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View Full Version : !!NEW!! Ed Invest Loan



aspiringmedstudent
07-31-2008, 08:47 AM
The information is finally out, and we have a private loan available!

The limit is $15,000 and unfortunately, there is a whopping finance charge, ranging anywhere between 5-11% depending on your or your co-borrower's credit.

How nice is it that you apply for $15,000 and only get $14, 250 - $13, 350 and then you get to pay interest on the difference ?!

I suppose it's better than our options before (nothing)......

Student Loan Application Home Page - RLPC, L.L.C. (http://application.rlpcenter.com/)

mower1000
08-03-2008, 10:46 AM
Personally, the name Ed-Invest scares me a little bit. It sounds too much like Fred's Savings and Loan or something. I wonder if that came up during their first strategy meeting (LOL)?

Anyway, I hope folks will post their experiences or impressions with this lender over the next few months.

Thanks to all.

gaia3
08-03-2008, 10:53 PM
hi

i was wondering if anyone knows what the difference between this loand and canhelp is....i.e. which one would you recommend, cause i got accepted for canhelp already....and also i hear this one is not out for canadian citizens apparently!:S

jar22
08-04-2008, 03:19 AM
hi

i was wondering if anyone knows what the difference between this loand and canhelp is....i.e. which one would you recommend, cause i got accepted for canhelp already....and also i hear this one is not out for canadian citizens apparently!:S

yeah, i think its only for americans as of now.

jhf
08-04-2008, 04:25 AM
I called the office last week to see how much I should ask for on the loan application for jan 09 and they told me that the ed-invest was a temporary program for fall 08 only. They said that they would contact everyone else in the mail or email once they had something finalized for the rest of us.

jar22
08-04-2008, 12:08 PM
I called the office last week to see how much I should ask for on the loan application for jan 09 and they told me that the ed-invest was a temporary program for fall 08 only. They said that they would contact everyone else in the mail or email once they had something finalized for the rest of us.

you must be joking! I need to call them too and ask them about it. I was all excited already because of the aid we have...but thats definitely NOT a good news....

gumby
08-08-2008, 02:09 PM
This is me saying I told you so....;)

medicine2k6
08-08-2008, 03:39 PM
yea ed-invest is nothing to get too excited about...they are tough sometimes to get a loan through and they have high origination fee and interest rates. I hope everyone is thinking about consolidating later on. Seems like ed-invest is branching out to all the carribean schools. Saba, SMU, AUA, etc.

sxamei
09-01-2008, 05:46 PM
so has anyone gotten their loans approved from ed-invest yet? I submitted my loans about 2 weeks ago, and they haven't gotten back to me yet...

Schnabel
09-05-2008, 03:53 PM
Does that mean that Ed-Invest is not giving loans anymore?

Schnabel
09-05-2008, 03:54 PM
yea ed-invest is nothing to get too excited about...they are tough sometimes to get a loan through and they have high origination fee and interest rates. I hope everyone is thinking about consolidating later on. Seems like ed-invest is branching out to all the carribean schools. Saba, SMU, AUA, etc.
Can you say what the origination fee and interest rates are? do they vary based on your credit score?

Schnabel
09-05-2008, 03:56 PM
so has anyone gotten their loans approved from ed-invest yet? I submitted my loans about 2 weeks ago, and they haven't gotten back to me yet... I think the school has to verify that you are enrolled in the school before they approve or disapprove your loan. Are you at Saba or MUA?

ssclark93
09-11-2008, 10:20 AM
you must be joking! I need to call them too and ask them about it. I was all excited already because of the aid we have...but thats definitely NOT a good news....



I was told the same. The lady I spoke with also told me that Jan. '09 students could possibly start applying for the EdInvest in November '08. We'll see. Does anyone have any other ideas for loan options? I've called SallieMae international loan services, Suntrust, Wells Fargo, and a few others with no luck.

Ross09
09-11-2008, 02:54 PM
hey gaia3. how did you get approved for CanHELP. I thought CANHELP is not offering loans anymore. Can you pls elaborate or pm me.

jhf
09-18-2008, 07:32 AM
I got an email back yesterday from the school.

Apparently the ed-invest loans won't become available to January students until closer to the tuition deadline in November.

Regarding the federal loans, Saba has been approved but it will be a year or two until everything is completed. At least that's good news for US students in their clinical years.


Really wish they would let us apply for the ed-invest earlier. I don't want to buy a plane ticket until I have the loans guarenteed :(

Anyways, I figured I'd update everyone with what I was told.

jabee_usm
11-21-2008, 05:29 PM
Quick question, Do you have to pay a deposit for Saba to hold your seat? any other expenses in the beginning?

Bessee
12-02-2008, 10:32 PM
Hello Everyone
I am accepted for January 2009. However, i saw that the Ed-Invest loan has a veryyyyyyy high interest rate, that made me worry so much about the future. I am worried that with this high rate, i would stay my life paying loans. I would really appreciate it if you guys tell me , how are you paying? are you taking the loans? or what? I really need to know your opinions about that. I am very confused.

aspiringmedstudent
12-06-2008, 08:09 PM
I recently got an Ed Invest loan and their interests rates have increased tremendously since the last semester I borrowed the same loan.

My interest rate went from 7% to 11%. It's because they are now using the LIBOR + % rate based on credit. The lowest rate based on credit is 8.5%. So that means you're looking at at least around 10% interest rate. The LIBOR rate also changes every month, so who knows where it will go from here.

Beforehand they were using the prime rate + % rate based on credit. They have increased the rate from a few months ago and it's really frustrating how it can change that much!

Unfortunately there's nothing that can be done about it if you can't fund your own education. I wish there were a way around it - but I just hoping there is a huuuge change in the economy in the beginning of the year with the change is government and hopefully things still start to look up and we'll start to have more options.







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