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Has anyone taken out a professional line of credit? Due to the high living cost of attending UBC, I think I might have to but am a bit overwhelmed by the options and what to ask. 

If anyone has any advice or recommendations, please pass them on! Feel free to DM if you prefer to keep it private. 

 

Thanks

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I had a meeting with the rep from Scotiabank, and she was very nice. I recommend you email her and set up a meeting. I'll be making my application later this month. I'll PM you her contact.

 

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I went with BNS as well - very happy with it.

Came in very handy back in the day when I was purchasing my practice.

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4 hours ago, Aschenbach said:

I had a meeting with the rep from Scotiabank, and she was very nice. I recommend you email her and set up a meeting. I'll be making my application later this month. I'll PM you her contact.

 

Would you mind sending this my way as well? I've been reading into a few of them and I'm leaning toward Scotiabank for sure.

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Another Scotiabank LOC user, I was approved last week and will be opening accounts this week, albeit for UVic and not for UBC. Your experience may vary depending on the rep, but I got a great package and the entire process consisted of a couple phone conversations, a 1-page application form, and a few emailed documents.

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Attending an Ontario school but live in BC.  Got a great PSLOC from Scotiabank at prime.  And repayment doesn't begin until 2 years after schools over.  Compared with RBC who offered significantly lower amount but also prime.  Some difference in disbursement - Scotiabank releases amounts annually; RBC releases all at the same time (perhaps more dangerous!)  Also got two new credit cards - which I don't really need but they waived the annual fees.

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Just finished up with getting my professional line of credit approved from Scotiabank. 135,000 at prime interest rate. No payments required during school or articling or for an additional 2 years after articling is completed. Also comes with a free AmEx Gold card and Passport Infinite card both of which are amazing for collecting travel points. The Passport infinite card also comes with 6 complimentary entrance to the priority pass airport lounges... lol! And introduction the finer things in life I suppose. From what I understand Scotia’s interest rate and repayment plan is the best available. 

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