Canadian financial aid options

[Astro]

This is extremely interesting.  You say the downgrade was the student loan option?  I think I may have to drop in at my local RBC branch and talk to someone.  

Sorry to hear about the lack of parental support.  Solidarity!  



Oh, also, there's a recently established loan company that provides non-cosigned loans to international students going to NYU, IIRC.  The program is called Global Student Loan Program.  Google them.  They were mentioned earlier in this thread.

[ouchitburns]

i emailed NYU a few days ago about the GSLP ... waiting on their reply.

my parents are as helpful as can be and would undoubtedly put up their home to help me. But, I am independent now, have been for a while, and don't really want to be concerned that some sort of accident befalling me would, as well as devestating them, put the 'rents in a awkward financial situation. Of course, I guess I could take out accident insurance. Maybe that would alleviate my fears.

Regardless, loans for school need to be based on the school to be attended - I should be able to get loans to cover my tuition.

I will post whatever I find, doing upon others as I would have them do upon me. Is that even in the bible?

[gillesthegreat]

I can confirm that Banque Royale will not go beyond 55,000. I was quoted this as well, and it was explained to me that it's the number they have in their loan manual. That is, they are following the book and cannot deviate; the book says law <55,000.
I do recall asking about the Centura avenue and was told it didn't change the underlying fact. Nor would placement numbers. Their book says that the expected income at graduation is CA$60,000, and screw the facts.

[Astro]

i emailed NYU a few days ago about the GSLP ... waiting on their reply.

my parents are as helpful as can be and would undoubtedly put up their home to help me. But, I am independent now, have been for a while, and don't really want to be concerned that some sort of accident befalling me would, as well as devestating them, put the 'rents in a awkward financial situation. Of course, I guess I could take out accident insurance. Maybe that would alleviate my fears.

Regardless, loans for school need to be based on the school to be attended - I should be able to get loans to cover my tuition.

I will post whatever I find, doing upon others as I would have them do upon me. Is that even in the bible?

I agree about the parents' situation.  Basically the same for me.

[Lil Orphan Annie]

Memories:

Yes, my parents were good about cosigning my loan, so I suppose I'm fortunate in that regard.  Helped me get a larger loan.

For those whose parents won't cosign: why is that, exactly? Do they not support you going into law school? Do they not want to take the risk that being in part of a loan agreement comes with?  I'm just a bit curious to why parental cosigning is out of the question.

[Astro]

They can't?  I mean, that's fairly simple, isn't it?

hahaha

Many reasons.  Poor credit history.  Unable to afford it.  Lack of life savings (can't risk putting up the house as collateral).  Even expecting their kids to stand on their own two feet.  I think all these things are realistic and reasonable.

[ouchitburns]

With regards to the parents: it is my decision to not involve them, for similar reasons as MOTO, with the exception of them expecting me to stand on my own two feet. They would like it but i don't think they expect it.

[nerfco]

I would/will definitely not ask my parents to use their house as collateral just so that I can attend law school in America. I don't doubt that they would, but I do not feel it is fair to them to ask.

I have a few dollars saved up though, so hopefully my debt load will not be too terribly high. So hopefully this won't come up.

[ouchitburns]

well, my search for scholarships should have started months ago. Darn.

I may take a year off and reapply next year - this whole borrowing $180,000 seems to be more difficult than expected. That said, I am heading to NYU for a visit in a few weeks and will try and get more concrete answers there.

[thestradgirl]

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?

So does anyone know whether is this a possible strategy?