MedLoan

[rlewkowski]

We are happy to announce a new loan program offered by CMU to our students, which allows them to cover tuition and living expenses while attending our University. Qualified U.S. and international students are welcome to apply.
The MedLoan Financial Aid Program is a credit-based loan, insured by the Caribbean Medical University Foundation. It may allow you to cover tuition fees and living expenses while in the school.

Eligibility:


Full time students and accepted applicants, who are U.S. citizens or Permanent Residents qualify for the MedLoan without a cosigner if their credit report FICO score is not less then 680, however applying with a creditworthy cosigner may reduce the interest rate and increase approved loan amount.


Students and accepted applicants from other countries require a cosigner. A cosigner must be a creditworthy U.S. Citizen or Permanent Resident.


Eligible students may borrow up to $30,000 per year, depends on the credit history of the borrower and the cosigner, if required. The MedLoan is a fixed rate loan based on the 7% Prime Rate plus a margin, which is lower than any other private loan rates.

Repayment begins six months after you graduate, leave the school, or fail to meet enrollment requirements. You can always prepay loans at any time without penalty.

This loan will be granted to students who demonstrate financial need as well as integrity, motivation and commitment to their chosen profession. Fostering the education of future generations of students is a mission that reflects the spirit on which CMU was built. Recipients will be those who, in our estimation, will be the best of the CMU 's graduates.

To apply for MedLoan, please login to the MYCMU Online Services or download the application (http://www.cmumed.org/resources/pdf/MedLoan.pdf) from the form section.

[MDbonaire07]

Can you please post more info about the program, like the interest rate, deferment period, chances of getting approved, etc.

[studentdoctobe]

We are happy to announce a new loan program offered by CMU to our students, which allows them to cover tuition and living expenses while attending our University. Qualified U.S. and international students are welcome to apply.
The MedLoan Financial Aid Program is a credit-based loan, insured by the Caribbean Medical University Foundation. It may allow you to cover tuition fees and living expenses while in the school.

Eligibility:

Full time students and accepted applicants, who are U.S. citizens or Permanent Residents qualify for the MedLoan without a cosigner if their credit report FICO score is not less then 680, however applying with a creditworthy cosigner may reduce the interest rate and increase approved loan amount.
Students and accepted applicants form other countries require a cosigner. A cosigner must be a creditworthy U.S. Citizen or Permanent Resident.
Eligible students may borrow up to $30,000 per year, depends on the credit history of the borrower and the cosigner, if required. The MedLoan is a fixed rate loan based on the 7% Prime Rate plus a margin, which is lower than any other private loan rates.

Repayment begins six months after you graduate, leave the school, or fail to meet enrollment requirements. You can always prepay loans at any time without penalty.

This loan will be granted to students who demonstrate financial need as well as integrity, motivation and commitment to their chosen profession. Fostering the education of future generations of students is a mission that reflects the spirit on which CMU was built. Recipients will be those who, in our estimation, will be the best of the CMU 's graduates.

To apply for MedLoan, please login to the MYCMU Online Services or download the application (http://www.cmumed.org/resources/pdf/MedLoan.pdf) from the form section.

So does the "system" know to automatically kick out loan applications that are 680 and less, i.e 679?

And please shed more light on these sections....especially these sections..
i.e.
How will you "judge" the students who demonstrate financial need as well as integrity, motivation and commitment to their chosen profession.

And
Those who, in our estimation, will be the best of the CMU 's graduates.



:stirpot:

[rlewkowski]

So does the "system" know to automatically kick out loan applications that are 680 and less, i.e 679? Yes if there is no cosigner and the student doesnt have a solid credit history.

And please shed more light on these sections....especially these sections..
i.e.
How will you "judge" the students who demonstrate financial need as well as integrity, motivation and commitment to their chosen profession.

And
Those who, in our estimation, will be the best of the CMU 's graduates.
:stirpot:
We as the school have to certify the student for the requested amount. If a student applies for more that is required we have a right to lower the approved amount.
Regarding the motivation and commitment to their chosen profession; CMU Foundation is the guarantor of the Loan therefore we have a right not to certify students that dont show good academic progress. We as the guarantor have to make sure that the borrower becomes a licensed physician and will be able to repay the loan.

[studentdoctobe]

Yes if there is no cosigner and the student doesnt have a solid credit history.

We as the school have to certify the student for the requested amount. If a student applies for more that is required we have a right to lower the approved amount.
Regarding the motivation and commitment to their chosen profession; CMU Foundation is the guarantor of the Loan therefore we have a right not to certify students that dont show good academic progress. We as the guarantor have to make sure that the borrower becomes a licensed physician and will be able to repay the loan.
Evasive, but if they need to be granted a loan BEFORE they attend to begin with, how does your statement apply???

Besides, that will go against your CURRENT goals, lol.

:stirpot:

[rlewkowski]

Evasive, but if they need to be granted a loan BEFORE they attend to begin with, how does your statement apply???

Besides, that will go against your CURRENT goals, lol.

:stirpot:

We will evaluate the application based on the previous academic record.

[studentdoctobe]

We will evaluate the application based on the previous academic record.
Yeah BUT, if you will obviously accept every student REGARDLESS of their previous academic record, seems contradictory to deny a loan based on same factor, lol.



continues to..:stirpot:

[chizit]

Studentdoctobe
You Need To Go Stir Somewhere Else

[rlewkowski]

Yeah BUT, if you will obviously accept every student REGARDLESS of their previous academic record, seems contradictory to deny a loan based on same factor, lol.



continues to..:stirpot:


We dont accept every student REGARDLESS of their previous academic record

[studentdoctobe]

Studentdoctobe
You Need To Go Stir Somewhere Else
LOL, I knew if I stirred LONG ENOUGH, junk was going to splash out!!!!!!!!! eewww.

[studentdoctobe]

We dont accept every student REGARDLESS of their previous academic record
Seriously?????........ I mean SERIOUSLY?????

LOL.

[rlewkowski]

Seriously?????........ I mean SERIOUSLY?????

LOL.
SERIOUSLY!!!
For example, you wouldn’t be accepted REGARDLESS of your previous academic record.

[studentdoctobe]

SERIOUSLY!!!
For example, you wouldn’t be accepted REGARDLESS of your previous academic record.
LOL, you are assuming ANYONE would be INTERESTED in applying.

[rlewkowski]

LOL, you are assuming ANYONE would be INTERESTED in applying.

What makes you think Im assuming that?

[emt036]

Propose locking this thread, as it is downward spiraling into a personal flame war.

[studentdoctobe]

Actually, no need to lock it, as I'm done with 'them'
I really just wanted the satisfaction of watching replies that were OBVIOUSLY untrue.


LOL.
It's always interesting to watch someone state something that is not true, while knowing for sure that they were doing that.

[slevit1]

Yes if there is no cosigner and the student doesnt have a solid credit history.

We as the school have to certify the student for the requested amount. If a student applies for more that is required we have a right to lower the approved amount.
Regarding the motivation and commitment to their chosen profession; CMU Foundation is the guarantor of the Loan therefore we have a right not to certify students that dont show good academic progress. We as the guarantor have to make sure that the borrower becomes a licensed physician and will be able to repay the loan.

CMU is going to have quite a difficult time determining who can obtain a loan, based on your requirements, for two reasons.

1) Anyone who is applying to CMU obviously would not have a good academic record

2) As it stands, no one who attends CMU can become a licensed physician!

[rlewkowski]

CMI is not having difficult time to determine the eligibility for the MedLoan for the following reasons:
1) Majority of the applicant have a very good academic record, especially those transferred from SGU, AUC, SMU, and other schools
2) As it stands, everyone will be able to become a licensed physician upon completion the program and passing USMLE exams.

Therefore Mr. Slevit, I’ll give a good advice, don’t waste your time here, study hard and become a licensed physician

[studentdoctobe]

CMI is not having difficult time to determine the eligibility for the MedLoan for the following reasons:
1) Majority of the applicant have a very good academic record, especially those transferred from SGU, AUC, SMU, and other schools
2) As it stands, everyone will be able to become a licensed physician upon completion the program and passing USMLE exams.

Therefore Mr. Slevit, I’ll give a good advice, don’t waste your time here, study hard and become a licensed physician


WOW the discrepancies continue to mount!!!!!

From this thread;
http://www.valuemd.com/caribbean-medical-university-cmu/139705-class-size.html


Currently the class size is quite small due to the fact that this is our first semester; however our facilities allow us to handle lectures and seminars for up to 300 students per room. Based on ACCM requirements our class size for medical program should not exceed 60 students.


Creating an illusion of "so many transfers" LOL.

[rokshana]

CMI is not having difficult time to determine the eligibility for the MedLoan for the following reasons:
1) Majority of the applicant have a very good academic record, especially those transferred from SGU, AUC, SMU, and other schools
2) As it stands, everyone will be able to become a licensed physician upon completion the program and passing USMLE exams.

Therefore Mr. Slevit, I’ll give a good advice, don’t waste your time here, study hard and become a licensed physician

one, he is a she-pay attention
and two, sure you get to become an eligible pysician, BUT you still have NO PROOF, NO PROOF that CMU students ARE eligible to sit for the USMLE-THAT is the rate limiting step- not completion of the program.


You are STILL not listed with IMED and to state that you do have it on your website is deceptive- pure and simple.

How about better advice? Why don't you do your offical administrative duties and when you ACTUALLY have IMED lisitng for your school- then come back here and boast about it.

[slevit1]

one, he is a she-pay attention
and two, sure you get to become an eligible pysician, BUT you still have NO PROOF, NO PROOF that CMU students ARE eligible to sit for the USMLE-THAT is the rate limiting step- not completion of the program.


You are STILL not listed with IMED and to state that you do have it on your website is deceptive- pure and simple.

How about better advice? Why don't you do your offical administrative duties and when you ACTUALLY have IMED lisitng for your school- then come back here and boast about it.

Thank you for the back up rokshana, but I am, in fact, a guy....have been all my life :)

As for you, Rlewkowski, please stop lying to the potential students! I hope this is not taken by the moderators as insulting, because lying and deceiving is exactly what you are doing, i'm not being rude.

CMU is NOT listed by IMED and your students currently CANNOT sit for the USMLE and CANNOT be licensed in the US. This is not an opinion or something to be debated, it is a fact! This may change in the future, but it has yet to be proven.

Further, you DO NOT have students with excellent academic records. No one in their right mind would go to a school with no proof of US licensure eligibility if there was any chance at all that they could get in ANYWHERE else. Further, I am quite certain that you do not have any AUC, SGU, SMU, or Ross students that did not fail a course or get otherwise dismissed. There is simply no reason whatsoever that anyone would make such a foolish move.

[slevit1]

Rlewkowski:
And since you are apparently concerned with my academic pursuits, please be comforted by the fact that I have 25 more days before I need to worry about studying. 25 more days to make sure that pre-med students are properly informed.

[rokshana]

Thank you for the back up rokshana, but I am, in fact, a guy....have been all my life :)

.

oops!! I guess I need to pay more attention (its the step II study, that's it!!)- but you usualy makes so much sense- figured you HAD to be a girl!!:D

[slevit1]

oops!! I guess I need to pay more attention (its the step II study, that's it!!)- but you usualy makes so much sense- figured you HAD to be a girl!!:D

hahahaha....well thanks for the compliment, i suppose ;)