Student loan.

[aashay12]

Hello,
Has anyone taken out a student loan in Ontario
As a PR. I want to pursue masters in IT/Finance.
I currently live in US will move in few months.
Are there any requirements besides getting an admission
In college. Has anyone with a PR, gone thru this route
Instead of looking for job directly.

Regards

A

 

[next2015]

Hi A,
I haven't gone this route, but I want to suggest to you: do not susbcrisbe to the idea that you must get a loan in order to pay your tuition. If you plan on going to school in the future, work now and save. Do 3 jobs if you must, but stay away from debt. The only debt that makes sense is a mortgage, and only because very few people can afford to pay for a house in cash. My spouse and I studied in the US without a single loan and that's both undergrad and grad school. It is doable! I know from experience... You only need to be willing to sacfrice some comforts.

Please erase the idea from your mind. Our systems have conditioned us to believe we can get what we want when we want so long as we sign on the dotted line. I believe we should live within our means and work hard and smart. If you have to work through the holiday season, so be it! At least you get to go to school debt free and use your pay check to actually change your life for the better, not pay debt for the next 2+ years of your life.

I know I didnt answer your question. I'm sorry. Just needed to put this out to you.

 

[deerestlovelybear]

There is no job in Canada in Finance, competition is fierce, CFA doing teller jobs is not uncommon, spend your money wisely

 

[Nicolas4786]

Hi Aashay,

I`m not sure if Ontario has the same option as in Quebec but here you may apply for a student loan and scholarship at the same time (actually it`s the college who will apply on your behalf). For example if you course costs 7000 CAD, depending on your situation your scholarship maybe more or less the same amount as your student loan. The bank will deposit a certain amount in your account monthly. Then it is up to you whether you want to use that money or save it to repay your student loan later. Note that once you finished your course you have a 6 months time to get a job and start paying for the loan.