Look don't get me wrong, AUA is a good school but the way school is handling the financial situation of its students is not up to par. Ok, let me be straight, financial aid thingy at AUA is very confusing. I don't get it; I read people talk about different companies and institutions lending private and consolidated loans to students, and even then you have to have a Co-borrower with excellent credit. Still, there are so many students going to that school.

With the North American economy going down the drain, I don't think much student will find their relative or friends in a good credit standing. So, that means, there is no co-borrower for these students and as my counselor said, "Defer it to another semester." I think then, more than half of the American students will have to defer their dreams and hopes for another semester.

I thought, the university was supposed to help student with the financial aid process, but here in this case, university itself seems to be confused. Where is the student supposed to go or ask when counselor himself/herself tells student to DEFER to another semester?

I am completely confused at this point, and I don't have a RICH DADDY plus the people I know that would be my co-borrower don't have a great credit. Also, no bank in US is giving out loans to students going to AUA. This situation could also apply to other medical schools in Carribean.

With a heavy heart and soul and all the dreams scattered, I am about to announce my withdrawal from AUA and may be apply to other medical school in Carribean, or even apply for Masters in US. Heck, if university is not interested in helping out its students with their financial situation, what can students expect in their future endeavors.

Best of luck to all, who have gotten money and the rest that are surviving on a chocolate a day. And for the ones that have rich daddies and mommies, I wish all the luck to you.

If I get my financial aid thing worked out, then i will be back again, otherwise, take good care and study hard everyone.

Peace...

i feel for your concern, i know others who are im similar positions. i'm not going to completely comment yet until i see if i'm really not going to be getting my 2nd disbursement check from SLX (one of the issues someone of the upper term students are facing). i do know that the president NS is working on that part and there are efforts about the required co-signer trying to be worked out.

i will say this, you aren't the only person and the school needs students to pay $$ otherwise there is no school. those with "rich mommies and daddies" probably comprise about 15% of the school, maybe less but not much more. so the school can't possibly run like that and they know it, that's why they are working hard to get the loan situation figured out.

anyway good luck with things, i hope they all work out and if not, good luck at your next school.

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I'm like Internationally-known

You may want to contact the loan companies again. Today, if you didnt already know, the federal government gave a $200 billion boost to banks to help the ailing economy. This will loosen some of the constraints on lenders and allow them to take more risks than in the last few months. I can see why a caribbean medical student would be a risk, but if what they predict happens, you never know if the loan companies would take a second look at your app. Best of luck!

I am in the same situation w/ you. I do not have a co-signer and those who would be willing do not have good credit. So now I don't know what Im going to do either. Even though Im in this situation Im not going to let that send me packing. So I encourage you not to withdraw because there are so many people in your same situation.

The pullout of Health Xpress has left many Caribbean schools scrambling for new lenders. The aforementioned credit crunch has not helped matters either.

I don't think things will improve much for May 2008, but I'm betting the school can procure additional lending sources before the Sept 2008 semester starts. Loan monies are the lifeblood of the school and it behooves the school to procure additional loan sources with more favorable terms for borrowers...that or the school will find themselves absent a large number of students come September...something it can't afford.

Time will tell.

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John Gilbert

"Zip it, Kreskin! Wear a cup. It gets tough out there." - Dennis Miller

I have to say unfortunately that I am in the same boat.
My parents are more than willing to help cosign with me for my loan but to be quite frank their credit sucketh and I'm not sure if I'll get my loan come September. While I'm glad I have a few more months to get things ready than the May folks, I just feel that without a good cosignor I'm gonna be SOL and might have to defer to Jan. I'm hoping against hope that this doesn't happen because I am ready to start but with the high bar these loan companies have set, I'm not sure how I will get around that.

I have excellent credit and my loans were approved without a co-signor when coming to this university.
I do not have the option of having a cosigner and never did. I would have never come to this school or any other school if this was a requirement. After spending nearly fifty thousand dollars of borrowed money with this school, if I am now requested to have a co-signer, where is the professionalism?
· First of all, co signors are required if there is something wrong with one’s credit, so this “MANDATORY FOR EVERYBODY BUSINESS” is simply not acceptable.
· Why did we lose health express, can someone answer this question so that we know exactly what happened?
I hope everyone understands that most people including myself will have a serious problem when requested by someone to co-sign on a student loan. I took it upon myself to take the risk to come to medical school, so why burden a third party to take the same risks with me, I feel it is simply not fair. When someone co-signs for you they are promising to be totally responsible for your debt in the event you are unable make payments. The loan companies will show no mercy when going after them. Furthermore, as soon as someone co-signs a loan, it immediately appears on their credit report and whenever they apply for something the cosigned amount is considered as part of their liability. So for instance if the co-signer is trying to buy a house or start a business, when the lending institutions are calculating their debt to income ratio, the co signed loan amount will be taken into consideration. So not only are they taking a risk, but also it limits their freedom when it comes to making their financial decisions.
· Another issue is that sometimes when you find a willing co-signer, their credit may not be all that great and this will push up the interest rate.
· The financial aid office made a promise that they will be in Antigua to discuss this issue in the beginning of February, we are almost midway through March
· What is the school doing?
· Do they have some real solutions?
· How many students is it affecting?
· Is the school willing to give loans to students at a reasonable rate while it goes through the process of fixing this issue?
· I am loosing so much sleep over this and cannot focus on my studies. This is a serious problem for me and at a good number of students.
· I am wondering out loud if the school has made any measurable progress on this matter ?

i just want to clear something up, it's not the school that requires the cosigner, it's the loan company itself. i do feel for you though because if i do not get my 2nd disbursement check, i'm going to have to scramble to find another lender. in the end, my parents may help me out with that but i didn't want to to put the burden on them in the beginning which is why i liked the SLX loans. i think FA is coming to the island either this week or next so i'll give an update on what i know after talking to them.

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I'm like Internationally-known

The school lost student health express because they pulled out of ALL caribbean schools. The is nothing AUA could have done to prevent this.

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AUA & Ross Forum Moderator

· The school is getting into an agreement with a loan provider that requires a co-signer, the end effect is that I need a co-signer.

· Why can't the school get a loan provider like the other Caribbean medical schools which has loan providers with low interest rates and does not require a co-signer?

· Also correct me if I am wrong, what is the point of FA coming to the island either this week or next? I don’t see any lenders on the Island. Why can’t they send a memo to the students on the progress they have made since January to address this issue. I am definitely not looking forward to a meeting like section held in one of the class rooms where they are going to tell me they are “doing everything they can” and offer me a payment plan to which I cannot subscribe as I don’t see any income coming my way to pay into such a plan since I am in school. I want people to understand that I am not being negative but I am trying to be very objective here.