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Consolidating Your Student Loans

Why should I consolidate my student loans?

Consolidating your student loans can lower your monthly payments, simplify your finances and free up cash flow. Consolidation means you can stretch the time it takes to repay your loans. You may also be able to refinance loans at lower interest rates and reduce your monthly payments. And consolidating your debt can make your financial planning and day-to-day finances more convenient.

Talk to your MD Advisor

Together with your MD advisor, you can decide if consolidating your student loans makes sense. You need to consider things like whether taking a line of credit to consolidate loans could restrict your access to credit in case of an emergency. There are also potential tax implications of forfeiting student loan status. And there are loan forgiveness programs that you may qualify for.

Contact MD Financial Management or call 1 866 243-9505.

The Medical Student and Resident Line of Credit1

We offer access to a solution that helps you fund your medical education and living expenses while keeping your debt to a minimum. Borrow up to $275,0002 by the end of residency in flexible annual increments to help you effectively manage and consolidate your debt.

All-In-One Banking™—Loan consolidation that works in your best interest

With All-In-One Banking™, you can combine your chequing, high-interest savings, loans and mortgages within a single line of credit banking solution that gives you greater convenience and lower interest costs.

Every time you make a deposit with All-In-One Banking, your personal debt is instantly and automatically reduced. This can dramatically lower the cost of financing major purchases such as a car or a home.

Contact an MD Advisor to see if All-In-One Banking™ is right for me. No MD Advisor? Find one in your area.

1 Banking products and services are offered by National Bank of Canada through a relationship with MD Management Limited. Credit and lending products are subject to credit approval by National Bank of Canada.

2 The following medical students or residents are not eligible for this program: those studying part-time, attending a non- Canadian school, enrolled under the Canadian Defence Medical Officer Training Plan (MOTP), non-Canadian citizens or non permanent residents. Medical students or residents belonging to one of the foregoing categories may be eligible for standard loans (with a qualified Canadian resident co-applicant ). All loans are subject to credit approval by National Bank of Canada.

All-In-One Banking™ is a trademark of National Bank of Canada.

The information contained in this document is not intended to offer foreign or domestic taxation, legal, accounting or similar professional advice, nor is it intended to replace the advice of independent tax, accounting or legal professionals. Incorporation guidance is limited to asset allocation and integrating corporate entities into financial plans and wealth strategies. Any tax-related information is applicable to Canadian residents only and is in accordance with current Canadian tax law including judicial and administrative interpretation. The information and strategies presented here may not be suitable for U.S. persons (citizens, residents or green card holders) or non-residents of Canada, or for situations involving such individuals. Employees of the MD Group of Companies are not authorized to make any determination of a client’s U.S. status or tax filing obligations, whether foreign or domestic. The MD ExO® service provides financial products and guidance to clients, delivered through the MD Group of Companies (MD Financial Management Inc., MD Management Limited, MD Private Trust Company, MD Life Insurance Company and MD Insurance Agency Limited). For a detailed list of these companies, visit MD Financial Management provides financial products and services, the MD Family of Funds and investment counselling services through the MD Group of Companies. MD Financial Management Inc. is owned by the Canadian Medical Association.