Folks;
For those who "successfully" obtained the student line of credit without involving co-borrowers/co-signers;
how did you do it or what were your secret?
...or involving co-borrowers/co-signers is inevitable in this game?
I've been out in the wild for too long and living on my own to get someone to co-borrow/co-sign a student line of credit.
Thank You
[Revisit] Student line of credit
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clairvoyant
- Rank 2
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- Joined: Tue Jul 07, 2015 4:42 pm
Re: [Revisit] Student line of credit
I obtained a $45,000 RBC Student Line of Credit. All I had to show was a school letter stating I was full time and the cost associated with the licenses and ratings. I had a cosigner (my father), however had I applied about three months earlier I wouldn't have needed one given my previous year of salary and the fact I was still employed at that time. Talk to RBC they were great with me and I have no complaints. Got me in the air faster, and working quicker. It would have taken a solid year longer to finish flight school had I not gotten a loan. To put that in perspective, I finished about March last year and am coming up on 1000 hours and 9 months at a job. Without the loan I'd likely still be saving and in flight school.
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clairvoyant
- Rank 2
- Posts: 84
- Joined: Tue Jul 07, 2015 4:42 pm
Re: [Revisit] Student line of credit
Which school did you go to?
If you don't mind I am asking.
I suffer from stop and go, work get in my way, a hiatus due to a surgery, etc. so this year I have the time and little money and I want to finish it all at once.
Thank you
If you don't mind I am asking.
I suffer from stop and go, work get in my way, a hiatus due to a surgery, etc. so this year I have the time and little money and I want to finish it all at once.
Thank you
awitzke wrote:I obtained a $45,000 RBC Student Line of Credit. All I had to show was a school letter stating I was full time and the cost associated with the licenses and ratings. I had a cosigner (my father), however had I applied about three months earlier I wouldn't have needed one given my previous year of salary and the fact I was still employed at that time. Talk to RBC they were great with me and I have no complaints. Got me in the air faster, and working quicker. It would have taken a solid year longer to finish flight school had I not gotten a loan. To put that in perspective, I finished about March last year and am coming up on 1000 hours and 9 months at a job. Without the loan I'd likely still be saving and in flight school.
