Thread: No funds for january

I just received an interesting call today:
They are going to refund the $500 seat deposit as well as $1000 Housing Fee. And here is the kicker..."They DON'T feel confident they will be able to find a lender for the January 2010 semester." This came form Director of Admissions. So the option of defferment, was really not an option.

And while on the phone, I asked, how many new/returning students are in attendence. "Only, 8 or so from the 1st semester, only a few 2-5 sem did not return." REALLY?

WHAT THE 5UCK?

I have heard exactely the opposite of what you posted...

Can't be completely opposite...I just deposited my 1500 in the bank.

Regardless of what was said...I'll put my money on no funds, you know, because of the complete collapse of the economy. An almost NO loan companies are funding schools. Sarcasm, in case it's lost over the internet. I love those Ed-invest emails.

Originally Posted by MaxPower311

Can't be completely opposite...I just deposited my 1500 in the bank.

Regardless of what was said...I'll put my money on no funds, you know, because of the complete collapse of the economy. An almost NO loan companies are funding schools. Sarcasm, in case it's lost over the internet. I love those Ed-invest emails.

We got the email today confirming that there will be no Ed Invest for fall (as if that was really a surprise).

Forget about the collapse of the economy, Max (I think I get your sarcasm but I might be wrong?). According to the news, credit markets are freeing up. My credit card hasn't offred me an increase in credit line in a long time but they upped it last week by $2000. The market may be bad, but it is getting better and this Ed Invest situation runs much deeper.

The guy who is in charge of Saba is a big guy at R3 and he also happens to be the OB director at my hospital. I am not spreading rumors here- we were told that Ed Invest reviewed Saba, MUA, and SMU, and dropped SMU for 2 reasons- high fail-out rate and too many students defaulting on loans. This comes from a guy who works for R3. No reason for him to lie.

Some of the school officials really hate this forum. This question is for any first semesters who were at orientation on Aug 31: did they tell you what I just said? That SMU was dropped specifically because it is considered high-risk? Or did they hand you the crap about the economy? If they told you that it was only because of the economy, they're lying. Plain and simple. The problem with loans runs much deeper than the economy and is a very scary problem indeed. Don't bury your heads in the sand and believe that everything you read on here is crap. I don't have any reason to lie or bash the school either...I'm in the school. Know what is going on and don't be afraid to ask them hard questions...but always...be respectful and professional. You have a right to know.

The director of admission said, and I am quoting, "I do NOT feel confident in SMU being able to secure a lender for the Spring Semester"

And said, "VERY few students were unable to attend because of the lack of Financial Aid."

If you heard the opposite, then we have 2 versions of 1 story, what is the truth?

I agree with Chris. I have a background in finance. You can read my earlier post, that the economy is down from a hard hit, but IS on an upswing (although, it does have a LONG way to go). Or just Google it for yourself. Also President O just INCREASED the Pell Grant, and is subsidizing my loans for single mothers, and technical trades. This is a FACT! Again Google this for yourself. So, if ed-invest and other lenders feel SMU is high-risk. What is the future of SMU?

If people were able to gather enough money to get by this semester in these hard economic times, I doubt they will be able to do it again in 4 months.

If your an administration reading this... Please post the TRUTH, I need/want to be proven wrong.

Originally Posted by christophernj

The market may be bad, but it is getting better and this Ed Invest situation runs much deeper.......we were told that Ed Invest reviewed Saba, MUA, and SMU, and dropped SMU for 2 reasons- high fail-out rate and too many students defaulting on loans. This comes from a guy who works for R3. No reason for him to lie....That SMU was dropped specifically because it is considered high-risk? Or did they hand you the crap about the economy? If they told you that it was only because of the economy, they're lying. Plain and simple. The problem with loans runs much deeper than the economy and is a very scary problem indeed. Don't bury your heads in the sand and believe that everything you read on here is crap.

Yeah that was what I was trying to say..that the economy excuse was **, and that it had just as much to do with the problems in the school I was afraid that would come across wrong lol.

You're absolutely right. I just get the feeling that a lot of the school's cheerleaders are lying to themselves.

Hello All,

I am not saying i have the holy truth, i am saying that i heard they were trying to secure funding for January.
The market might be better but there is no cash available to lend to anyone, that is a fact and it is worldwide.
As for SMU being dropped as opposed to SABA or MUA, you cannot compare the three.
SMU loans are 20M/year when the other two are less than 3....
That explains why they could secure 3 but not 23M.

my two cents...

Have a nice wend,

Sorry Mr. G, all due respect, but a man who works for R3 and works side by side with Ed Invest people told us that SMU was dropped for the reasons I listed.

If there are any administrators who are reading this and are unhappy, please, I am sure you know the person I am speaking of. Take it up with him. If he is lying, please expose him. If not, make sure the students know exactly what happened with Ed Invest. That is all I ask.

Its all about money.SG is right. while its true that smu prob has higher drop out and default rates thats because they have twice the size as the other schools ed invest supports.The dropout rates are prob worse at some of the other big 4 schools that admit 400+ a semester but they have the worldwide recognition and federal loans.Its always about money no one cares anything else.