Just thought I would pass this info to the current students.

Most apply people did apply for medachiever from key bank (when i was available)b/c the interest in lower and b/c they are not as hard to get unlike Teri.

But honestly, Teri is better if you can get it. I actually have both and I was successful in defering my Teri Loans without any problems but my medachiever loans are a pain. so whatever ur oprtions are for any loans..teri is the way to go.

Key bank which is the lender of medachiever wants alot of certifying documents if you are going to apply for forebeance..e.g. W-2, letter from unemployment office or school placement office. I have no clue where an unemployment office is!!! Trying to defer this loan has been a big headache unlike Teri who were very helpful and understand and did not as for anything.

Just giving a lil warning to anyone whos planning on appyling for forbearance from medachiever after the the grace period is up.

Uh, Medachiever is no longer an option for Caribbean schools.

obviously old man! ..i know its not option anymore. but there are students that were taking out this loan before it got taken away.

is it true? What is the DOE number??

key bank's medachiever?? it still is an option for ross studets.

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I stand corrected.

I'm 99.9% sure that I will be using Medachiever.
What are the drawbacks to it?

I looked at Key bank, Teri and SallieMae.
Key has the lowest rates and no fees, unlike Teri.

__________________
I am Superman
__________
*Skydivers don't knock at Death's door. We ring the bell and run away.

*100% pure adrenaline ... other guys snort for it, jab a vein for it, all you gotta do is jump
=> =>

Mani..I don't know Spartan's DOE code. I tried looking for it in some of old paperwork and stuff...but can't seem to find it. Try calling the NM office..asking ST(financial aid lady). And for Staffords..I don't know!!

Butters..not sure about Ross.


Skydiver...I only have one issue with Medachiever. It is its hard to get a forbearance once your grace period is up. If you don't know...forbearance is option where u can ask them to freeze ur payments due to finanical circumstances. I've finished my grace period and now asking for a forbearance. But Key Bank which is the lender of Medachiever loans wants alot of documentation to prove that you are not employed, such as W-2, Letter from state unemployment office, and a self-certifying statement why your not working.
But on the other hand, Teri was very understanding and Knows that us med graduates don't have the financial resources right away to start making payments for those big loans. They granted my forbearance with any questions asked.

I can't remember what the max amount of time was for forbearance for Teri....BUT for medachiever it is only 6 months for the life of the loan.

Yeah Medachiever might have the best rates...but in the long run...it might not be worth the headaches.

I wish I took all Teris...I only applied for medachiever cause they had online apps with instant approval decision. I hate having to do the paper apps for Teri back then and then mail it to my school and then have them certify it and then go to teri. it made me nervous about whether or not the loan got approved.

Despite what has been said, there are NO stafford loans!!!

Mj03,
Did you use the Residency deferment or planned to pay just after graduation?

No offense intended here, but did you quit school and are now required to go into repayment, or are you between clinicals or residency?

I appreciate your response, because I pretty sure that I will be using Key.
Thanks

__________________
I am Superman
__________
*Skydivers don't knock at Death's door. We ring the bell and run away.

*100% pure adrenaline ... other guys snort for it, jab a vein for it, all you gotta do is jump
=> =>