Paying for Medical school out of country?

Mar 21st, 2018 6:15 pm

#1

Sl1903 [OP]: Newbie; May 18, 2016; 38 posts; 8 upvotes

Mar 21st, 2018 6:15 pm

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!

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Mar 21st, 2018 6:48 pm

#2

OttawaGardener: Deal Addict; Aug 30, 2011; 3489 posts; 1231 upvotes; Ottawa

Mar 21st, 2018 6:48 pm

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?

Mar 21st, 2018 6:53 pm

#3

Deal Grabber: Deal Addict; Mar 2, 2005; 2032 posts; 333 upvotes

Mar 21st, 2018 6:53 pm

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.

Mar 21st, 2018 7:02 pm

#4

mkl38s: Deal Fanatic; Jan 21, 2014; 6494 posts; 3899 upvotes

Mar 21st, 2018 7:02 pm

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.

Mar 21st, 2018 7:05 pm

#5

iamthebest: Deal Addict; May 15, 2013; 1858 posts; 521 upvotes; Montreal

Mar 21st, 2018 7:05 pm

How much would it cost here in Canada as an international student?

Mar 21st, 2018 7:12 pm

#6

tweep0: Sr. Member; Aug 17, 2006; 514 posts; 316 upvotes; Toronto

Mar 21st, 2018 7:12 pm

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.

Mar 22nd, 2018 5:28 am

#7

Handcake: Member; Jan 17, 2018; 285 posts; 208 upvotes

Mar 22nd, 2018 5:28 am

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.

+1

Mar 24th, 2018 9:35 am

#8

mkl38s: Deal Fanatic; Jan 21, 2014; 6494 posts; 3899 upvotes

Mar 24th, 2018 9:35 am

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

Mar 24th, 2018 9:42 am

#9

Sanyo: Deal Guru; Feb 9, 2009; 12334 posts; 11149 upvotes

Mar 24th, 2018 9:42 am

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...

+1

Jul 31st, 2018 8:04 pm

#10

bjcheung77: Sr. Member; Jul 29, 2007; 697 posts; 412 upvotes; North America

Jul 31st, 2018 8:04 pm

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!

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