Financial Aid/Loan Setup for May/Sept. 2008

[drjds]

Has any of the new accepted students gotten his/her loans set up for the upcoming entering classes? If so, which loan provider and what did the process entail?

[allredpike]

I have, I went through TERI loans from Bank of America. The process was simple; contact the finacial aid office and they will walk you through it. You will need to fax over a few documents etc. But, overall it is a simple process.

[doctor21]

I have, I went through TERI loans from Bank of America. The process was simple; contact the finacial aid office and they will walk you through it. You will need to fax over a few documents etc. But, overall it is a simple process.


I am in the same boat as drjds. I wanted to know if Terri gave you a better rate than Doctors' choice or what was your reasons for choosing Terri over Doctor's? If you want to tell me you could PM me or post it here thanks.

[allredpike]

When I applied, I had talked to a couple of people who had told me that the Dr. Choice loans were not the best. Teri loans are better but not a lot. I would check both out really well. In fact, I think I will do a little more research...

[doctor21]

When I applied, I had talked to a couple of people who had told me that the Dr. Choice loans were not the best. Teri loans are better but not a lot. I would check both out really well. In fact, I think I will do a little more research...


thanks. I will try to get some more research, but I have not figured out a way to directly access either loans website to get more information than what is available on the school's website. Do you know how?

[allredpike]

Dr. choice: www ***** com

actually go to: www iefc com it is the International Education Finance Corpation they have the options spelled out. I know you do have to go through the school, and pay them their fee.

[allredpike]

I have been talking to dr choice and apparently all new loans have been suspended ... they are not sure when they will be allowing new loans.

[doctor21]

I have been talking to dr choice and apparently all new loans have been suspended ... they are not sure when they will be allowing new loans.


that is crazy thanks for letting me know. It looks like Terri is my only option, but I was thinking of taking the large amount for the 4 semesters.:confused:. When will we know someting?

[allredpike]

yea, I did the same (large amount). I hope that the market will get back on track. I asked the dr.c people about their time frame and they never have written back. So I guess Teri is our only option now.

[doctor21]

Is the 45,00 for 3 semesters enough to live on and come home to visit for the year? or will I need outside money as well?

[allredpike]

wow, great question. It should be...

I am not sure how much to budget for. I sure hope that will be enough!

Does anyone know the price per month to live on the island?

[doctor21]

wow, great question. It should be...

I am not sure how much to budget for. I sure hope that will be enough!

Does anyone know the price per month to live on the island?


I think the school said to live on the island the budget including rent is about 1,200 a month. But I do not think that this includes the travel home. I hope someone can tell us if the loan amounts are enough.

[drjds]

Do you know why the Dr. Choice loans were suspended?

[drjds]

Is it true, that St. Eus. includes payment for textbooks in the tuition, in other words they are "free"?

[allredpike]

I am not sure on why? I asked, but they never have responded. As for the text books, I don't think they are included. I am not sure, I have heard that most (if not all) of the material that is covered in class is available for download (powerpoint). Not sure about the books...

[drjds]

Any one will be applying as a "credit-ready" applicant?

[doctor21]

Is it true, that St. Eus. includes payment for textbooks in the tuition, in other words they are "free"?


The books are not covered in tuition. They changed their policy starting in the fall of last year, they just have not updated the website. Most students have been suggesting which books to get if you search that topic in the threads. You go on to the schools website and under resources click on the bookstore and then which semester you want and the books that you need to order will pop up.

[doctor21]

I am not sure on why? I asked, but they never have responded. As for the text books, I don't think they are included. I am not sure, I have heard that most (if not all) of the material that is covered in class is available for download (powerpoint). Not sure about the books...


Did they say if there was another lender going to take the place of Dr. C, so that we can have more than 1 option?

[allredpike]

I applied as a credit worthy applicant

[allredpike]

no, nothing. We may need to contact the school.

[doctor21]

I applied as a credit worthy applicant

Does that mean that you applied by yourself for the 2 semesters without the co-signer instead of the 3 semesters? What kind of credit score were they looking for in order to have the loan on your own? Did they give you a min. score to have?

[allredpike]

yes, I applied by myself for 4 semesters without a co-signer. I am not sure the credit score they need. I do know that I will not qualify after this loan (that is why I got all that I could), since you have to have income verification.

[shoshanna]

From their handbook, students w/o cosigner need minimum 675, and students w/cosigner need 625. Hope this helps.

[doctor21]

I talked to administration yesterday and she was telling me that Dr. C loans are just suspended for this semester and they should be back for the fall. They just did not want to over lend themselves.