Where Is Da Money ??

[senz_asian]

.. We are 10 days and counting to the Summer semester.. and no sign of life for the Tuition Assistance Program...Now, I have been suggested of a so-called Financial Leave of Absence...

[the_punisher]

i want to know if anyone has been approved for TAP?

[jackets5]

i got an email to my smu account saying my application for the TAP program was accepted. that was it no more information was given

[senz_asian]

i got an email to my smu account saying my application for the TAP program was accepted. that was it no more information was given


I guess .. you're one of the lucky ones

[rynobuddy]

I received the same email that my application was accepted. We will just have to see what happens. I'll keep you all posted.

[AmericanIMG]

a few buddies of mine did as well.

[DrCannoli]

I am sorry to hear this situation especially for the summer...not fair someone should have to worry about the funding on top of their education...I sent an email but I haven't heard back yet, but im sure they are taking care of the summer issues before the fall

[lacarthic]

Just got my e-mail today saying I was approved I faxed in my paperwork about a week ago.

[senz_asian]

Just got my e-mail today saying I was approved I faxed in my paperwork about a week ago.


This is good news ... would you mind telling us.. how much you asked for... like to cover the full tuition.. or after factoring in the MBA money?? Is it only for the Summer semester ?

[lacarthic]

I asked for $10,000 which I think covers all of tuition and graduation fee, I am not doing MBA so that does not factor in my finances. It is only for summer semester since it is my last one, thank God.

[senz_asian]

I asked for $10,000 which I think covers all of tuition and graduation fee, I am not doing MBA so that does not factor in my finances. It is only for summer semester since it is my last one, thank God.

well ... you got the top priority.... congrats once again!

Keep it up ... keep us posted !

[rynobuddy]

Today received another email and everything is finalized and good to go (gosh I hope so). Anyhow I also asked for only one semester ($10,000) since that is all i have left.

So far the only drawback is they want ALL 10,000 + interest paid back within 3 months after graduation. That's going to be challenging since I still will not have a job til next July when I start residency.

[butterflymd]

Good luck to you Ryno buddy why aren't starting residency this July?

[MD999]

Today received another email and everything is finalized and good to go (gosh I hope so). Anyhow I also asked for only one semester ($10,000) since that is all i have left.

So far the only drawback is they want ALL 10,000 + interest paid back within 3 months after graduation. That's going to be challenging since I still will not have a job til next July when I start residency.

When in residency, you'll be making between 40-55 k/year (depending on the program), so thats about $2200-3200/month after taxes. First paycheck will most likely be in mid-late July.
I think if they gave you 6 months after graduation rather than 3, thats a more realistic amount of time to pay off the $10,000 plus interest loan.

Squeezing the 10K out of you 3 months after graduation might be impossible, or at best putting you in extremely tough living situations.

[azulpanther]

Squeezing the 10K out of you 3 months after graduation might be impossible, or at best putting you in extremely tough living situations.




Yep seems like we'll be pitching a tent and waiting in line at the soup kitchen to pay this back within 3 months.

[M.E the MD]

Are they nuts? That's almost impossible; make it 6 months for gods sakes MINIMUM

[the_punisher]

When in residency, you'll be making between 40-55 k/year (depending on the program), so thats about $2200-3200/month after taxes.


3200 x 3 = 9600.... Still short of 400$

i agree that 6 months may be more realistic... you also have to think about Health express or TERI loans that you will be required to pay back during the same time period…

it seems that most of the students who got this TAP are in their clinical. Did anyone from Basic Science get approved for TAP...

[WSUCougar]

3200 x 3 = 9600.... Still short of 400$

i agree that 6 months may be more realistic... you also have to think about Health express or TERI loans that you will be required to pay back during the same time period…

it seems that most of the students who got this TAP are in their clinical. Did anyone from Basic Science get approved for TAP...


except with Health Express and Teri, you can defer payments until after residency..... man... I'm glad I didn't have to dip into this TAP..... "payback within 3 months" yikes...... especially when you'll have to be paying for moving expenses, etc where ever you end up doing your residency program.....

[AmericanIMG]

consolidate it with your other loans

[Laurie S]

Good thought IMG! :)

I was reading Suze Orman's site on consolidation. She said do it now even if you have a few reamaining months of deferment/forebearance. She said the rates are too good to pass up right now.

[AmericanIMG]

as soon as i finish up i'm going to consolidate. rates are good, and w/ some shopping around u can have a good 10-25% written off when you consolidate w/ a credit union.

[Laurie S]

I don't understand. Are you saying that if you consolidate with a credit union, they will take 10-15% of the principle off the loan balance? With my $300k loan balance that would be a $30,000 savings. That would be sweet! I must have misunderstand what you wrote. If you have time, please clarify. :)

[AmericanIMG]

no thats what i'm saying. your debt is in demand. negotiate ppl!

[Sebastien Guilbard]

There is no doubt that the prime rate is not going to go much lower since it is pretty close to nothing already.
If you have mortgages, etc.., this is a good time to consolidate, refinance etc...
make sure you get a fix rate though...
The same way, if you have investments in any other currencies than USD, you should convert them all in US$ now. Although this is not 100% sure, chances are the US$ will not go much lower or it will be called rupie....
:)

[butterflymd]

Sebastien that is hilarious I was just telling my friend that we are going to be a third world country pretty. Where is Alan Greenspan when you need him. I think they should fire the current guy and bring him back :)

[senz_asian]

Sebastien that is hilarious I was just telling my friend that we are going to be a third world country pretty. Where is Alan Greenspan when you need him. I think they should fire the current guy and bring him back :)


Greenspan had a magic touch to bring the Greenback up :D

But I am sure he's somewhere enjoying the sun and golf ...

[butterflymd]

If we could bring Greenspan back live would be lovely I am sure the govt has been calling him alot lately. LOL