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PSLOC

Squeen

By Squeen
in Student Financial Support

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Squeen

Squeen

Posted
  • Applicant
Posted (edited)

Hello everyone, so I plan on applying for loans to cover for my law school costs. My question is I have some savings in my account very close to 50K. I have been saving it for a house down payment. Will my LOC be impacted because I have savings in my account. Any advice is appreciated 🙂

Thanks 

Edited by Squeen
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BobButtons

BobButtons

Posted
  • Law School Admit
Posted

You will be more likely to qualify, that's for sure, assuming your talking about apply to a bank for a PSLOC. 

 

Good for you for the savings. 

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amw26

amw26

Posted
  • Law Student
Posted
2 hours ago, Squeen said:

Hello everyone, so I plan on applying for loans to cover for my law school costs. My question is I have some savings in my account very close to 50K. I have been saving it for a house down payment. Will my LOC be impacted because I have savings in my account. Any advice is appreciated 🙂

Thanks 

I have a similar amount of savings and was just approved at RBC for PSLOC no problem. (I bank with RBC so they definitely saw the savings).

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Tesseract

Tesseract

Posted
  • Law Student
Posted

It will help your approval for a PSLOC, although it may impact the amount awarded in bursaries if you decide to apply for those. 

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