Offshore schools may lose federal loans

[vugar215]

I'm still a bit confused about the ramifications of this. Suppose that we lose the federal loans and hypothetically, those who are capable of receiving loans now, can still receive enougn private loans later....

Ok, so given that, we can still get our education. The fact that federal loans arent available doesnt change that fact that the schools are accredited by the WHO, etc and are capable of generating students that are just as bright and intelligent as US medical schools. Residency directory know this, so in theory, losing loans isnt neccessarily going to hurt our chances of getting a residency and/or a job after residency. Some people say if effects the reputation of the schools. I'm new at this, so don't freak out, but how exactly does not having a stafford loan effect the quality of education?

Am I correct in thinking this way, or just completely wrong? I hope I don't sound too ignorant here...again, I'm new to all of this...planning on coming to SGU in January, so I'm pretty concerned. Just trying to get some ideas cleared up in my head. Any insight?

[options]

Originally Posted by vugar215

I'm still a bit confused about the ramifications of this. Suppose that we lose the federal loans and hypothetically, those who are capable of receiving loans now, can still receive enougn private loans later....

Ok, so given that, we can still get our education. The fact that federal loans arent available doesnt change that fact that the schools are accredited by the WHO, etc and are capable of generating students that are just as bright and intelligent as US medical schools. Residency directory know this, so in theory, losing loans isnt neccessarily going to hurt our chances of getting a residency and/or a job after residency. Some people say if effects the reputation of the schools. I'm new at this, so don't freak out, but how exactly does not having a stafford loan effect the quality of education?

Am I correct in thinking this way, or just completely wrong? I hope I don't sound too ignorant here...again, I'm new to all of this...planning on coming to SGU in January, so I'm pretty concerned. Just trying to get some ideas cleared up in my head. Any insight?

You are correct and if we lose loans it will probably have little bearing on where you can match.

The whole thing is more scary because federal loans give you a sense of stability and dependability on at least 1/2 of your financing. Private loans are not dependable and the companies come and go (i.e. medachiever).

On top of that, some lenders require your school to have a DOE code to qualify for their loans (i.e. Saliemae/Nelliemae). So our options would be limited as far as lenders go.

So, yeah, if we do lose federal loans, most of us will probably still make it through. It just makes it that much harder..

[stateagency]

What's your mailing address?

[shaggy411]

I'm worried..I have an interview with ross next week for the jan 06 class..and hearing all this frightens me.. should I ask about it in the interview???

[RUJC05]

Originally Posted by The Republic

When someone asked who the senator was who removed the loans in the first place, the admin said he did not know. So we still do not have a face to our enemy.

Our common enemies are (R-WY) Sen. Mike Enzi and (D-MA) Sen. Edward Kennedy. Since they are the sponsors of the bill, I think we should all send them emails. Sen. Edward Kennedy is on the committee himself. We can't let them get away with this.

[Docjpuff]

I don't know about other schools but SGU admin is located in NY. And I believe our school is a buisness that pays taxes to NY. And the students that get stafford are all US students who themselves or their parents pay state and federal taxes to the US government. And guess what? We are all going to be working in the US and paying taxes to the US government one day as well.

So for those of you posting messages saying we shouldn't be able to get federal loans from the US government.....you have no idea what you're talking about. We're here to get an MD, we're not here to bleed the government dry or scam the US government out of money.

[swimguy23]

Originally Posted by Docjpuff

I don't know about other schools but SGU admin is located in NY. And I believe our school is a buisness that pays taxes to NY. And the students that get stafford are all US students who themselves or their parents pay state and federal taxes to the US government. And guess what? We are all going to be working in the US and paying taxes to the US government one day as well.

So for those of you posting messages saying we shouldn't be able to get federal loans from the US government.....you have no idea what you're talking about. We're here to get an MD, we're not here to bleed the government dry or scam the US government out of money.

the people who post those comments are people who go to schools that cant get federal loans bc they arent included in the grandfather clause and theyre bitter

[swimguy23]

duplicate post

[McGillGrad]

As I understand it, and as it has been mentioned before, SGU, AUC and Ross should be able to access Title IV funds due to the following clause that allows schools with a 60%+ ECFMG pass rate:

`(II) at least 60 percent of the individuals who were students or graduates of the graduate medical school outside the United States or Canada (both nationals of the United States and others) taking the examinations administered by the Educational Commission for Foreign Medical Graduates received a passing score in the year preceding the year for which a student is seeking a loan under part B of title IV; or';

Thus, in short, if the reconstituted bill passes then the worst case scenario will be intensive exams that students must pass before taking the USMLE exams.

[OLDPRO]

Originally Posted by vugar215

I'm still a bit confused about the ramifications of this. Suppose that we lose the federal loans and hypothetically, those who are capable of receiving loans now, can still receive enougn private loans later....

Ok, so given that, we can still get our education. The fact that federal loans arent available doesnt change that fact that the schools are accredited by the WHO, etc and are capable of generating students that are just as bright and intelligent as US medical schools. Residency directory know this, so in theory, losing loans isnt neccessarily going to hurt our chances of getting a residency and/or a job after residency. Some people say if effects the reputation of the schools. I'm new at this, so don't freak out, but how exactly does not having a stafford loan effect the quality of education?

Am I correct in thinking this way, or just completely wrong? I hope I don't sound too ignorant here...again, I'm new to all of this...planning on coming to SGU in January, so I'm pretty concerned. Just trying to get some ideas cleared up in my head. Any insight?

This affects private loans as well. Key bank told me when I asked them about the pull out about the Carribean schools still getting loans from them, they said "they get federal student loans" if your school wa eligible for federal loans then you could get ours. I think the staus of the schools change.

This is pure politics in Washington! There is a growing health care crisis in the world, not just the USA alone and now the backroom boys in congress want to keep all the money going to US schools only! Who cares about Joe citizen, who cares we need more Dr.s!