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Thread: Student Loans

  1. #1
    byousif1 is offline Newbie 510 points
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    Student Loans

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    Can ANYONE give me good useful information as to student loans for canadian students. . . the finacial aid office of AUA really does suck and all they told me was "wait for an email which will be sent in april" this doesnt really help cause i start in may. . . plus i got to pay the seat deposit and housing deposit which are BOTH non refundable. So pretty much if the loan is declined or they charge a crazy intrest rate like 10%+ i would have just lost 1250 US dollars. If anyone can help me out that would be GREEAATT

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    emrbu8 is offline Member 510 points
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    If you go with the US company, the interest will have to be paid while in school, maintain a 2.5 (2.75 if you are starting out from undergrad), and the interest rate will be 6 - 10%. Try with a Canadian bank and try to get a line of credit. RBC is probably the most dependable in that sense. Do a search, this topic has been covered numerous times....Good luck!

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    ayastona is offline Member 510 points
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    Managing Money.. Mommy and Daddy's dime...

    for people who have actually been to the island...

    - is it possible to go entirely on loans for all those years? (basic sciences, clinical years, plus all the wait time which is almost expected w/ AUA now)

    - do most people at the school rely on their parents/other outside support/relatives or do they actually support themselves?

    being at Antigua and then coming back for rotations (which im guessing is gunna be in NY or Atlanta) sounds like its going to be alot of studying and hard work with little or no time for working side jobs to make money to eat/recreate/etc...

    in your opinion is it mandatory to have outside support for this education?

    EDIT:
    Also when taking the loans, do people take the loans semester by semester or all at once? im not sure how this works... any help appreciated...
    Last edited by ayastona; 03-18-2010 at 02:58 PM.

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    emrbu8's Avatar
    emrbu8 is offline Member 510 points
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    The Bank of Lake Mills Loans are awarded for 2 semesters at a time. Keep in mind you WILL be paying interest back (i.e. 6-10%) while in school. The school "recommends" you have outside support as the funds will not be enough to you get you through the semesters in terms of living expenses but it does pay your tuition at 100%. While I was on the island, the system was being changed, so I got the beginning of it before heading off the island.

    I'd say evaluate if that is something you can or are willing to do. My honest opinion is that while the Master's programs with Walden or Plymouth allow for more funding through both programs with AUA, but it's really not smart to start that in Med 1 as it actually does require time away from your studies to do the MBA work.

    In summary, look hard at your decision to come to AUA versus how much money or assistance you have from the outside, i.e. family or anyone....

    Good luck!

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    ayastona is offline Member 510 points
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    what about previous loans? i have loans from my undergrad years both federal and private.. will i be able to put them on defferment by attending AUA (since its an offshore school)?

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    Cyberia is offline Senior Member 515 points
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    Quote Originally Posted by ayastona View Post
    what about previous loans? i have loans from my undergrad years both federal and private.. will i be able to put them on defferment by attending AUA (since its an offshore school)?
    Call your loan company and ask. Only way to find out.

  7. #7
    pradeepK is offline Member 510 points
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    Quote Originally Posted by ayastona View Post
    what about previous loans? i have loans from my undergrad years both federal and private.. will i be able to put them on defferment by attending AUA (since its an offshore school)?
    every company has different policies... best thing is to contact the company and find out the process..
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