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Thread: AUGUST 2012 accepted ---BOLM Loans, TUITION HIKE and more!!

  1. #1
    mirzatech is offline Newbie 510 points
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    AUGUST 2012 accepted ---BOLM Loans, TUITION HIKE and more!!

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    Hello fellow AUA August 2012 accepted people...

    I have been monitoring the forums for some time and do not see any recent posts with newer info or updates especially tailored for people starting August 2012 semester 1. So Please all who are accepted, and alumni, please give any new updates.

    I am currently waiting on an ever elusive Financial Aid Package so I can start applying for the loan at BOLM. I haven't done any shopping in terms of materials and preps since everything for me depends on being approved for the BOLM Loans (will be applying with father as cosigner who has a credit score of 750). and JUNE is already ending...!

    And to add salt to the injuries, we have the grand tuition hikes...at AUA...

    So I highly urge all to contribute and share so we can help each other out...!

    thanks...

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    smhmd51 is offline Newbie 510 points
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    Quote Originally Posted by mirzatech View Post
    Hello fellow AUA August 2012 accepted people...

    I have been monitoring the forums for some time and do not see any recent posts with newer info or updates especially tailored for people starting August 2012 semester 1. So Please all who are accepted, and alumni, please give any new updates.

    I am currently waiting on an ever elusive Financial Aid Package so I can start applying for the loan at BOLM. I haven't done any shopping in terms of materials and preps since everything for me depends on being approved for the BOLM Loans (will be applying with father as cosigner who has a credit score of 750). and JUNE is already ending...!

    And to add salt to the injuries, we have the grand tuition hikes...at AUA...

    So I highly urge all to contribute and share so we can help each other out...!

    thanks...
    dude, i feel your pain. all i've done thus far is send in the deposits (tuition and housing). planning on booking a plane ticket soon, and im also in your boat in regards to the loan. im pretty lost.

    can anyone shed some light on how much we can potentially take out for the loan and whether it will also cover the housing costs?
    also regarding the books -- should we buy them now? the only book list i have been provided with is the one from fall 2011. have they changed?
    also once the airplane lands on august 11, then what? do we go directly to the housing?

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    drrichand1 is offline Junior Member 512 points
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    does aua have federal loans?

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    Shonk is offline Junior Member 515 points
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    Negative on Federal loans, but they have a variable rate loan program through the school, beggars can't be choosers right? Don't fret too much about the tuition hikes. Whether it's undergrad in the US or medschool in the Caribbean, every year you'll see increases. I think AUA's reasoning behind it is to expand since the Cali approval, just speculation. As for the loan situation? It's always going to be a headache, just get used to it. But as far as departments go at AUA, the people who help with loans are usually very helpful. Don't get too worried, it usually always gets processed "in the nick of time". The problem I ran into with the loans is that the disbursement date would be several weeks into the semester, so I had to always bring a substantial amount of cash with me initially, til the loan was disbursed. I'm not sure if it's different for you guys on the island, but I'm assuming it is. So you might need to plan ahead for that situation. When you get to the island for the 1st time they have an AUA booth outside the airport entrance. You just go there and "check-in" and they give you a packet of into and then a shuttle/taxi takes you to your specific dorm. I did this back in 09', so I'm not sure if they've tweaked that situation or not. Anyway, g'luck on all of this...you will definitely run into a lot "interesting" situations during your stay in Antigua, whether it's school or non-school related. For me it was mostly positive, make sure you take advantage of living in the Caribbean...
    Fellow / Interventional Neurology

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    sarcomere700 is offline Member 524 points
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    so i spoke with one of the financial aid reps at AUA about 2 weeks ago. he told me that if i hadn't received anything for the loan application by july 4 to contact them again. he also informed me that the reason i haven't received (and everyone else) the application is that they are still working out the terms of the loan agreement with the bank. he told me that the maximum loan amount is $20,500. maybe that amount will go up...i pray not down!

    with the tuition increase to $14,850 and housing being $3900, $4500, and $5100 it makes it a bit difficult (but not impossible, depending on how much you want to play) to live.

    the MBA program will give you a POSSIBLE maximum loan of $7000...or it might be $8000 which i think it is. you take one class a term that comes out to $1702 (non-resident tuition and fees). you get the rest in a refund, you guys know how that works. anyway, it's federal funding so if you have any undergrad federal loans, it will make it so you don't have to pay them while in the MBA program. i think if you just get the BOLM loan, past student loans will still have to be paid...i'm almost positive on this but not %100. i believe the reason behind this is because AUA doesn't yet have federal funding.

    anyway, i hope this helps! any false information i'm sure will be met with the utmost contempt as seems to be way of things on valuemd!


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    mirzatech is offline Newbie 510 points
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    Quote Originally Posted by sarcomere700 View Post
    so i spoke with one of the financial aid reps at AUA about 2 weeks ago. he told me that if i hadn't received anything for the loan application by july 4 to contact them again. he also informed me that the reason i haven't received (and everyone else) the application is that they are still working out the terms of the loan agreement with the bank. he told me that the maximum loan amount is $20,500. maybe that amount will go up...i pray not down!

    with the tuition increase to $14,850 and housing being $3900, $4500, and $5100 it makes it a bit difficult (but not impossible, depending on how much you want to play) to live.

    the MBA program will give you a POSSIBLE maximum loan of $7000...or it might be $8000 which i think it is. you take one class a term that comes out to $1702 (non-resident tuition and fees). you get the rest in a refund, you guys know how that works. anyway, it's federal funding so if you have any undergrad federal loans, it will make it so you don't have to pay them while in the MBA program. i think if you just get the BOLM loan, past student loans will still have to be paid...i'm almost positive on this but not %100. i believe the reason behind this is because AUA doesn't yet have federal funding.

    anyway, i hope this helps! any false information i'm sure will be met with the utmost contempt as seems to be way of things on valuemd!
    thanks for the helpful info. I know they are working on getting the applications goin, but my situation is that I am currently working at an awesome company (to say the least) as a temp and they are asking me to go fulltime with all the bells and whistles...and I have to respond to them in one week. If I had any solid info on the loans, it would mean that I would be able to attend AUA this semester and hence I would leave the company, but I don't want to jeopardize my post (in this terrible economy)...if I don't get approved for the BOLM loan (shudders!) .
    then all the other worries come after this one.

    I really really hope they can come up with something by next week (of jul 2nd).

  7. #7
    Dr Becker is offline Junior Member 510 points
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    I just finished med 1. I was in the same situation as you before I came here. The only way I could attend is with the loan, but the way they do it, you can't apply till a month before, and find out only several wks before starting. From what I've observed and gathered from classmates, as long as you have the GPA req and a 675 credit, you WILL get approved. True, the interest sucks, and you have to pay interest on the sem 1 and 2 loans, but after that they're deferred. But plan accordingly b/c it will ballpark around $200/mnth in interest, then totaling $400/mnth after you get into med 2. This will remain from then until it's pd off. So just make sure you have that budgeted. The loan covers basically tuition and housing. All food and living expenses are out of pocket. Ends can be met w/ the master's program. But it will be tight. Oh, and like mentioned above, the loan typically takes a few wks to disperse. 6 wks in my case last sem. And you'll need to set up a bank acct here w/ Scotia bank b/c the refund (if you get one) has to be deposited here. If you have expensive dorm housing no worries, it will get eaten up there. Anything else, let me know...

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    mirzatech is offline Newbie 510 points
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    ED-INVEST !!!!

    Just got an email from AUA has now partnered with ED-INVEST!! Its superior?
    Can someone shed some light as to what it means for us.compared to BOLM ??

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    smhmd51 is offline Newbie 510 points
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    apparently ed invest is fully deferred whereas bank of lake mills isn't. other than that, i have no clue. can anyone shed some light on this?

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    amkakar is offline Junior Member 511 points
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    From what I gather, you only have to apply to the Ed Invest loan one vs. 2X or more with Lake Mills. However, I have also heard that the rates of Ed Invest are horrible and not favorable towards students.

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