I am planning to attend AUC this September, I heard that there is a new loan program for Graduate Professional students though the US government. A friend of mine who goes to Ross is paying for his education using Stafford and PLUS loans. Is the Grad/Professional PLUS loan also available to AUC students? I looked a Private Loan through IEFC, their limit without a cosigner is 25,000US a year, that means with Stafford loans, I will get about $43,500 a year, I will still need another 7,000 because I am guesstimating that the cost of living including airfare home and to the island will be about $25K a year.

Subsidized and Unsubsidized Loans.

GRAD Plus loans are nothing but private loans offered by federal govt. It is an option for you when you apply for private loans. It is available to AUC students also. I have been getting it for the past 2 or 3 semesters. Between the Subsidized Stafford loan, Unsubsidized Stafford loan, and Grad Plus loan, I get about 26,000 dollars for every semester. You probably will get a little bit less during basic sciences.

-ML

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PM&R (Class of 2012)
AUC Alumni (Class of 2008)---> I wonder if I need to fill any form to join alumni or if I can self proclaim myself as an alumni having graduated from AUC???

OMG!!! the heck.....These loan repayments are killing me. Why can't banks consider us poor and let go. Half my monthly income is going to loans

PS: I hate cold weather like no other

It has been said just about ALL will qualify for the GradPlus Loan. Bankruptcy and extreme debt being the exception. Is this true?

***Has anyone out there with poor credit been able to attain this loan?

Thanks in advance for the info.

AJ

Call up Sallie Mae and ask them.... I'm certain you'll get it like your saying, but your interest rate will be a lot higher concidering your in a more risky group due to your past credit problems.

What is "extreme debt" ?

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Where are you getting these estimates? Tuition is 11,000 for the fist 4 semesters and living cost per semester is on campus is 3,800. Also, food and other cost shouldn't be over 3,000 per semester. So for a year it seems that the total cost would be 34,000. The loans should cover it.

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That's the answer I search for. I was told that by a Ross FA Advisor. I was hoping to get a response from those who are already on GradPlus and have/had poor credit rating.

I'm telling you, you'll get the loans you need with poor credit ratings but you're going to need a co-signer and your interest rates are going to be through the roof. Also, there is always the possibility that you will not be able to get loans.

Do you happen to know what a good credit rating would be? I'm guessing if I get my act together I can get somewhere between like 650 and 700.

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