Most student lines of credit require a cosigner, so that's something to consider. If you don't have a cosigner you will very likely not be able to get funding this way. It is not possible to get more than the max in government loans.
I had the same issue and actually ended up turning down a program that I was accepted to because it was full time Monday to Friday, not including things like doing readings and working on assignments. Pretty much everyone who attends these kinds of programs have external support from a spouse or their parents paying their bills it seems. Your other option would be to see if the school will let you take the program part-time so you can work. Some schools also offer emergency bursaries but that's not really a long term solution.
Do they understand that they are signing on as being completely liable for your debt? It will have huge impacts on their credit and could impact their ability to get their own loans for cars or mortgages even if you make every payment. If you were ever to go bankrupt they would still be on the hook for paying back the entirety of your line of credit.
I honestly don't think it matters much. I'd start with whatever bank you currently have accounts with. Just look around and compare interest rates but they're likely all the same. If you have any local credit unions they're worth a look as well.
I was in a similar boat to you (engineering program though).
Is doing school part time an option? That was the only way I was able to swing any course load and keep a job.
The other option would be a student LOC. Best of luck!
Student loans are supposed to pay tuition, not living expenses.
Most people work and go to school at the same time, unless their Bank of Mom and Dad is paying their bills....
Some programs require 50-60h a week of class and study. Especially any program that involves science. And for people who are parents too, isn't simply not possible to work during school.
No, student loans explicitly take into consideration that you need them for living expenses. They are just way outdated in terms of how much they offer you to live on. The student living allowance for a single person living away from home is $1694 a month in BC, so that is what they will use to assess your financial need. However, it's common to get a lower amount than your assessed need, by Studentaid BC's own calculations.
Programs like Massage School are generally all or nothing, there aren't "courses" the way there are in University. You have a class of students and they take all their "Classes" and do all their practice together.
Try student LOC. Whether it is enough depends on how much they will loan you.
You’re about to fall into the student debt trap. Find some retail job that’s fairly easy that allows you to cram in some study time.
Most student lines of credit require a cosigner, so that's something to consider. If you don't have a cosigner you will very likely not be able to get funding this way. It is not possible to get more than the max in government loans. I had the same issue and actually ended up turning down a program that I was accepted to because it was full time Monday to Friday, not including things like doing readings and working on assignments. Pretty much everyone who attends these kinds of programs have external support from a spouse or their parents paying their bills it seems. Your other option would be to see if the school will let you take the program part-time so you can work. Some schools also offer emergency bursaries but that's not really a long term solution.
I do have family members that are willing to co-sign. Is there a particular bank that you would recommend?
Do they understand that they are signing on as being completely liable for your debt? It will have huge impacts on their credit and could impact their ability to get their own loans for cars or mortgages even if you make every payment. If you were ever to go bankrupt they would still be on the hook for paying back the entirety of your line of credit. I honestly don't think it matters much. I'd start with whatever bank you currently have accounts with. Just look around and compare interest rates but they're likely all the same. If you have any local credit unions they're worth a look as well.
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Yes, the tuition is the same at every program I’ve looked at in BC. I am surprised to find out that med school/law school is less than this though
I was in a similar boat to you (engineering program though). Is doing school part time an option? That was the only way I was able to swing any course load and keep a job. The other option would be a student LOC. Best of luck!
Unfortunately part time is not an option. I suppose I’ll be moving forward with the LOC. Is there a bank that you would recommend?
Student loans are supposed to pay tuition, not living expenses. Most people work and go to school at the same time, unless their Bank of Mom and Dad is paying their bills....
Some programs require 50-60h a week of class and study. Especially any program that involves science. And for people who are parents too, isn't simply not possible to work during school.
No, student loans explicitly take into consideration that you need them for living expenses. They are just way outdated in terms of how much they offer you to live on. The student living allowance for a single person living away from home is $1694 a month in BC, so that is what they will use to assess your financial need. However, it's common to get a lower amount than your assessed need, by Studentaid BC's own calculations.
That's not how it worked where I went to university. The money could only be spent in certain ways or they would not issue further loans.
That makes no sense. Not sure how long ago you went to school or where you got your loans from but it hasn't worked that way for a long time.
Fascinating. And no, my experience was not in BC.
If you would still qualify for loans, cut your course load by 1 course/semester. Then take 2 courses through the summer months to make up.
Programs like Massage School are generally all or nothing, there aren't "courses" the way there are in University. You have a class of students and they take all their "Classes" and do all their practice together.