Hi everyone! I am a recent transfer into St. Eustatius and there seems to be problems with the loan companies. Teri just filed for bankrupcy and Doctors choice closed down due to lack of funding..is that it for our loans??

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Cindy
Rutgers University-Newark College of Arts and Sciences- Alumni

Oh noooo!!!! I need an update on this manner. Please answer if you have any truthful accounts on this situation! Thanks.

please I need some info on this as well. I would also like to know if you are applying for the may semester or the sept semester I was told last week that this matters in the loan process right now.

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Doctor 21

"You can only be as good as the goals you set for yourself. If you let God be your light and follow your dreams, you will never fail".


"There are some people who put you down in life, mock your dreams, and challenge your personality; they look like winners. But in actual fact, they are only voicing out their insecurities and jealousy. Do not let them pull you down. Believe and accept yourself and hold onto what you believe in".

This is for everyone.... there is no need to worry. I spoke to ******** at IEFC and asked for specific details about this situation, and was assured that this will not affect our students loans. Students may still apply for student loans, TERI just filed for a chapter 11 bankruptcy, which is ultimately for their protection of assets, ect. Please do your research as to what a chapter 11 bankruptcy is, and there is no need to worry.


Good luck with finals.

i also called and was told the same as darlyn3, so hopefully we wont take a hit.

i just got my teri loan approved on sunday, so they're still dishing out the mulah....praise the good lord jesus above!

If you don't mind me asking did you get a co-signer or did you do it by yourself and how long did the whole process take? Are you for the May term or the Sept. Term? I am looking to start my process, but I am a little unsure.

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Doctor 21

"You can only be as good as the goals you set for yourself. If you let God be your light and follow your dreams, you will never fail".


"There are some people who put you down in life, mock your dreams, and challenge your personality; they look like winners. But in actual fact, they are only voicing out their insecurities and jealousy. Do not let them pull you down. Believe and accept yourself and hold onto what you believe in".

I applied Credit Ready. Definitely do not have a co-signer. It was for this coming May semester and the process took 2 days...dispursement date is set up by the school.

"We regret to inform that your current application with TERI and their lenders, Wachovia and Bank of America has been canceled as of Tuesday, April 22, 2008. Unfortunately, due to unforeseen developments in the student loan credit markets, both of TERI lenders have decided not to continue funding ISLP applications. It’s not only the University of Sint Eustatius students being affected; it’s all the international schools that dealt with TERI."
what do we do now???

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Cindy
Rutgers University-Newark College of Arts and Sciences- Alumni

Were you already approved or just applied?