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  1. #1
    texas13 is offline Newbie 510 points
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    Important AUA loan questions

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    Hey guys! I was a student at Ross and was unfortunately dismissed at the end of my 3rd semester. I feel like AUA is a good school to continue my medical school education as my credits from Ross will be transferred. However, I am really worried about the loan situation at AUA. I am already under alot of loan from Ross and I heard that AUA doesn't offer any federal loans. I cant depend on my parents to pay for AUA so I will definitely have to take the private loans AUA offers

    - What has your experience been with the Bank of Lake Mills Education Loan?
    - It says on the AUA website that the loan only covers tuition, how do students get assistance for the cost of living?
    - Do I have a good chance for getting accepted for the loan? I am currently about 120k in debt from Ross

    AUA is my last hope and I would really appreciate some feedback from you all. Thanks!
    Last edited by texas13; 02-15-2014 at 05:58 PM.

  2. #2
    Farantino's Avatar
    Farantino is offline Junior Member 510 points
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    I spoke to a rep from AUA and you can get the loan that they speak of but only for the first 2 years of your education. when you're doing your rotations you'll be in the states and you'd have to find a source of funding different from what they list on their website. You can get the funding, but it's going to be dependent on your credit (more than 700) and also the rates will be higher than federal.

  3. #3
    mg77 is offline Newbie 510 points
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    If you are an american citizen then use Stafford and Grad Plus loans.

  4. #4
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    auastudent1 is offline Junior Member
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    Quote Originally Posted by texas13 View Post
    Hey guys! I was a student at Ross and was unfortunately dismissed at the end of my 3rd semester. I feel like AUA is a good school to continue my medical school education as my credits from Ross will be transferred. However, I am really worried about the loan situation at AUA. I am already under alot of loan from Ross and I heard that AUA doesn't offer any federal loans. I cant depend on my parents to pay for AUA so I will definitely have to take the private loans AUA offers

    - What has your experience been with the Bank of Lake Mills Education Loan?
    - It says on the AUA website that the loan only covers tuition, how do students get assistance for the cost of living?
    - Do I have a good chance for getting accepted for the loan? I am currently about 120k in debt from Ross

    AUA is my last hope and I would really appreciate some feedback from you all. Thanks!
    I find myself in a similar situation. Weigh your options with care
    Last edited by auastudent1; 06-10-2014 at 07:14 AM.

  5. #5
    insertwittyusername is offline Newbie 510 points
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    Would someone please explain how the BOML loan works? I got accepted to both AUA and UMHS. The tuition for AUA is around $17,000 while for UMHS its around $9000. I did not get the full loan from Sallie Mae to attend UMHS. I will have to pay around $4000 out of pocket to cover living expenses. What worries me is Sallie Mae rejecting my loan for next year again. Does BOML cover the entire loan amount? If I have a 2.75 GPA or above the upcoming semester and my cosigner's credit score remains the same, do you think it would not be a problem to receive loan from BOML?

  6. #6
    Farantino's Avatar
    Farantino is offline Junior Member 510 points
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    Quote Originally Posted by insertwittyusername View Post
    Would someone please explain how the BOML loan works? I got accepted to both AUA and UMHS. The tuition for AUA is around $17,000 while for UMHS its around $9000. I did not get the full loan from Sallie Mae to attend UMHS. I will have to pay around $4000 out of pocket to cover living expenses. What worries me is Sallie Mae rejecting my loan for next year again. Does BOML cover the entire loan amount? If I have a 2.75 GPA or above the upcoming semester and my cosigner's credit score remains the same, do you think it would not be a problem to receive loan from BOML?
    What is BOML?

  7. #7
    Arkie, M.D.'s Avatar
    Arkie, M.D. is offline Elite Member 6139 points
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    Quote Originally Posted by Farantino View Post
    What is BOML?
    It's BOLM (Bank of Lake Mills)
    Step 1 [x] Step 2 CK [x] Step 2 CS [x] Prematch [x] M.D. [x] Step 3 [x] PGY-1 [x] PGY-2 [x] PGY-3 [x] ED Attending [2015-]
    ☤ + ☭ = N
    Liberty or Death


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