buckley_s Posted May 16, 2011 Report Share Posted May 16, 2011 I'm wondering how students who haven't been able to get bank loans/ line of credit have been able to adequately finance their med school expenses. My OSAP estimate is around 21K which barely covers the tuition, and I don't have anyone that I know of who would be willing to co-sign/ sponsor me for a bank loan. I understand that mac has bursaries but approximately how much money is given to students? Also, what other suggestions would people have for someone in my situation? Link to comment Share on other sites More sharing options...
aaronjw Posted May 16, 2011 Report Share Posted May 16, 2011 Umm are you IN med school? Line of credit - no cosigner required for med school students. Link to comment Share on other sites More sharing options...
itimebomb2 Posted May 16, 2011 Report Share Posted May 16, 2011 Every person's situation is unique, but in general, banks are happy to loan tonnes of money to med students. Unless you have an absolutely horrible credit history, it shouldn't be a problem. Have you encountered this? Link to comment Share on other sites More sharing options...
buckley_s Posted May 16, 2011 Author Report Share Posted May 16, 2011 I did look in to LOC, but it was mainly through banks' websites which indicated that for the most part they would need a co-signor :S Link to comment Share on other sites More sharing options...
aaronjw Posted May 16, 2011 Report Share Posted May 16, 2011 There's been a bunch of thread on here recently discissing LOC's for med students. Have a read through some of them. Try to find out the bank reps at your school. They will be able to help you Link to comment Share on other sites More sharing options...
itimebomb2 Posted May 16, 2011 Report Share Posted May 16, 2011 Yeah don't worry about the website. Walk into a branch and make sure you speak to a medical student specialist (standard managers wont give you be appropriate deal). You shouldn't need a cosignor - but even if you did - don't you have parents? Link to comment Share on other sites More sharing options...
leescait Posted May 16, 2011 Report Share Posted May 16, 2011 Yeah, med school loans are different and the information isn't readily found on banking websites. Try getting in touch with MD Financial - as good a bank as any (though you can read the arguments comparing banks), but if you are very concerned about your debt load, you speak with a free financial advisor about budgeting and projected debt prior to signing. I found it really helpful. Link to comment Share on other sites More sharing options...
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