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  1. #1
    jevjh is offline Junior Member 510 points
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    RBC - Loan for Canadians

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    Well, I'm finally approved for RBC loans... although I had to use my dad as co-signer. I have applied using 1-800 number, and it was very smooth.

    Can't wait to see ya'll on sept!!

  2. #2
    Jemm07's Avatar
    Jemm07 is offline Newbie 510 points
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    hey , how early did u apply for ur loan?
    Last edited by Jemm07; 10-25-2007 at 07:36 PM.

  3. #3
    harsy is offline Member 510 points
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    Quote Originally Posted by Jemm07 View Post
    hey , how early did u apply for ur loan?
    If you have ur application ready,it doesnt take more than a week.infact it can be done in less than 3 days.

    Have your acceptance letter ready
    Make a table of expected expenses.you can use the one they have online and also include other thigns to make it 130000-150,000. The limit is 150,000
    If you feel you dont have a good credit history,bring in a cosigner before they ask you.if they have to tell you this after a couple of days,you wasted that itme.

    Thats all i can say for now.Good luck.

  4. #4
    don1 is offline Moderator 547 points
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    I would suggest applying for your loans as quickly as possible; even 3 or more months in advance. Although the process is easy and straight forward you may encounter problems which takes time to resolve. I had an error on my credit history that took time to resolve; in the end it all worked out but it was because I applied early.

    Also, the school requires you to pay for your first term in advance unless they have information that you are receiving a loan (not sure if all loans qualify for deferring).

    Quote Originally Posted by Jemm07 View Post
    hey , how early did u apply for ur loan?

  5. #5
    Mister is offline Member 510 points
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    i work at a major bank in canada now so if anyone has questions about the process let me know I' ll be happy to answer them.(I am working at the bank while my apps go through)

  6. #6
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    emrbu8 is offline Member 510 points
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    Questions about needing a cosigner

    Hey guys and gals,

    If you opt to get a co signer and/or need one, as a Canadian, does anyone know if they can fall off your application after a certain time? I know there was or is a program that deals with this, either from RBC or whatnot, but I just couldn't recall.

    Cheers.

  7. #7
    don1 is offline Moderator 547 points
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    my understanding is that a cosigner is linked to your application until it is paid off. when you have the ability to get a loan under your own signature you can pay off the loan that you have the cosigner with.

    Quote Originally Posted by emrbu8 View Post
    Hey guys and gals,

    If you opt to get a co signer and/or need one, as a Canadian, does anyone know if they can fall off your application after a certain time? I know there was or is a program that deals with this, either from RBC or whatnot, but I just couldn't recall.

    Cheers.

  8. #8
    Jemm07's Avatar
    Jemm07 is offline Newbie 510 points
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    Thanks guys! Also, is it better to apply for a professional student loan or regular student loan?

  9. #9
    don1 is offline Moderator 547 points
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    professional student loan is the better option since it will allow you to defer repayment longer compared to a student loan; this may be advantagous since you may not be able to make payments right when you begin your residency.

    Quote Originally Posted by Jemm07 View Post
    Thanks guys! Also, is it better to apply for a professional student loan or regular student loan?

  10. #10
    melian's Avatar
    melian is offline Member 510 points
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    Quote Originally Posted by Mister View Post
    i work at a major bank in canada now so if anyone has questions about the process let me know I' ll be happy to answer them.(I am working at the bank while my apps go through)
    Hey I'm Canadian....Was wondering which bank you work for and what options do I have in terms of getting a loan without a cosigner. Would I be able to apply for a loan under my own signature or not? How much would be given for a professional student loan? I am asking because I really am not sure how my financial situation will sit in another couple of months. What do you reccommend I do in terms of research?

    Thanx,
    melian
    "hope lies on the horizon" Hidden Content

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