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  1. #1
    AdamBarnes9 is offline Newbie 510 points
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    Question about financial aid for AUC?

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    Hi there. I didn't know where to post this question so here seemed as good a place as any. I tried finding the answer to this question but couldn't. I was wondering if subsidized, unsubsidized, and GRADPLUS loans covered up to the full cost of attending AUC (that includes housing, food, etc.). Also, if they do, do any loans you may have taken out as an undergraduate student (even if they have been paid off) affect the limit of the subsidized or unsubsidized loans you may take out?

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    Phur's Avatar
    Phur is offline Member 535 points
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    Stafford and PLUS loans are more than enough to live comfortably, even border-line extravagantly for a single person. Someone with a SO +/- kids would probably have to budget a little more. But they don't really tell you til 4th or 5th that you are forced to take a leave of absence after leaving the island, so it's good to save some up for those few months.

    Fin aid at MEAS would for sure have the answer to your second question, but there's plenty of people who have taken financial aid for undergraduate, post-graduate classes/post-bacc's, and into medical school and haven't been cut off. I'm sure there's a limit at some point, but I've yet to hear of anyone reaching that point.

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    AdamBarnes9 is offline Newbie 510 points
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    Quote Originally Posted by Phur View Post
    Stafford and PLUS loans are more than enough to live comfortably, even border-line extravagantly for a single person. Someone with a SO +/- kids would probably have to budget a little more. But they don't really tell you til 4th or 5th that you are forced to take a leave of absence after leaving the island, so it's good to save some up for those few months.

    Fin aid at MEAS would for sure have the answer to your second question, but there's plenty of people who have taken financial aid for undergraduate, post-graduate classes/post-bacc's, and into medical school and haven't been cut off. I'm sure there's a limit at some point, but I've yet to hear of anyone reaching that point.
    Thank you. Your answer is reassuring. I wouldn't even need to live extravagantly. I have family in the states that tolerate me as well. On the FAFSA website, all I see about GRADPLUS loan requirements is that they determine "that you (the applicant) do not have an adverse credit history". "An adverse credit history is defined as being more than 90 days late on any debt or having any Title IV debt (including a debt due to grant overpayment) within the past five years subjected to default determination, bankruptcy discharge, foreclosure, repossession, tax lien, wage garnishment, or write-off. It does not otherwise involve your credit score."

    Is that accurate?

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    RfisherMD is offline Senior Member
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    I agree with Phur. If you are single, you should have enough to get through. But be aware that after your 5th semestser, you take a MANDATORY leave of absence for a semester to take Step 1. After this, you can schedule your clinicals, but also know that you must do 8 weeks of rotations in a semester to receive aid. Also, unlike during basic sciences (when everyone starts at the same time) your loans are not issued until you begin rotations. So, for instance, I am starting mine in June; I am a full time student during this Summer semester because I am taking more than 8 weeks of rotations, however I do not receive any loans until the middle of June! So, all of my savings needed to last me until this time. I was not aware of this and because I went to Falcon, I spent almost all of my savings from being a single student on Falcon and now am forced to skimp and live frugally for the next moth or so and hope for personal loans from family and friends to see me through and pay for my plane ticket to NYC. I called AUC, and they basically told me that they don't care! I am not saying all this just to whine or complain or anything; I want to try to make people aware that they need to plan and SAVE for this time period.
    AUC c/o 2013
    FM resident

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    RfisherMD is offline Senior Member
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    Quote Originally Posted by AdamBarnes9 View Post
    I wouldn't even need to live extravagantly.
    Very true, but be aware that a single room apartment or studio on the island is upwards of $1,100 plus per month. NY and the UK are not much better. So, not living extravagantly can add up too
    AUC c/o 2013
    FM resident

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    AdamBarnes9 is offline Newbie 510 points
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    Quote Originally Posted by Rfisher View Post
    I agree with Phur. If you are single, you should have enough to get through. But be aware that after your 5th semestser, you take a MANDATORY leave of absence for a semester to take Step 1. After this, you can schedule your clinicals, but also know that you must do 8 weeks of rotations in a semester to receive aid. Also, unlike during basic sciences (when everyone starts at the same time) your loans are not issued until you begin rotations. So, for instance, I am starting mine in June; I am a full time student during this Summer semester because I am taking more than 8 weeks of rotations, however I do not receive any loans until the middle of June! So, all of my savings needed to last me until this time. I was not aware of this and because I went to Falcon, I spent almost all of my savings from being a single student on Falcon and now am forced to skimp and live frugally for the next moth or so and hope for personal loans from family and friends to see me through and pay for my plane ticket to NYC. I called AUC, and they basically told me that they don't care! I am not saying all this just to whine or complain or anything; I want to try to make people aware that they need to plan and SAVE for this time period.
    Thanks for sharing your personal experience. Out of curiosity, is it possible to do all of your clinical rotations in the NYC area?

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    RfisherMD is offline Senior Member
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    Yes, It is very possible; most of out affiliated hospitals are in the NYC area. In fact, if you want to, you can complete all of your clinical rotations at one hospital (Nassau) in NYC.

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    dreileen is offline Member 515 points
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    Quote Originally Posted by AdamBarnes9 View Post
    Thank you. Your answer is reassuring. I wouldn't even need to live extravagantly. I have family in the states that tolerate me as well. On the FAFSA website, all I see about GRADPLUS loan requirements is that they determine "that you (the applicant) do not have an adverse credit history". "An adverse credit history is defined as being more than 90 days late on any debt or having any Title IV debt (including a debt due to grant overpayment) within the past five years subjected to default determination, bankruptcy discharge, foreclosure, repossession, tax lien, wage garnishment, or write-off. It does not otherwise involve your credit score."

    Is that accurate?
    They do a credit check each time you apply for financial aid and ANY derogatory credit reporting can be an issue, especially since the economy has had a downturn lately. You cannot be denied because of the amount of money you owe but anything that reports negatively (ONE 30-day late) may be enough to knock you out. I do think it could involve your credit score if you have a low one from bad debt which isn't the same as not having an established credit history.

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    AdamBarnes9 is offline Newbie 510 points
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    Quote Originally Posted by dreileen View Post
    They do a credit check each time you apply for financial aid and ANY derogatory credit reporting can be an issue, especially since the economy has had a downturn lately. You cannot be denied because of the amount of money you owe but anything that reports negatively (ONE 30-day late) may be enough to knock you out. I do think it could involve your credit score if you have a low one from bad debt which isn't the same as not having an established credit history.
    Well I don't have any of the things they mention or any debts but at the same time I don't have an established credit history so my score is around 660.
    Last edited by AdamBarnes9; 05-18-2011 at 07:37 PM.

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    OlReagan is offline Member 527 points
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    I had absolutely no credit history too, I got my loan just fine, don't worry.

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