PDA

View Full Version : direct assistance program



medskoolhopeful
05-06-2008, 08:07 PM
does anybody know if the direct assistance program loans that will be starting at some point need to be paid back within 90 days of graduation just like the tuition assistance program? if so how is this possible to do? even for just the tuition assistance program, those of u who are taking that, how do u intend to pay it back within 90 days? thanks guys

Mike77
05-06-2008, 10:30 PM
Currently, there doesn't seem to be much information available. I was told the other day that more information will be released in the next few weeks. Hopefully someone will post here when they hear the details...

-Mike

sxamei
05-08-2008, 07:15 PM
does anyone know if we have to start applying for the sept 2008 semester already for the direct assistance program?

butterflymd
05-08-2008, 07:30 PM
According to SMU the program should be finalized in the beginning of June or July

thomasfx10
05-08-2008, 10:42 PM
SMU? Do you mean SABA or did you post in the wrong forum

sxamei
05-09-2008, 03:01 PM
According to SMU the program should be finalized in the beginning of June or July
Thanks~! =)

Alz84
05-28-2008, 03:00 PM
I just emailed the financial aid office on Monday and someone responded to me saying the direct assistance program should be in place for September students...no details on the program though...fingers crossed

Mike77
05-28-2008, 04:09 PM
I just emailed the financial aid office on Monday and someone responded to me saying the direct assistance program should be in place for September students...no details on the program though...fingers crossed

I dont want to copy and paste the email I got for confidentiality reasons, but it basically said that they are going to offer a program, and they are trying to work out deals with other lenders to get the students here covered. She made it seem like there was nothing to worry about, we woudln't need a cosigner, and mentioned something about 'people that are eligible'. I wrote a followup email to figure out what that means, but i'm guessing it means you tried alternative routes first and have some kind of a credit rating (no bankrupties, nothing REALLY low, ect.).

I'll let ya know.

KingMo
05-28-2008, 08:55 PM
Thanks Alz and Mike77 for the update. They're cutting it close...Hopefully they're not just messing with us and giving us a run around.

JLea
05-29-2008, 05:05 AM
Thanks Alz and Mike77 for the update. They're cutting it close...Hopefully they're not just messing with us and giving us a run around.

What? Saba give someone the run around? Naw, that'll never happen...

Mike77
05-30-2008, 06:02 PM
That would really only be a temporary solution. I've come to a reasonable conclusion that Saba can NOT survive on only rich kids/people with incredible credit ratings. Even if they could make ends meet with these students, any school that would accept students purely on financial grounds would have such a crappy pass/match rate that the reputation would be destroyed.

Saba's future depends on good students going there. If Saba was one of the crappy Carribean med schools, then my previous statements would be wrong. Considering the school is starting to get some really strong matches, I think that they would do anything they can to keep this trend going. In short, if they can't give their students loan options, their rep as one of the best international med schools will be completely gone.

wolfvgang22
06-01-2008, 09:08 AM
Good points, mike77. Another thought: if the number of financially self-sufficient, high quality students were an issue, EIC could downsize in the future by merging the schools of MUA, SMU, and Saba. So I doubt EIC is overly concerned about quality control just yet.

Mike77
06-01-2008, 09:57 AM
Good points, mike77. Another thought: if the number of financially self-sufficient, high quality students were an issue, EIC could downsize in the future by merging the schools of MUA, SMU, and Saba. So I doubt EIC is overly concerned about quality control just yet.

I'm not sure what you mean by that. I figured that from a 100% financial perspective it would be their only option. Think about it, if they lose their quality control, then within a couple years none of the 'rich kids' or 'kids with great credit ratings' would want to go. If the credit crunch was that bad, they would go to the best school for their money.

HopefulMD21
06-01-2008, 02:19 PM
Does anybody know WHY Saba, which seemed to be a reputable Caribbean school with good accreditation, suddenly lost loan coverage? And is it correct that they are now completely ineligible for any kind of federal loans? ...Scary thought, makes me wonder if the other "big 3" are headed downhill next...

KingMo
06-01-2008, 05:25 PM
Does anybody know WHY Saba, which seemed to be a reputable Caribbean school with good accreditation, suddenly lost loan coverage? And is it correct that they are now completely ineligible for any kind of federal loans? ...Scary thought, makes me wonder if the other "big 3" are headed downhill next...

Saba never had federal loans, for reasons unknown to us.

As far as the other private loans, we're not the only ones who lost it. The economy basically took a hit and restricted a lot of people and schools (foreign and domestic) out of private loans.

Mike77
06-02-2008, 12:24 PM
Saba never had federal loans, for reasons unknown to us.

As far as the other private loans, we're not the only ones who lost it. The economy basically took a hit and restricted a lot of people and schools (foreign and domestic) out of private loans.

I called a couple banks in Canada and they told me I would almost for sure need a cosigner. I never even mentioned where the school was.

saider2
06-05-2008, 09:45 PM
SABA is not on Federal Loan program b/c of the legislation that was passed back in '90s preventing future qualification of any foreign schools for federal loan program. There was also a provision that allowed schools that were on the eligibility list (such asAUC, Ross and SGU) then to continue receiving these loans. SABA was young then and was a year or so short away from approval for federal loan program when this legislation was enacted.

There is a legislation (S.1642) which was passed in the senate and currently in house to repel the old legislation. Please support it. Contact Saba Finance office for more info.

covarubious
06-06-2008, 02:12 AM
wow, great info!! all you americans call your congressman ;)


SABA is not on Federal Loan program b/c of the legislation that was passed back in '90s preventing future qualification of any foreign schools for federal loan program. There was also a provision that allowed schools that were on the eligibility list (such asAUC, Ross and SGU) then to continue receiving these loans. SABA was young then and was a year or so short away from approval for federal loan program when this legislation was enacted.

There is a legislation (S.1642) which was passed in the senate and currently in house to repel the old legislation. Please support it. Contact Saba Finance office for more info.







Copyright © 2003-2018 ValueMD, LLC. All rights reserved.