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Plausible To Matriculate Into A Usmd Or Usdo School?


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Hi, I've posted my situation here: http://forums.premed101.com/index.php?/topic/95462-need-help-narrowing-down-options/
I received some advice saying I should apply to USMD / USDO schools this cycle. I've always thought it would be a huge financial barrier to matriculate into these schools. I'd have no personal savings, no family contribution and I still have outstanding student loans. The advice I was then given was this: 

 

"By appling MD student LOC in both sides Canada and USA from multi-banks at the SAME TIME (apply TD Canada Trust, RBC, BMO, Citi, Bank of America, TD Bank (USA), etc) sometimes (50% ?) you will approved by two or more banks, which give you $500K+ LoC to finish your 4-years USMD/USDO). Trick is you must apply in the same time before any bank approved your LoC applications, you are in GREY AREA, because technically you didn't lie your financial situation when you submit your applications at the same time, after a few days or weeks later, if you were lucky, two banks approved your LOC applications, just keep it to yourself."

 

I'd just like to get some other opinions on how possible it is to obtain multiple LOCs, how possible it is to matriculate into USMD/USDO considering my situation, and whether or not it'd even be worth it to apply for USMD or USDO. Thanks.

 
 
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It is not a grey area - you would be lying and committing fraud if you took both LOC.  Assuming you do not have dual citizenship, as a Canadian I also do not see how you would get a LOC from a USA bank.

More than a handful of people have done it, and I asked my banker about it (after hearing others do it), and it does seem to be in a grey area at least to their limited knowledge. 

 

I wouldn't recommend it though, sounds too stressful - and what happens down the line if one decides to revoke, or if interest rates skyrocket?

 

That said, if you go through the program without an issue and enter residency right away, it could be perfectly fine. But too risky for my taste.

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