Thread: money, money, money,...MONEY?!!!! TERI or MEDI

how quick do you know if you qualify for private loans? saba sent me someone info, but i'll have to wait until mon to start the process.
Hopefully not to long, I have to send my deposit 750 by oct24.

jives



-----------excuse me, stewardess. I speak jive.-------------------------------

Medachiever can tell you right over the phone if you qualify for a loan with them or not, usually just takes a few minutes for pre-approval.
Medachiever has a higher borrowing limit, allowing you to take out as much as you need to attend Saba. Saba and Medachiever recommend not applying much earlier than 3 months ahead of your start date. I applied a year in advance, so I had to cancel the loan and re-apply because they told me that was way to early back then.
I don't know about Teri, since I haven't done that.

Is the deposit now $750? I paid $500 for the seat deposit just a few months ago.

do they have the same interest rate (i.e. which of the is better) and can you apply directly. I read that saba wants you to turn in your application for review.

I applied directly for pre-approval over the phone. I do think that Saba wants to look it over once you fill out and sign the actual paper, to help you make sure you're not shorting yourself.
Call Gardner when you get to that point.

Last I looked, Teri and Mediachiever's interest rates were the same, but that can change. I chose Medachiever because there is no aggregate limit and the application process was easier, and they will work with you if you need to improve your credit to qualify. So I had no need to try Teri yet.

I thought you had to wait until you had paid your first semesters tuition to even apply for a loan. Maybe I am smoking crack, but that is what I have read on some of the other posts. I sure hope you can use the loans for first semester tuition.

Originally Posted by dr. holbs

I thought you had to wait until you had paid your first semesters tuition to even apply for a loan. Maybe I am smoking crack, but that is what I have read on some of the other posts. I sure hope you can use the loans for first semester tuition.

You do have to pay for 1st semester up front, out of your own pocket. But you apply for Medachiever or Teri for the whole calendar year, not just by the semester like you may have in undergrad. So you can repay yourself the $6,380 some odd dollars out of your loan disbursement.

I actually applied for medachiver online and found out in literally minutes that i was pre-approved. So i called the 800 number and they said as long as the person on the application is me, and the school certifies it, I will get the money.

jives

------------excuse me, stewardess. I speak jive.------------------------------

Let me know how that works. I am interested because I have never heard of that happening. But if it does then that is awesome.

Originally Posted by wolfvgang22

Medachiever can tell you right over the phone if you qualify for a loan with them or not, usually just takes a few minutes for pre-approval.
Medachiever has a higher borrowing limit, allowing you to take out as much as you need to attend Saba. Saba and Medachiever recommend not applying much earlier than 3 months ahead of your start date. I applied a year in advance, so I had to cancel the loan and re-apply because they told me that was way to early back then.
I don't know about Teri, since I haven't done that.

Is the deposit now $750? I paid $500 for the seat deposit just a few months ago.

if u dont mind my asking that how much of the loan did u borrow? maximum loan for one semester?
thanx

Medachiever will basically loan you however much you want per year ("up to cost of education"), they say there is no aggreagate limit. I'm taking out about $46,000 the first calandar year (I have a family), and upon seeing how that goes adjust the amount up or down for year two. If you call the Gardner office, they can help guide you to choosing the amount right for you.