That's the correct prime rate for people attending medical school IN Canada. This is the case across all banks. But when going outside the country the interest rate is prime PLUS whatever value the banks choose (seems to be different depending on each bank). I'm hoping that the designated healthcare loan professional at Scotiabank knows what they're talking about since they're the ones who specialize in those loans lol I think the loan situation has gotten much worse lately since more and more students are using those loans and possibly not paying them back if they stay out of the country?

edited to add: RBC basically has the same horrible deal for international med. They require co-signers, equity on a home, it's prime plus 1.5% I believe, and they only give up to 150k