LOCs for 3-year MD programs

[ADH]

When I met with BMO, they said that their LOC is constructed for a 4-year MD program, so they would need to customize/adjust it for the 3-year program at Mac. Has anyone received this type of customized LOC? Since tuition at Mac is more per year than the other Ontario schools (plus you don't have summers to work), I imagine they would increase the yearly maximum relative to the LOC for a 4-year program; what do you think is a reasonable increase?

 

Thanks!

[osteogeek]

I saw a post from last year's LOC thread that Scotia was adjusting their LOC for a Mac student - instead of a max of $200,000 at $50,000/year, the student was going to get $200,000 at $66,000/year, which seems fair to me. I haven't started contacting banks yet about it, but if Scotia is still offering that plan this year that will likely be what I go with.

[nontrad2013]

I can confirm that Scotiabank still does things this way for 3-year programs. Just arranged my LoC for Mac with them.

 

 

 

I saw a post from last year's LOC thread that Scotia was adjusting their LOC for a Mac student - instead of a max of $200,000 at $50,000/year, the student was going to get $200,000 at $66,000/year, which seems fair to me. I haven't started contacting banks yet about it, but if Scotia is still offering that plan this year that will likely be what I go with.

[ADH]

^Thanks for the information. Has anyone had experience in arranging LOCs with banks other than Scotia for Mac (or Calgary)? I am meeting with CIBC today; I will post their LOC offer for a 3-year program, but I think I will probably end up going with Scotia.