qkx Posted December 27, 2011 Report Share Posted December 27, 2011 how do you do it? osap? loans? (institution based?) are there good places to look for scholarships? Link to comment Share on other sites More sharing options...
Crane Posted December 28, 2011 Report Share Posted December 28, 2011 actually osap does provide loans for overseas education. Link to comment Share on other sites More sharing options...
rmorelan Posted December 28, 2011 Report Share Posted December 28, 2011 actually osap does provide loans for overseas education. slightly off topic question - is that on exchange or actually enrolled in a pure degree at that school? Link to comment Share on other sites More sharing options...
Crane Posted December 29, 2011 Report Share Posted December 29, 2011 slightly off topic question - is that on exchange or actually enrolled in a pure degree at that school? I know for sure they provide funding for students studying abroad (if the school is approved): Link 1; Link 2 For exchange students I believe they do..I came across this site from UoWindsor while searching: Link 3 Link to comment Share on other sites More sharing options...
Dr.Henderson Posted January 26, 2012 Report Share Posted January 26, 2012 Sorry for the old thread bump. If things don't pan out this year for me I'm strongly considering the D.O. route (Mashmetoo I accept your word as gospel:D ). The biggest hindrance to me is figuring out the financial situation. I am married and have an infant daughter, so I'm not going anywhere without minimal financial risk, and adequate funding while I'm in school. Thus, the DO route provides me with minimal financial risk (I'll have a job when I'm done, not cursed with IMG status), BUT how to fund it while I'm there. Scotia and TD have raised their LOC limits for medical school to 250k, which is still not enough for me to comfortably complete a DO degree basically anywhere in the US. Add in student loans, and we're still not hitting the mark. SO, my question! Has anyone successfully gotten TWO lines of credit? I.E. could I go to Scotia and TD and get a LOC from each? That's potentially a huge debt, but with the salary potential afterwards I don't think it'd be unmanagable. To be clear I'd definitely be applying for scholarships, working if possible, my wife would get work if possible as well (if she could get a work permit)- but I wouldn't leave anything to chance- I'd want the LOCs as a security blanket. Link to comment Share on other sites More sharing options...
Mashmetoo Posted January 26, 2012 Report Share Posted January 26, 2012 Sorry for the old thread bump. If things don't pan out this year for me I'm strongly considering the D.O. route (Mashmetoo I accept your word as gospel:D ). The biggest hindrance to me is figuring out the financial situation. I am married and have an infant daughter, so I'm not going anywhere without minimal financial risk, and adequate funding while I'm in school. Thus, the DO route provides me with minimal financial risk (I'll have a job when I'm done, not cursed with IMG status), BUT how to fund it while I'm there. Scotia and TD have raised their LOC limits for medical school to 250k, which is still not enough for me to comfortably complete a DO degree basically anywhere in the US. Add in student loans, and we're still not hitting the mark. SO, my question! Has anyone successfully gotten TWO lines of credit? I.E. could I go to Scotia and TD and get a LOC from each? That's potentially a huge debt, but with the salary potential afterwards I don't think it'd be unmanagable. To be clear I'd definitely be applying for scholarships, working if possible, my wife would get work if possible as well (if she could get a work permit)- but I wouldn't leave anything to chance- I'd want the LOCs as a security blanket. The total amount you can get will still be capped at 250k even if you did get 2 lines of credit. The banks will check your credit history, and can easily tell that you are offered another loan at another bank. The way to get around that is to get some kind of co-signer, e.g., parents with assets that the bank can come after in case you can't make the loan payment. I have heard talk of people getting 350k of credit - Canadians doing USDO, I suggest heading over to the SDN pre-osteo forum - check out the DO for Canadian 2011-2012 thread. Link to comment Share on other sites More sharing options...
bored Posted January 26, 2012 Report Share Posted January 26, 2012 when we are getting LOC.. are we getting the LOC. as in is it under our name or our parents. do parents need to be involved in the LOC matter. cause if not, than we can get 2 Loc that way. Link to comment Share on other sites More sharing options...
lazyboy Posted January 26, 2012 Report Share Posted January 26, 2012 Unless things change from last year, my understanding is Canadian banks need your parent to cosign for LOC if you study outside Canada. Link to comment Share on other sites More sharing options...
donalde Posted January 26, 2012 Report Share Posted January 26, 2012 I know it's been talked about pretty extensively but I am hoping some one can also provide a clearer picture. I have accepted at an American DO school and need some major loans to pay tuition/living expenses. Will I be able to get ~250k either from one bank or two with a cosigner?? My parents don't mind co-signing and we both have good credit but I definitely don't want to ask them to put their house up for collateral to act as a second mortgage. Any advice or past experiences is appreciated! Thanks! Link to comment Share on other sites More sharing options...
Mashmetoo Posted January 26, 2012 Report Share Posted January 26, 2012 I know it's been talked about pretty extensively but I am hoping some one can also provide a clearer picture. I have accepted at an American DO school and need some major loans to pay tuition/living expenses. Will I be able to get ~250k either from one bank or two with a cosigner?? My parents don't mind co-signing and we both have good credit but I definitely don't want to ask them to put their house up for collateral to act as a second mortgage. Any advice or past experiences is appreciated! Thanks! Either. You can get 250k from 1 bank, or a combined 250k from two banks. Link to comment Share on other sites More sharing options...
Mashmetoo Posted January 26, 2012 Report Share Posted January 26, 2012 when we are getting LOC.. are we getting the LOC. as in is it under our name or our parents. do parents need to be involved in the LOC matter. cause if not, than we can get 2 Loc that way. It's under your name. But you need a cosigner. Your LOC gets capped at around 250k, so you can potentially get it from multiple banks for a combined LOC of 250k. Your cosigner only cosigns, your cosigner can't get a Med LOC, only you can. You are stuck with ~250k (unless co-signer has collateral, in which case, I've seen a guy get it up to 350k). Link to comment Share on other sites More sharing options...
Dr.Henderson Posted January 27, 2012 Report Share Posted January 27, 2012 Thanks for the info Mashmetoo! The thread at SDN was very helpful. I'll be picking your brain if Canadian schools don't pan out again this year:D Link to comment Share on other sites More sharing options...
keith_015 Posted January 29, 2012 Report Share Posted January 29, 2012 If you talk to someone who actually knows something at a bank to do with the situation, they can do overages about the standard rate as long as you can prove/disclose the estimated costs of attendance. You DO NOT need to go to two banks for separate credit lines. If you comb back a few years for threads about financing, you will see that I was in the process of securing a Medical School LOC of $320k from RBC at the same interest rate offered to CDN students. Of course, the whole amount has to get secured by cosigners (even if it is just the Cdn max). My parents could secure me for the majority portion of it, but had I gone through with going to the US, I would've had to find one additional cosigner to cover the remaining amount. Bottom line, tell your banks you REQUIRE more than the amount offered to students in Canada, due to Immigration/school req's. It will require upstairs approval, but it should be possible. Link to comment Share on other sites More sharing options...
Mourning Cloak Posted January 29, 2012 Report Share Posted January 29, 2012 I was in the process of securing a Medical School LOC of $320k from RBC . . . . My parents could secure me for the majority portion of it . . . Holy freaking cow. And I thought my debt was bad! I bet you your parents are overjoyed you got into Manitoba instead Link to comment Share on other sites More sharing options...
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