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Thread: Finanical aid

  1. #1
    drmatty is offline Member 49 points
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    Finanical aid

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    Is there way to cover the cost of full attendance with student loans? With combination of Masters program and Aua private loans?

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    iwanabmd is offline Member 516 points
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    loan recap

    short answer - yes. long answer - the exact details of the AUA have improved significantly (thank god) and the numbers are as follows - For MED1 to MED4 (on the island) you will recieve full tuition PLUS 3400 spend money. For MED5 - MED10 (off island) you will recieve full tuition PLUS 4400 spend money. now its up to you decide if this is enough spend money (it should be). The only catch is that you have to start paying back interest at a rate of 7ish to 9ish percent (much better than old loans) on your FIRST 2 loans, which will roughly be 300ish a month after the SECOND loans(150 for the first). now th einterest payments may be a stretch but they key is that if you can survive until MED5 and THEN start the masters program you will be SET. if you start the masters program in MED1-3 you will finish your masters 1-2 years before you finish med school and will be responsible to pay back those loans IMMEDIATELY WHILE IN MED SCHOOL WITH NO INCOME (so u decide if this seems like a good idea - the answer is NO btw)

    P.S. there are tons of threads for you to read on this forum just on loans and also AUA has info on the website
    STEP 1 [X] STEP 2 [X] STEP 3[X] PGY - 1 [X] PGY-2 [*]

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    Drdiego's Avatar
    Drdiego is offline Member 512 points
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    Loan

    I reluctantly did my loam today with BOLM. I had to gringe when I see 7.29% interest rate. I have a FICA score of almost 800. I think the score only matters for you getting qualified for a loan and not necessarily what rate you get.
    Last edited by Drdiego; 07-14-2010 at 06:45 PM.

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    siheg is offline Elite Member
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    Drdiego: are you a MED1 for Sept?

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    Drdiego's Avatar
    Drdiego is offline Member 512 points
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    Yes, I am.

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    Success001 is offline Junior Member 510 points
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    I agree ... my FICO score is 803 and Lake Mills approved me for a loan at 9.69%. Simply ridiculous !!!



    Quote Originally Posted by Drdiego View Post
    I reluctantly did my loam today with BOLM. I had to gringe when I see 7.29% interest rate. I have a FICA score of almost 800. I think the score only matters for you getting qualified for a loan and not necessarily what rate you get.

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    iwanabmd is offline Member 516 points
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    Be grateful for 7-8 percent interest rates these are very standard education loan rates. (obviously can not compare to government loans, but grad PLUS loans are 7.9%) the 9 - 10 rates obviously are not that great
    STEP 1 [X] STEP 2 [X] STEP 3[X] PGY - 1 [X] PGY-2 [*]

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    azulpanther's Avatar
    azulpanther is offline Moderator 696 points
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    Quote Originally Posted by Drdiego View Post
    I reluctantly did my loam today with BOLM. I had to gringe when I see 7.29% interest rate. I have a FICA score of almost 800. I think the score only matters for you getting qualified for a loan and not necessarily what rate you get.


    This is actually a very good rate. You are fortunate to get this rate
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    Srm688 is offline Newbie 510 points
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    Loan options?

    Hey, I got acceptance to school and found out I dont qualify for the Loan that Antigua offers. If not, what are some of my other options? I am sure others have been in this position before. I would appreciate your feedback. Thanks

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    Arkie, M.D.'s Avatar
    Arkie, M.D. is offline Elite Member 6139 points
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    Quote Originally Posted by Srm688 View Post
    Hey, I got acceptance to school and found out I dont qualify for the Loan that Antigua offers. If not, what are some of my other options? I am sure others have been in this position before. I would appreciate your feedback. Thanks
    There are no other options.

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