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  1. #1
    Pany is offline Newbie 510 points
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    Canadian student line of credit

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    Hi,
    I'm Canadian and looking for student line of credit from a bank.
    Do you know any (Canadian) bank that I'll be able to use the loan without a cosigner?

  2. #2
    coralis's Avatar
    coralis is offline Elite Member 6100 points
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    None of the banks will give you the loan without a co-signor, unless you have property in your name in Canada. It is one of their main requirements for the loans - a co signor - I mean. Flight risk etc.
    MS I/II [x]
    Step 1 [x]
    MS III/IV [x]/[]
    Step 2 CS/CK - [x] / [x]
    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
    http://coralismd.livejournal.com/

  3. #3
    carson56 is offline Junior Member 510 points
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    Some of the CAD banks (RBC for sure.) have given a medical student line of credit without a co-signor after passing Step 1 in the past. I expect that has changed since the credit crunch but forever the optimist.

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    coralis's Avatar
    coralis is offline Elite Member 6100 points
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    Quote Originally Posted by carson56 View Post
    Some of the CAD banks (RBC for sure.) have given a medical student line of credit without a co-signor after passing Step 1 in the past. I expect that has changed since the credit crunch but forever the optimist.
    RBC didn't want to give me a credit line with a co-signor that owned their house fully paid, + my property... mmmfffff.... they were the worst, in second came BMO, TD and NBC were the easiest to deal with.
    MS I/II [x]
    Step 1 [x]
    MS III/IV [x]/[]
    Step 2 CS/CK - [x] / [x]
    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
    http://coralismd.livejournal.com/

  5. #5
    Wh0Kares is offline Elite Member 698 points
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    Quote Originally Posted by coralis View Post
    RBC didn't want to give me a credit line with a co-signor that owned their house fully paid, + my property... mmmfffff.... they were the worst, in second came BMO, TD and NBC were the easiest to deal with.
    strange, RBC went really smooth for me..they approved 150k line of credit within a day..with a co-signer ofcourse...dont think any banks give line of credit without a co-signer anymore..RBC used to years ago but not anymore

  6. #6
    coralis's Avatar
    coralis is offline Elite Member 6100 points
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    Maybe some banks were hit harder than others by the crisis and got really stingy. I did a search on VMD and SDN it seems RBC is the hardest and craziest one
    MS I/II [x]
    Step 1 [x]
    MS III/IV [x]/[]
    Step 2 CS/CK - [x] / [x]
    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
    http://coralismd.livejournal.com/

  7. #7
    CanadaLM is offline Member 510 points
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    Yeah, i tried all the banks also with no luck. If you don't have a co-signer, then no deal.

  8. #8
    EV
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    You will not get a loan without a co-signer, no matter what, if you go to a school outside Canada.
    I have a line of credit with NBC and just got one with RBC a month ago. RBC was very easy, got it approved the next day. They told me point blank that even though my appliction was strong enough on its own (I have good credit and own property), they do not give money without co-signers if your school is located outside the country.

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    12345can is offline Member
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    depends who you talk to...

    there are always exceptions to every rule.

  10. #10
    Pany is offline Newbie 510 points
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    Thanks everyone for replying on this thread.
    I'm meeting someone at the Scotiabank and RBC this week.
    They said they will try to find something for me, and I hope there is something...
    It's just hard because my dad is in Korea, so this co-signer thing is tricky.
    I don't want to give up my dream at the door step because of moneyT^T
    Wish me luck!!

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