in in Canada but being able to go to the US and study already is tempting. Sorry to hear that! Maybe even try a family friend? I know that's really pushing it, but it sounds like your options are getting limited. Try doing some more research, and talking to banks... you never know what could happen!! Best of luck...I hope it works out. Link to comment Share on other sites More sharing options...
2011hope Posted December 13, 2009 Author Report Share Posted December 13, 2009 Sorry to hear that! Maybe even try a family friend? I know that's really pushing it, but it sounds like your options are getting limited. Try doing some more research, and talking to banks... you never know what could happen!! Best of luck...I hope it works out. Don't have any of those either. Link to comment Share on other sites More sharing options...
Hopeful Med Posted February 22, 2010 Report Share Posted February 22, 2010 My parents refuse, my only sibling doesn't qualify, and I have no extended family. My plan now is to work on getting-in in Canada but being able to go to the US and study already is tempting. Why would your parents refuse? Do they not understand that your future income prospects are fantastic? Link to comment Share on other sites More sharing options...
2011hope Posted February 22, 2010 Author Report Share Posted February 22, 2010 Why would your parents refuse? Do they not understand that your future income prospects are fantastic? They are in a bad way financially. Link to comment Share on other sites More sharing options...
ChicoMaki Posted March 10, 2010 Report Share Posted March 10, 2010 http://www.cbc.ca/money/story/2010/03/10/loonie-par.html?ref=rss those of you thinking about converting some funds... maybe wait a bit Link to comment Share on other sites More sharing options...
keith_015 Posted March 10, 2010 Report Share Posted March 10, 2010 http://www.cbc.ca/money/story/2010/03/10/loonie-par.html?ref=rss those of you thinking about converting some funds... maybe wait a bit Might almost be worth getting Cdn loans for this year. Link to comment Share on other sites More sharing options...
PAguy Posted March 18, 2010 Report Share Posted March 18, 2010 Yes he did. HOWEVER, I'm not sure about the details of this case because we don't really discuss finances (he may have had amazing credit rating or crazy connections or something)...but it IS possible!! Just curiosity (don't feel obliged to answer), but why are you considering the situation without a cosigner? Parents, working sibling, extended family member? I'd really like to know how this person got that loan because I'm in the same boat as 2011hope; no cosignor at all. I've literally applied for these med loans at 6 canadian banks and they all say you need a cosignor if you're studying outside of canada. My credit rating is excellent (says the bank), but my cosignor (family) doesn't make enough money to be credit 'worthy' (~$35K). All of my 6 applications were denied. So to my knowledge, unless you have a worthy cosignor, you're not getting any money from a bank to study in the US. If someone does know how to get one without a cosignor, please enlighten us all because it would be extraordinarily helpful. Link to comment Share on other sites More sharing options...
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