Students

Paying for Medical school out of country?

[OP]
Newbie
May 18, 2016
31 posts
2 upvotes

Paying for Medical school out of country?

My fiance is going to medical school in the Caribbean this coming September. Her tuition is 150,000 USD for the total 4 years. What is the best way to get an out of country loan? She does not have a credit score but I or her parents are willing to co-sign and we both have great scores.

Thank you in advance!
9 replies
Deal Addict
Aug 30, 2011
3457 posts
1215 upvotes
Ottawa
I don't have an answer to your question, but am curious about where she can work after getting her medical degree. Does Canada accept foreign MDs?
Deal Addict
Mar 2, 2005
2032 posts
331 upvotes
OttawaGardener wrote: I don't have an answer to your question, but am curious about where she can work after getting her medical degree. Does Canada accept foreign MDs?
Short answer from most places is no. Its not Canada but the medical council.

As for the loan, best to talk to FI and inquire about it IMO.
Deal Fanatic
Jan 21, 2014
5059 posts
2683 upvotes
OttawaGardener wrote: I don't have an answer to your question, but am curious about where she can work after getting her medical degree. Does Canada accept foreign MDs?
yes there is a chance she can get back as I knew people went to Caribbean medical schools came back to Canada residency, but percentage is very small.
Deal Addict
May 15, 2013
1714 posts
439 upvotes
Montreal
How much would it cost here in Canada as an international student?
Member
Aug 17, 2006
457 posts
204 upvotes
Toronto
It's going to be near impossible to get an out of country loan. You'll have to secure a loan in Canada and will probably need parents / siblings to cosign the loan. It may involve re-mortgaging a home.

Getting back is hard but doable. It depends on the specialty you choose, exam scores, interview skills, and luck.
Member
Jan 17, 2018
276 posts
192 upvotes
I did my master's in the US and I had to have my parents co-sign the bank loan. The amount they will give you is limited though. I think it was like $15000 or $20000 a year at TD for a line of credit for education.

They told me if I was going to a law school or medical/dental school in Canada though my parents didn't need to co-sign and the limits were insane.
Deal Fanatic
Jan 21, 2014
5059 posts
2683 upvotes
Handcake wrote: They told me if I was going to a law school or medical/dental school in Canada though my parents didn't need to co-sign and the limits were insane.
Correct. $275K @ prime and no co-sign
Deal Fanatic
Feb 9, 2009
9328 posts
6938 upvotes
Yikes... dont marry her until she's done her degree... you dont have that loan on your head if all goes bad with the relationship...
Sr. Member
User avatar
Jul 29, 2007
642 posts
346 upvotes
North America
So, how did this go? Which school is it... that your fiance is going to be attending?
There are 4 popular ones but 2 are eligible for residency in Canada/USA hospitals.
Thank you RFD community for helping me with spending money, I feel so poor now!

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