Loan Question

[caribbo]

Hi,

After going to the SMU forum on SMU's website, I see that TERI loans are the only way to go for American students. Is it true that you must have an income just to get the TERI loan? Who has time to work as a medical student?

Thanks,
Bo

[NYC27]

I dont think there will be a problem for you to get the min. amount for Teri. (25,000). But I do believe they check your credit report regardless. Just as long as you kept up paying credit card bills, loan payments etc.. you should be fine. If you find your self needing extra money. Try the masters program. Federal loans and Sallie Mae Signature Student Loans are an option. If you have any questions, PM
Take care

[Knight007]

No...Teri is not the only way to go.

A lot of us are going thru Health Xpress Loans. They are easier to get than Teri
and yo ucan borrow the full amount needed to live, food, travel, books,tuition etc
and even a PC for the first term.
Health Xpress will cover EVERY cost of going to school..so you have no worries. :)

[onesolo]

I dont think there will be a problem for you to get the min. amount for Teri. (25,000). But I do believe they check your credit report regardless. Just as long as you kept up paying credit card bills, loan payments etc.. you should be fine. If you find your self needing extra money. Try the masters program. Federal loans and Sallie Mae Signature Student Loans are an option. If you have any questions, PM
Take care

Are the federal loans and the Sallie Mae Signature loan the same or are they totally different loans?

[MD999]

Are the federal loans and the Sallie Mae Signature loan the same or are they totally different loans?

The Federal Loans are distrubuted by Sallie Mae, but the Signature loan by Sallie Mae is a different loan I think.

[onesolo]

Are we eligible to get the Signiture loan and is it credit based?

[MD999]

Are we eligible to get the Signiture loan and is it credit based?

If you're enrolled ONLY in SMU classes and NOT in St Joe's Masters program, NO you cant get any kind of Sallie Mae, including Signature Loan.
But if you are enrolled in Masters I think you're eligible to recieve some extra money with the signature loan.... they changed some rules around last semester that allowed SMU-Masters students to be able to get a Signature loan for some extra amount of funds...not sure....contact Donna Walters at St Joseph's for that one. She'll know for sure.

[onesolo]

If you're enrolled ONLY in SMU classes and NOT in St Joe's Masters program, NO you cant get any kind of Sallie Mae, including Signature Loan.
But if you are enrolled in Masters I think you're eligible to recieve some extra money with the signature loan.... they changed some rules around last semester that allowed SMU-Masters students to be able to get a Signature loan for some extra amount of funds...not sure....contact Donna Walters at St Joseph's for that one. She'll know for sure.
thanks alot. I am going to be enrolled in the dual program so I'll see what I can do.

[jguru2]

http://www.sjcme.edu/gps/stmatthews_finaid.htm

[Bedazzled]

I would highly recommend signing up on the SMU website for a reminder for the next chat session about financial aid. I "attended" one of the sessions and had all of my questions answered. It was very helpful.

Good luck,
christen

[onesolo]

Yeah I talked to them yesterday at the chat session and it did wonders.... Actually it was right after I made that post