Canadian financial aid options

[ouchitburns]

sans parental support (in terms of putting the house up as security), RBC is royally unhelpful. ~$30,000 max after deduction of current student loans. Even after name dropping with the best of them.

hmph. need new options.

[cantmakeupmymind]

would it be possible to use multiple sources? you take a loan just in your name, your parents can co-sign on one with you, and then also do CanHelp?

Have you tried BMO and Scotia? I seriously wouldn't recommend TD.

[FunkyzeitmitBruno]

would it be possible to use multiple sources? you take a loan just in your name, your parents can co-sign on one with you, and then also do CanHelp?

Have you tried BMO and Scotia? I seriously wouldn't recommend TD.

Why not TD? My parents have a long and excellent history with TD, so when I was talking to them about taking out a loan, they seemed pretty confident they could negotiate something.

Also to ouch: Did you just do an online application or did you actually schedule an appointment, try to convince them of NYU's job placement and salary numbers, etc. Do you think with parents cosigning and putting up collateral, along with no previous student debts, the RBC would be more generous?

[Astro]

sans parental support (in terms of putting the house up as security), RBC is royally unhelpful. ~$30,000 max after deduction of current student loans. Even after name dropping with the best of them.

hmph. need new options.

Dude.  Was all that WITHOUT a cosigner?  As in, completely?

[ouchitburns]

I applied for ~$150,000 (what I would probably need!) over the phone attempting to convince them of NYU's job placement and that was rejected. The man who phoned me suggested that I would be much more likely to get the $55,000 which, minus my student debt, would come to ~$30,000. This is, as far as I am aware (having not actually gotten the loan), based on no cosigner. He also suggested that I could try and get a cosigner and reapply for the larger amount, but I am loathe to do this.

I could do multiple loaners. I wonder if banks have anyway of checking this.

[Lil Orphan Annie]

I applied for ~$150,000 (what I would probably need!) over the phone attempting to convince them of NYU's job placement and that was rejected. The man who phoned me suggested that I would be much more likely to get the $55,000 which, minus my student debt, would come to ~$30,000. This is, as far as I am aware (having not actually gotten the loan), based on no cosigner. He also suggested that I could try and get a cosigner and reapply for the larger amount, but I am loathe to do this.

I could do multiple loaners. I wonder if banks have anyway of checking this.

I believe a lot of banks ask you how much money you have in outstanding loans, so getting another loan beforehand would count (as long as you've signed the papers).  I'm not sure if they actually -check up- on it, but I suppose it would make your life easier if you told the truth.  That said, seeing an outstanding loan amount might make the banks hesitate to lend you any more money. This is why, in the process of having BMO um and ah over whether they should lend me that 60,000 I requested, I started applying to another loan, whose application form wanted me to state how much money I had in outstanding loans.  I figured if I applied at the same time to two different banks, technically I wouldn't be lying when I left the outstanding loan balance at 0.  Anyway, BMO relented and I retracted my other application, but if you don't have a cosigner, I'm pretty sure you will have to apply to multiple banks to get the loan you need.

[ouchitburns]

I like telling the truth. I ostensibly enjoy technicalities, but they can so quickly backfire. Really I would prefer that the banks realise that some law schools offer prospects, at least financially, similar to medical schools. Maybe NYU will have some good ideas ...

[Astro]

ouch:

Do you have some sort of magical credit history that would've played into the RBC offer?  $30K would be a huge boost to the applications process for me, and if I can get that without a cosigner and I don't need twenty years of amazing credit, I'm certainly very interested. 

Also, LOA, your parents were involved in your loan application, right?

[ouchitburns]

hey MotO (good acronym)!,

like I said, the man who rejected the big loan suggested that the smaller loan would be more likely - they have a professional student loan program that maxes at $55,000 for law students - but I decided not to apply right then because, frankly, it just ain't enough at the moment.

So, it was suggested that I would got it, but I have not yet gotten it, and I have been applying without any hope of parental support.

[nerfco]

If you do contact NYU's financial office to see if they have any programs in place, please update the thread with their response. I'm not in at NYU, but hopefully someday I will be.

Neither of the schools I have asked (Chi, Va) have had any sort of financial aid for Canadians, aside from the normal merit scholarships. But perhaps the higher rated schools do? I'm unsure.