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#26 Bure10

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Posted 14 May 2013 - 08:17 AM

I've noticed on kijiji that places outside of town give you a lot more bang for your buck (I'm a family man and need more than one bedroom). I don't know the area very well so it's hard to know if that commute would be a viable option. And I usually don't mind driving - especially if I'm going to be at the school all day anyway. Anyone have any thoughts or insights on this? Thanks.

 

You would have to define outside of town.  I know quite a few people live in the Sun Rivers area which is a bit further but they commute without issues every day.  I don't see it being a problem - traffic isn't bad in Kamloops from the times I have driven around by myself or with others.



#27 Spilly

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Posted 15 May 2013 - 03:34 PM

Does anyone think it will be a big deal to miss two days of class in early October? It will be a Friday and a Monday... on top of starting law school, I'm throwing my wedding into the mix this fall.


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#28 Bure10

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Posted 15 May 2013 - 04:31 PM

Does anyone think it will be a big deal to miss two days of class in early October? It will be a Friday and a Monday... on top of starting law school, I'm throwing my wedding into the mix this fall.

 

Not at all.  I'm of the school of thought that reading is more important than class.  Even if you swing the other way and really value class time someone will fill you in and give you notes, specially for your wedding.



#29 *Ari*

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Posted 15 May 2013 - 05:09 PM

Adding onto what Bure said, the CANs on our database, usually have lecture notes filled in with detail. You likely aren't missing much.



#30 Spilly

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Posted 15 May 2013 - 06:14 PM

Thanks very much for the intel. In undergrad (many moons ago...) I was seldom found in class but nevertheless a strong performer. Glad to hear that this strategy should be compatible with law school as well.

#31 Ptolemy

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Posted 15 May 2013 - 06:42 PM

Thanks very much for the intel. In undergrad (many moons ago...) I was seldom found in class but nevertheless a strong performer. Glad to hear that this strategy should be compatible with law school as well.

 

No, this strategy is generally not compatible with law school. 


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#32 *Ari*

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Posted 15 May 2013 - 09:43 PM

I agree. Occasionally missing a lecture due to other commitments is vastly different than skipping a majority of lecture. It is often helpful for fleshing out confusing points, and they seem to give tips that the cases themselves don't.

 

For instance, as pertains to common mistake, it's unclear whether the equitable remedy has been done away with or not. A case itself likely won't explain this from the excerpt, but the professor in class mentions it.


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#33 Bure10

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Posted 16 May 2013 - 07:29 AM

No, this strategy is generally not compatible with law school. 

 

 

I agree. Occasionally missing a lecture due to other commitments is vastly different than skipping a majority of lecture. It is often helpful for fleshing out confusing points, and they seem to give tips that the cases themselves don't.

 

For instance, as pertains to common mistake, it's unclear whether the equitable remedy has been done away with or not. A case itself likely won't explain this from the excerpt, but the professor in class mentions it.

 

Obviously I disagree everyone learns differently and most people don't make good use of class time anyways (Myself included) if you are going to be dicking around in class for 1.5 or 3 hours you are better served reading at home and working on you own CAN's.  You won't gain information by osmosis just by sitting there.  I agree with Ari to an extent there might be nuances that you would not pick up from a case or what not. 

 

My grades in first and second year did not correlate well with attendence my highest mark ever in law school is in a class I skipped most of the time and my lowest marks we're in classes I went to the most.

 

Find out what works for you and what doesn't and really decide for yourself, the first set of exams probably wont count towards your final grade anyways.  They are traditionally at TRU help not hurt.


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#34 Mal

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Posted 16 May 2013 - 07:58 AM

Not going to class hamstrings your ability to get an exceptional grade. An appreciation and mirroring of your professors understanding of problems is vital to proving a complete understanding. When you are talking about getting a B or a B+ it doesn't matter, you can learn from the book, but once you are actually an exceptional student then you need to go to class, there is a huge amount of value there.


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#35 Spilly

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Posted 16 May 2013 - 06:12 PM

All good points. I am just relieved to hear that I will be able to attend and enjoy my wedding and peripheral activities without fear of academic implosion!

#36 c_hepting

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Posted 16 May 2013 - 06:46 PM

I genuinely cannot believe that whether or not you should attend class is actually being discussed!!!  You got accepted into law school, you're going to pay some serious tuition, get the most out of it - GO TO CLASS!!!  If you need a day off here or there, you should seriously consider whether or not you REALLY need that day off (getting married, mind you, is a very good reason).  Getting other student's notes is good, but not as good as actually being there yourself.  This isn't undergrad - as was stated, occasionally missing a lecture isn't going to kill you, but think about it before you just miss class (like I said, Spilly, your reason of getting married is a good one).



#37 stuckinpurgatory

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Posted 17 May 2013 - 11:49 AM

Does TRU have a clinical experience program? And if so is it 1L, 2L, etc. Thanks!



#38 Stark

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Posted 17 May 2013 - 11:52 AM

Does TRU have a clinical experience program? And if so is it 1L, 2L, etc. Thanks!

 

Not yet but I know a couple of profs have been discussing setting something up so we'll see where that goes.  


Edited by Stark, 17 May 2013 - 11:53 AM.


#39 stuckinpurgatory

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Posted 17 May 2013 - 12:04 PM

Thanks Stark, what about other student services? Is advising competent and separate from the rest of TRU? Do you have opportunities to mingle with local firms or those from out or town?

 

I've talked to as many lawyers as I can and many say that it isn't where you go to school, but whether/where you get an articling position. I know this won't happen for the first TRU grads until next June, but what has the school done to ensure you guys reach that next step?



#40 Stark

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Posted 17 May 2013 - 12:56 PM

Thanks Stark, what about other student services? Is advising competent and separate from the rest of TRU? Do you have opportunities to mingle with local firms or those from out or town?

 

I've talked to as many lawyers as I can and many say that it isn't where you go to school, but whether/where you get an articling position. I know this won't happen for the first TRU grads until next June, but what has the school done to ensure you guys reach that next step?

 

It truly is what you make of it.  There are tons of events with the Kamloops bar and everyone is super friendly.  There are also a lot of CBA events in Kamloops, the interior and Vancouver if you choose to attend.  There were neat events like Judge and Master's shadowing as well as conferences with the BC bar in Vancouver not to mention all the local events.  

 

I would definitely suggest attending every event you can.  A lot of people won't go because of school work, but I think you should always try making time to attend those things and then the rest is on you.  



#41 cdub

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Posted 17 May 2013 - 05:38 PM

Not yet but I know a couple of profs have been discussing setting something up so we'll see where that goes.  


They are working on it, and it will happen eventually... but don't count on it happening within your time at TRU (at least for the current class). 
 



#42 Kdodgeball

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Posted 21 May 2013 - 10:31 AM

I wanted to toss in my opinion on housing choices for going to law school. While the active posters here prefer residence, the majority of people don't.

I rented a room in a house in lower sahali in 1L, about a 10 minute bike ride from door to door with 3 other guys my age. It worked out really well and I'm going to look for a similar location again for 3L. I paid $550 per month and it included all utilities and Internet/tv.

In 2L I rented a 2 bedroom walk-out in upper sahali for $1050 per month plus about $50/month utilities. I decided not to find a roommate, but there was more than enough room. This spot was about a 10 minute drive door to door.

I'm letting you know this as evidence that if you don't mind living with someone, you can live in a nice place for less than residence that is still close.

I strongly recommend that if you plan to participate and get involved, that you try to live as close to the school as possible. Your first search should be in lower sahali. It's wonderful to be able to quickly run back to your pad for an hour nap in between classes if you are hungover.

I also have some loan advice for a poster above. First you should realize that for a professional student line of credit (LoC), you do not pay interest on any money available that is not used. It's like a credit card, so you only pay interest of money you withdraw. Generally the strategy is to apply for government student loans first, and then apply for the LoC at a bank of your choice. Because the government loans take a while to be processed, you will have your loc available to you before you even know how much the government is loaning you.

You will want to spend your government loans first each year, and then dip into your loc as necessary. The government loans allow you to not pay interest while in school and also does not make you pay back the full amount. So when entering law school, you will have between 10-20k per year of government funding and an 80-100k LoC. Since you will need the government money for tuition and the loc for living expenses, you don't want to find yourself short. Better to get access to as many funds as you can, and just spend what you need.

As far as bank recommendations, I had a good experience with Scotiabank. I managed to get a prime + 0.5 100k loc that doesn't convert into a higher interest rate personal loan after school.

Edited by Kdodgeball, 21 May 2013 - 10:44 AM.

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#43 stuckinpurgatory

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Posted 21 May 2013 - 10:37 AM

I wanted to toss in my opinion on housing choices for going to law school. While the active posters here prefer residence, the majority of people don't.

I rented a room in a house in lower sahali in 1L, about a 10 minute bike ride from door to door with 3 other guys my age. It worked out really well and I'm going to look for a similar location again for 3L. I paid $550 per month and it included all utilities and Internet/tv.

In 2L I rented a 2 bedroom walk-out in upper sahali for $1050 per month plus about $50/month utilities. I decided not to find a roommate, but there was more than enough room. This spot was about a 10 minute drive door to door...

 

Thanks KDodge that was really helpful, especially the loan part. Finances are always intimidating so any information about others' experiences is always great!



#44 Kdodgeball

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Posted 21 May 2013 - 10:41 AM

Forgive the typos and crummy grammar, I'm on my phone chilling in court and waiting for my turn.

#45 ERMAGERD

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Posted 21 May 2013 - 11:07 AM

I wanted to toss in my opinion on housing choices for going to law school. While the active posters here prefer residence, the majority of people don't.

I rented a room in a house in lower sahali in 1L, about a 10 minute bike ride from door to door with 3 other guys my age. It worked out really well and I'm going to look for a similar location again for 3L. I paid $550 per month and it included all utilities and Internet/tv.

In 2L I rented a 2 bedroom walk-out in upper sahali for $1050 per month plus about $50/month utilities. I decided not to find a roommate, but there was more than enough room. This spot was about a 10 minute drive door to door.

I'm letting you know this as evidence that if you don't mind living with someone, you can live in a nice place for less than residence that is still close.

I strongly recommend that if you plan to participate and get involved, that you try to live as close to the school as possible. Your first search should be in lower sahali. It's wonderful to be able to quickly run back to your pad for an hour nap in between classes if you are hungover.

I also have some loan advice for a poster above. First you should realize that for a professional student line of credit (LoC), you do not pay interest on any money available that is not used. It's like a credit card, so you only pay interest of money you withdraw. Generally the strategy is to apply for government student loans first, and then apply for the LoC at a bank of your choice. Because the government loans take a while to be processed, you will have your loc available to you before you even know how much the government is loaning you.

You will want to spend your government loans first each year, and then dip into your loc as necessary. The government loans allow you to not pay interest while in school and also does not make you pay back the full amount. So when entering law school, you will have between 10-20k per year of government funding and an 80-100k LoC. Since you will need the government money for tuition and the loc for living expenses, you don't want to find yourself short. Better to get access to as many funds as you can, and just spend what you need.

As far as bank recommendations, I had a good experience with Scotiabank. I managed to get a prime + 0.5 100k loc that doesn't convert into a higher interest rate personal loan after school.

 

Thnaks, this was very helpful.  Where did you apply for your Scotia LOC, was it in Kamloops?   From what I understand, getting a good set up means you have to speak to the right person at the bank.  The housing advice was also handy, is it worth living down town do you think?



#46 Kdodgeball

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Posted 21 May 2013 - 12:11 PM

I got my loc at the scotiabank in Calgary. What you want to do is call them as set up a meeting with a small business loans person. They are almost always the ones who also do the professional student line of credits. If you don't like the person or you don't think they are giving you the best deal (they have some discretion on the rates), just get a new advisor.

As for housing, downtown definitely has its perks. Although its "downtown," it's still on the same side of the river as the university and maybe a 10 minute drive. It's within walking distance to the pubs and bars. If recommend that if you aren't living close to the university, downtown would be your next pick. Someone mentioned earlier about Sun Rivers. Although its a ways away, there is easy access to the highway which lets you skip around town, getting to the university in about 15 minutes. It's still a bit of a distance away, but the condos are a little nicer than the rest of Kamloops.

#47 mario_c

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Posted 23 May 2013 - 08:13 AM

I also have some loan advice for a poster above. First you should realize that for a professional student line of credit (LoC), you do not pay interest on any money available that is not used. It's like a credit card, so you only pay interest of money you withdraw. Generally the strategy is to apply for government student loans first, and then apply for the LoC at a bank of your choice. Because the government loans take a while to be processed, you will have your loc available to you before you even know how much the government is loaning you.

You will want to spend your government loans first each year, and then dip into your loc as necessary. The government loans allow you to not pay interest while in school and also does not make you pay back the full amount. So when entering law school, you will have between 10-20k per year of government funding and an 80-100k LoC. Since you will need the government money for tuition and the loc for living expenses, you don't want to find yourself short. Better to get access to as many funds as you can, and just spend what you need.

As far as bank recommendations, I had a good experience with Scotiabank. I managed to get a prime + 0.5 100k loc that doesn't convert into a higher interest rate personal loan after school.

 

 

I got my loc at the scotiabank in Calgary. What you want to do is call them as set up a meeting with a small business loans person. They are almost always the ones who also do the professional student line of credits. If you don't like the person or you don't think they are giving you the best deal (they have some discretion on the rates), just get a new advisor.

 

As someone who is currently working at a bank and most effectively trying to secure funds for law school that provides me the lowest borrowing cost and overall debt, I would like to point out that Kdodgeball's advice and observations are spot on. With the understanding that there are a lot of us who will require funding for OSAP and beyond, I will elaborate further to provide some foundational understanding of the system in an effort to provide others with some ground for bargaining.

 

Right now interest rates for mortgages, HELOC's (Home Equity Lines of Credit), professional student loans and other credit lines, are between prime and prime + 1. Prime currently sits at 3%. Law students currently will be offered a rate of prime + 1. For you to receive a rate of prime + 0.5 or lower the financial adviser or financial services rep will have to sacrifice some sales revenue. Some will do this for you SO TRY. Sales revenue earned by a financial adviser is like profit earned over cost by a car sales person for the sale of a car. The more over cost or the more over the standard interest rate you make the sale for, the more points or "sales revenue" one will earn and in turn more opportunities and bonuses he/she is faced with at the bank. Unlike car lots, however, banks have ethical restrictions on interest rates. Interest rates on services like credit cards and over draft protection are on average much higher, floating around and above 20%. So do not use overdraft credit on your bank account, who's interest rate is at roughly 22%, when you are a law student who can be approved for a line of credit that is between 3 and 4 percent. Same applies to cash advances on your credit card: as a professional student, avoid them.

 

TD is currently offering a professional student line of credit for prime + 1 for up to $50,000. Joint JD and MBA has an interest rate of prime + 0.5.

Scotiabank is offering prime + 1 as well; however, the amount of funds they offer is double: $100,000.

 

OSAP for someone without a dependent is maxed at $360 per week of study or $12,800 per study year. The calculation for the amount OSAP will offer you is based on investments you hold, debt, whether you have someone, such as a parent, providing for you, etc.Some of it will be calculated as a grant (BONUS). OSAP for someone who is providing for a dependent is capped at just over $500 per study week.

 

Kdodgeball is correct in regards to the stratagem undertaken to secure finances, assuming one logically would like to save money. Start with applying for OSAP (or your provincial government student assistance program) because it takes quite some time for the process to be completed. The professional student line of credit will only take one trip and at most ten business days to be available to you, assuming you bring in all the relevant documentation such as ID, proof of enrollment, information on all current liabilities and assets.

 

Exhaust OSAP before a line of credit because the line of credit accrues interest immediately and is compounded monthly based on the annual interest rate you agreed on. Compounded monthly meaning interest is added to the amount owing on your line of credit monthly and in turn increasing the interest owed. So an interest rate of prime will garner your line of credit with .25% of interest every month.OSAP does not start tacking on interest until after you graduate and if you do not secure a paying job you can apply for repayment assistance which will cover all the interest until you are working and no longer eligible for repayment assistance. The line of credit does not have to be used, as was previously mentioned. Even if you do not think you will dip into it, secure one anyways (unless you are irrational regarding your finances and tempted to spend it). If it does not get used, it just sits there for a just in case scenario.


Edited by mario_c, 23 May 2013 - 08:15 AM.

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#48 DarKnight

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Posted 23 May 2013 - 08:30 AM

TD is currently offering a professional student line of credit for prime + 1 for up to $50,000. Joint JD and MBA has an interest rate of prime + 0.5.

Scotiabank is offering prime + 1 as well; however, the amount of funds they offer is double: $100,000.

 

TD is offering up to $80 000 for law students. I went in last week to speak with them. Still not as good as Scotia, but not as bad as you make out.



#49 aater0804

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Posted 23 May 2013 - 10:36 AM

Hey Mario--very informative post.

Just wondering, do Scotia and TD require a co-signer for this?

Thanks in advance.

 

As someone who is currently working at a bank and most effectively trying to secure funds for law school that provides me the lowest borrowing cost and overall debt, I would like to point out that Kdodgeball's advice and observations are spot on. With the understanding that there are a lot of us who will require funding for OSAP and beyond, I will elaborate further to provide some foundational understanding of the system in an effort to provide others with some ground for bargaining.

 

Right now interest rates for mortgages, HELOC's (Home Equity Lines of Credit), professional student loans and other credit lines, are between prime and prime + 1. Prime currently sits at 3%. Law students currently will be offered a rate of prime + 1. For you to receive a rate of prime + 0.5 or lower the financial adviser or financial services rep will have to sacrifice some sales revenue. Some will do this for you SO TRY. Sales revenue earned by a financial adviser is like profit earned over cost by a car sales person for the sale of a car. The more over cost or the more over the standard interest rate you make the sale for, the more points or "sales revenue" one will earn and in turn more opportunities and bonuses he/she is faced with at the bank. Unlike car lots, however, banks have ethical restrictions on interest rates. Interest rates on services like credit cards and over draft protection are on average much higher, floating around and above 20%. So do not use overdraft credit on your bank account, who's interest rate is at roughly 22%, when you are a law student who can be approved for a line of credit that is between 3 and 4 percent. Same applies to cash advances on your credit card: as a professional student, avoid them.

 

TD is currently offering a professional student line of credit for prime + 1 for up to $50,000. Joint JD and MBA has an interest rate of prime + 0.5.

Scotiabank is offering prime + 1 as well; however, the amount of funds they offer is double: $100,000.

 

OSAP for someone without a dependent is maxed at $360 per week of study or $12,800 per study year. The calculation for the amount OSAP will offer you is based on investments you hold, debt, whether you have someone, such as a parent, providing for you, etc.Some of it will be calculated as a grant (BONUS). OSAP for someone who is providing for a dependent is capped at just over $500 per study week.

 

Kdodgeball is correct in regards to the stratagem undertaken to secure finances, assuming one logically would like to save money. Start with applying for OSAP (or your provincial government student assistance program) because it takes quite some time for the process to be completed. The professional student line of credit will only take one trip and at most ten business days to be available to you, assuming you bring in all the relevant documentation such as ID, proof of enrollment, information on all current liabilities and assets.

 

Exhaust OSAP before a line of credit because the line of credit accrues interest immediately and is compounded monthly based on the annual interest rate you agreed on. Compounded monthly meaning interest is added to the amount owing on your line of credit monthly and in turn increasing the interest owed. So an interest rate of prime will garner your line of credit with .25% of interest every month.OSAP does not start tacking on interest until after you graduate and if you do not secure a paying job you can apply for repayment assistance which will cover all the interest until you are working and no longer eligible for repayment assistance. The line of credit does not have to be used, as was previously mentioned. Even if you do not think you will dip into it, secure one anyways (unless you are irrational regarding your finances and tempted to spend it). If it does not get used, it just sits there for a just in case scenario.



#50 mario_c

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Posted 23 May 2013 - 01:15 PM

TD is offering up to $80 000 for law students. I went in last week to speak with them. Still not as good as Scotia, but not as bad as you make out.

 

I should have clarified that those numbers are what TD and Scotiabank offered me. I also did believe that what they were offering me was the maximum but apparently that is not the case.