lmnprtymn Posted February 16, 2014 Report Share Posted February 16, 2014 How easy/difficult is it to get some sort of funding if you have been accepted somewhere? Are DO schools any harder to obtain funding for? I had understood that most banks will require a cosigner before giving out LOCs for non-Canadian medical schools, but that they do grant exceptions to this. Is this true? If so, would US schools generally fall under these exceptions? Are there other kinds of loans available that I'm also not aware of for attending school in the US? Link to comment Share on other sites More sharing options...
advair250 Posted February 16, 2014 Report Share Posted February 16, 2014 There is no exception to getting a large loan (250k) without a cosigner. Unless you already have a significant amount of savings and some form of personal business. You'll need the 250k bank loan +OSAP + parents with lots of spare money. US schools are expensive. Link to comment Share on other sites More sharing options...
lmnprtymn Posted February 16, 2014 Author Report Share Posted February 16, 2014 There is no exception to getting a large loan (250k) without a cosigner. Unless you already have a significant amount of savings and some form of personal business. You'll need the 250k bank loan +OSAP + parents with lots of spare money. US schools are expensive. Thanks. I guess I'll need to check this with individual banks, but would you know if you can obtain multiple LOCs, by any chance? Either from the same or different banks. I assume this would then require multiple cosigners? Link to comment Share on other sites More sharing options...
lazyboy Posted February 17, 2014 Report Share Posted February 17, 2014 Your LOC, if any, will be registered with the credit bureau. Whoever you try to get additional loan from will know that, so it gets harder... Yes, going to US is expensive, the only alternative is some of the medical schools in US will provide loan once you get accepted, but at a 6 or 7 percent interest rate. Some other people in this forum are able to get loan/grant from a good Samaritan in return for some kind of service down the road. I would suggest you search this forum for additional info ( I don't have it, just remember seeing it). I guess the first thing to do is to get accepted and see whether there are some doors open for you after that. Talk to your network of people around you. Good luck Link to comment Share on other sites More sharing options...
rmorelan Posted February 17, 2014 Report Share Posted February 17, 2014 Your LOC, if any, will be registered with the credit bureau. Whoever you try to get additional loan from will know that, so it gets harder... Yes, going to US is expensive, the only alternative is some of the medical schools in US will provide loan once you get accepted, but at a 6 or 7 percent interest rate. Some other people in this forum are able to get loan/grant from a good Samaritan in return for some kind of service down the road. I would suggest you search this forum for additional info ( I don't have it, just remember seeing it). I guess the first thing to do is to get accepted and see whether there are some doors open for you after that. Talk to your network of people around you. Good luck Yeah, as you would expect the banks centralize everything - they do this for standard med student loans in Canada as well. They check yearly. You cannot cheat and get multiple LOCs to sum greater than the maximum amount. Best to get a co-signer if you can (not always easy of course) Link to comment Share on other sites More sharing options...
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