Financing: Initiating contact with the banker

After receiving the acceptance to the program I immediately e-mailed the contact at the bank to start getting details about financing. The banker called today at lunch! Yikes, that was fast. They can't wait to chain me to a loan? Just kidding, it's all good. The banker was very friendly and based out of Kingston. They mentioned that about 60% of the students used their services out of Kingston and to date there had been no issues. I will probably just go with the banker based out of Kingston and do things via e-mail and post.

So we discussed what I wanted to set up and what I needed for finances. Apparently Queen's will cover the interest on a line of credit for tuition plus "X" dollars and the interest rate is great too. The remainder of my financial needs will have to be covered by an additional line of credit that I will have to cover. Since I have no real assest I will probably need someone to bond me. That will probably be a parent.

Afterwards I will be able to negotiate the debt into some kind of lump sum financing deal for repayment. Like a mortage, except my brain will be the assest on the line instead of a house...lol.

Anyway, the banker will get back to me in a few days with the required paperwork to fill out. Nice to get this ball rolling since it means someone else will help me with getting the necessary stuff done.