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  1. #1
    ashley is offline Junior Member
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    Loans for candians

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    Hey guys,

    i have a question about loans. I got a call from the financial aid office today saying that the max from ed-invest that i could borrow is 35,000 U.S. b/c i'm a canadian citizen, but the total cost of one academic year would be 48,000 U.S. I was just wondering how r the rest of canadians dealing with this. Are you guys applying to other private loans......i was informed that i can't borrow money from can-help or terri if i'm taking it from ed-invest. Does can-help OR other canadian private loans give loans greater than $35,000? If so, how much?

    thankyou very much
    Ashley

  2. #2
    Silenthunder is offline Senior Member
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    re: CANHELP

    Hey ashley,

    I was planning on applying through CANhelp. Their max seems to be $45000 USD per year. I will be applying for them next year (save enough/borrowed enough from friends etc. to pay for this year).

    Cheers,

    Silenthunder

  3. #3
    nabhan007 is offline Member
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    loans

    I'm not sure if things have changed in the last year, but for the CanHelp loans, you need a cosigner to secure the full cost of your tuition, or at least, most of it. That may be easy enough if you have relatives/friends nearby who are willing to sign, but it can be a burden on their future loan applications. The good thing about the EIC loan is that although it tops out at 35k, you can obtain it on your own as long as you have a decent credit rating. If you're a resident of Ontario, you can also get an OSAP loan, although it really won't help much (then again, weak US dollar?). Other provinces probably have similar student loan programs. There's also the International Peace scholarship from SGU, which is relatively easy to apply for and can potentially knock several thousand dollars off your tuition. SGU also administers its own loans, but the repayment terms are less flexible than Teri or EIC, but it may help cover the deficit. That's pretty much all the help I can offer, good luck!

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