Congratulations – you've just been accepted to med, dental, or vet school! From the high grades to the exams and interviews, it's no easy feat.

While the next few years may promise trials and tribulations as you take the next step in your professional career, financing your aspirations shouldn’t be one of them. 

It's no secret that higher education in medical, dental, and veterinary fields can be extremely expensive. 

It's also no secret that the country is facing a shortage of medical professionals, with an estimated four million Canadian adults without a primary care provider in 2023.

This shortage will only get worse, with the Ontario College of Family Physicians projecting that one in four Ontarians will be without a family doctor by 2026. 

Knowing that finances can be a barrier to education, and even after setting and following a budget, taking advantage of student discounts, and applying for provincial and federal loans — covering tuition and living expenses over several years of study can still be out of reach for many.

blogTO recently spoke with Jennifer Bishop, Vice President of Personal Lending Products at TD, to find out how TD plans to help foster the next generation of medical, dental, and veterinary students with an enhanced TD Student Line of Credit.

Closing the affordability gap

"After the remarkable achievement of being accepted into these coveted programs after years of hard work, we know the financial burden can be overwhelming," Bishop tells blogTO. "We want to show medical, dental, and veterinary students that TD is here to support them."

TD's Student Line of Credit offers increased credit limits of $400,000 for medical school; $400,000 for dental school (plus up to $25,000 for eligible dental specialties); and $250,000 for veterinary studies. 

The TD Student Line of Credit also provides $100,000 in upfront available credit for med and dental students and $62,500 for veterinary students. Plus, most Canadian students attending a Canadian school will not require a co-signer. 

As well, principal payments won’t begin until two years after graduation or completion of residency.

Plan for your future

Current and prospective students also have the opportunity to get in touch with a TD Personal Banker who can discuss their unique needs and provide advice and guidance on how to best fund their schooling. 

"These TD Personal Bankers will walk them through the TD Student Line of Credit in a way that's tailored to their individual needs and financial situation," Bishop explains. 

While this line of credit is for students pursuing medical, dental, or veterinary education, it's never too soon to start planning for your future if you're still in undergrad. 

"The biggest tip we provide students is to start planning early and reach out to one of our TD Personal Bankers for guidance," says Bishop. "We're here to help students take a breath and enjoy the accomplishment of being accepted into one of these programs."

Sound like something worth examining? Visit TD.com to access a variety of finance and budgeting tips for students. You can also schedule an appointment with a TD Personal Banker at your local TD branch to learn how you can apply for this upgraded TD Student Line of Credit.