anyone get LOC trouble with undergrad debt?

[omgwut123]

so the standard seems to be 200k for med/dent students.

 

do they lower it/ not approve you if you have student loan from u-grad?

 

thanks for sharing

[PhoenixFlare500]

You can have student loans with an LOC and the amount you can get/use is assessed independently. If you're a med student, the only way you're not going to get approved for an LOC is probably if you already had one and wasted it away, and declared bankruptcy to avoid paying it off. Like, you'd have to really screw up.

[BigM]

so the standard seems to be 200k for med/dent students.

 

do they lower it/ not approve you if you have student loan from u-grad?

 

thanks for sharing

 

If you are going to a Canadian medical school you will not be turned away because of undergrad debt. However, if you have a line of credit from undergrad they may subtract it from the total they budget you. I.e. if you owe $20,000 on a line of credit they may only give you $180,000 on your new line of credit, or they would offer to pay out the $20,000 using your new line of credit (so $20,000 of $200,000 would be used). If all the debt that you owe from undergrad is OSAP then it will not affect anything.