Hi MBA aspirants,
I just want to give info to people who is considering The Rotman School of Management, inToronto, for their MBA.
The Royal Bank of Canada just changed their student loan criteria so International students (wih no PR or canadian co-signer) are able to borrow C$40k (C$20k in the 1st yr, C$20k in the 2nd yr).

For the first 2 yr, you don't need to pay for interest, the third year, you'll be charged at Reference rate (3% as of now), and fourth year onwards rate will be at reference rate + premium (depends on the credit history). But maximum willbe at ~5 or 6%...

Note: I am currently attending the Rotman school. And just got my student loan approved.

Hi Rhino,

Thats a grt news buddy.Hey I am targetting for 2011.Can you pls. guide me through the process.Is it feasible that I can apply for the loan before coming there.Can you provide me with a contact detail of an executive from that bank.

I shall be grateful If you can even let me know about the College and the programme.

Regards,
Aprajit

Hi Rhino, Thanks for this information. This is definitely helpful.

I am admitted to Rotman and will start in Aug 2011. Can you please give me some more information regarding this? Do you have any handy information or any links which you can share, which will give me more details about the current limits and the interest rates? Please let me know in case you can provide me with the contact details (phonr # or email ID) in RBC?

Thanks in advance.

Best regards,
Gaurav

For the financing help from the bank, here's the information:

Bank: Royal Bank of Canada
Name: Veena Janardhanan
E-mail: [email protected]

ask her about RBC student loan program with the Rotman School of Business.

All the Int'l student that I know, have their loan approved for C$40,000... not too bad... if you have canadian PR, you can borrow up to C$80,000,-

Rhino,please what has been your experience so far at ROTMAN?I have made up my mind to do my MBA in Canada,no more going to Europe.
What's your take on the job outlook for ROTMAN grads and how easy or difficult is it to get an internship for international students?
What's your advice generally for people wanting to come to study in Canada particulary ROTMAN?

The experience has been good. There are 260 students in the batch, split into four sections. In first year, the curriculum follows quarterly schedule. Therefore, the first year, especially the first 2 quarters, will be hell! Studying at Rotman is like drinking from a fire-hose. Too much works!

The exam can be ridiculous hard (ie. Finance, some girls cried after the exam). UofT uses bell-curve grading so it's hard to get grade above B+. Some people did failed at some courses and drop-out from the program. The Rotman MBA program is quite famous to have the highest drop-out percentage amongst Univ of Toronto graduate programs.

Internship is hard to get due to competition. There are 260 people eyeing for the same positions. I would say that each year, only 150 people get a job from the career center, and 50 more get job from their own network. So there are 50+ more people without internship.

Rotman is known for its finance program, and usually Internship is required for career switcher to Finance. That's why people choose 2-yr MBA school so that they can do internship. If you want to do non-finance career path, you are better of doing one-year MBA (ie. Ivey, Queens). It saves you money and time.

The good thing about the MBA program, the Career center sincerely helps the students. And most of the faculties have at least PhD from great schools (Ie. Harvard, Yale, MIT). Hence, the high tuition fee.

My advices for student who wanting to study in Canada: prepare to study hard and learn to network, the later is probably a Canadian thing. I am still learning the Canadian culture of finding jobs here myself.

Note that I've been frank about my own experience at Rotman because I don't want people fell into $90K of debt and have a bad MBA experience.

Good Luck to you all !!!