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krust3
09-06-2009, 06:54 PM
what the hell.

Ed-Invest leaves 20+ students stranded midway into our last @#$%^&* semester.

NICE. all i did was apply on time, sit around waiting for over a month with no answers upon repeated phone calls to Saba.

went ahead and got the Davenport loan, but that won't come in till end of November. Meanwhile i'm getting harassed by the front office about paying tuition or they'll yank me during my last friggin semester.

Sure would like Saba Admin to secure some legit lenders or whatever it's gonna take to allow us to continue our studies.

smu200
09-07-2009, 12:29 AM
oh wow...now SABA is also affected on this mess. Now SMU will never learn and make up excuse that look such a prestigious school like SABA is also affected with this loan mess. So don't expect us to fix this situation anytime soon. DAMN ED-INVEST

azulpanther
09-07-2009, 01:32 AM
so what exactly happened ?

krust3
09-07-2009, 09:24 AM
beats me man. for all i know they're out of the game, BUT more than likely Ed Invest just hit their cap for how much they're dispensing this semester.

i'm just steamed that we were totally left out to hang. i'm mean, i was just checking my bank account occasionally waiting for that money to come in cause every time i called the school they kept saying we dunno what the delay is, ETC.

At some point you just gotta read between the lines. the kicker was the threatening email demands for tuition payment.

Man i picked saba cause it wasn't a ripoff like st. george and ross, but at least their students don't have to burden themselves with how they're gonna pay for each upcoming semester.

If i secure some loan for this final semester, that will be 4 loan companies i've used to finance medical school! i'm pretty sure that means 4 loan checks once i'm done too.... sweet.

May2009SabaStart
09-20-2009, 09:43 AM
Besides the 20+ 5th semester students that this affects, there are also many in other semesters as well. This is not a small problem, if any applicants are reading, as the administration may claim. I am not taking Ed-Invest loans currently, and am hoping to be able to do without. Those with the problems are, besides being threatened with un-enrollment, are not being told where the problem lies and have no way to attempt to remedy the situation. The administration, president included (I heard this with my own ears), has told the students in this situation to find another source of funding (ask parents, friends, ect.) or just drop out until a loan source comes through. That is really hanging out the students to dry, as they take a considerable loss in just leaving the island and trying to come back, not to mention the fact that once their enrollment ceases, they are responsible to begin paying the already borrowed money back. In other words, they would have to find a job, and hope that they could restart classes in 4 months. I'm not accusing the administration of not looking for a solution, I'm saying they're not finding a solution. The other thing for potential applicants to consider is that one cannot transfer to another of the better Caribbean schools from Saba (St. Georges, AUC, Ross). Therefore you're stuck. The reverse is not true, we have a transfer from St. George's in our semester. If the school comes up with a solution for these applicants, I'll retract my post and give them the praise they deserve. Otherwise, I'll be perfectly candid in all future post or correspondence I have with anyone about the school.

felinescience
09-21-2009, 03:12 AM
Ed-Invest decided that since I paid my first semester tuition in full without their assistance, they would not give me the loan amount that they originally stated that they would and would only give me a living allowance. This put me in a rough spot because I borrowed money to pay my tuition and living expenses until Ed-Invest dispersed their anticipated larger amount loan money to me. I had to do this because I could not register at Saba University until I had paid 100% of the tuition. I was also required to pay 100% of the dorm up front. There was a problem with my credit card company putting a hold on the amount that was going through on it from a foreign company, so I was charged a per diem percentage fee (I think this amounted to paying 103% of the original fee). They finally dispersed the loan money several weeks into the semester.

In my second semester, the school lost my (and several other students') loan paperwork and it was over a month into the semester before I got my Ed-Invest loan money. I had to work and this jeopardized my grades.

Since I had to retake a course, Ed-Invest will no longer provide loan money and instead of taking five semesters to get out of here, it will take six because the school puts you on a reduced load for two semesters. Luckily, I received private financing, so I never have to deal with Ed-Invest again (and my APR is 7% lower with no origination or other crazy fees). I feel sorry that the school is harassing other students because the bank they are in bed with has decided to yank the covers off of the students of Saba and leave them in the cold. Since I am hearing this information second-hand, I can only hope that there is more to this story than the shameful side that has been portrayed to me.

Moral of the story: Don't come to Saba if you expect for Ed-Invest to help you pay for your education, unless the administration remedies this situation. Soon, however, US government loans should be available (see enclosed information below) and hopefully the loan situation will be less shifty. There will not be a shortage of people applying here, but their makeup will shift towards a higher percentage of students who have wealthy families or are wealthy themselves.

This is not the inexpensive island (when compared to nearby St. Maarten or most of the United States) that was portrayed to me before coming here...AND you must pay additional ferry or airplane fees to leave Saba for St. Maarten before you can go to any destination besides Statia, so make sure you add that into the funds that you expect to burn through while you're here (you may think you can spend an unlimited amount of time on an island in paradise...but it's roughly the size of the Indy 500 track and has 0.25% of the track's race-time population). The high cost-of-living combined with the lack of a reliable loan system and a recent, sharp increase in tuition is something that would have made me think twice about coming here if I had a crystal ball.

Notice that I am not speaking one bit about the academics. It's sad when the day-to-day minutiae of trying to deal with finances here (and I count myself as one of the lucky ones) overshadow the REAL reason I came here in the first place. I'm not saying you shouldn't attend Saba University, I'm just saying that you should make sure that before you arrive on the island you have at least one semester of tuition (plus $1000 to allow for any tuition increase) and living expenses in the bank in case of emergency.
================================================== ===
An email sent to Saba students:
President Bush has recently signed into law H.R. 4157 - The Higher Education Opportunity Act. This bill incorporates a key amendment to currently existing legislation which heretofore had restricted Title IV financing to only four Caribbean medical schools.
While the language in the Higher Education Opportunity Act (“HEA”) does not immediately grant Title IV eligibility to Saba, it does set up a process for Saba and other select foreign medical schools with a clinical training program approved by a State on or prior to January 1, 2008, to gain Title IV eligibility over the course of the next two years. All other foreign medical schools that do not meet this criterion will continue to be ineligible.

Saba and the small group of other universities who are qualified to earn Title IV eligibility under H.R. 4157 will work closely with the Department of Education as it crafts its recommendations and guidelines for Title IV eligibility. The recommendations and guidelines will take into consideration key performance metrics that quantify the success of the university’s students. After the Department of Education has finalized its recommendations and guidelines, it shall propose eligibility criteria regulations.

While much work remains to be done, a clear path now exists for Saba students to become eligible for Title IV financing. Your efforts in writing letters to Congress, coupled with the dedicated lobbying efforts of our parent company R3 Education, have resulted in a major legislative breakthrough for Saba. Thank you so much for your ongoing commitment to the success of the Saba University School of Medicine.

Schnabel
09-28-2009, 05:11 PM
felinescience- are you allowed to say where or how you were able to get a private loan? I am also looking for different sources. in case it happens to me.

californianmd
10-23-2009, 04:55 PM
Any Ideas Guys , when saba will be approved for U.S Fedral loans?

fouziam
10-29-2009, 05:34 PM
...
felinescience- are you allowed to say where or how you were able to get a private loan? I am also looking for different sources. in case it happens to me.
exactly... can you please let me know this info too , if its not against the law or something..lol... i really need to find some alternate sources before sending my deposit to secure my seat.

wolfvgang22
11-06-2009, 05:16 PM
This financial aid mess is a joke. If I had to do med school all over again, it is unlikely I could attend Saba due to lack of financial aid loans available. As it was, I barely made it out before all this happened.

It seems to me Saba may have plenty of wealthy applicants lined up, or they would have fixed this problem already. A shame, Saba offers a very good education.

Dr. Jay
11-19-2009, 11:43 AM
If i secure some loan for this final semester, that will be 4 loan companies i've used to finance medical school! i'm pretty sure that means 4 loan checks once i'm done too.... sweet.[/QUOTE]



what are the 4 different loan companies that you've used?

Dr. Jay
11-19-2009, 11:47 AM
Ed-Invest decided that since I paid my first semester tuition in full without their assistance, they would not give me the loan amount that they originally stated that they would and would only give me a living allowance. This put me in a rough spot because I borrowed money to pay my tuition and living expenses until Ed-Invest dispersed their anticipated larger amount loan money to me. I had to do this because I could not register at Saba University until I had paid 100% of the tuition. I was also required to pay 100% of the dorm up front. There was a problem with my credit card company putting a hold on the amount that was going through on it from a foreign company, so I was charged a per diem percentage fee (I think this amounted to paying 103% of the original fee). They finally dispersed the loan money several weeks into the semester.

In my second semester, the school lost my (and several other students') loan paperwork and it was over a month into the semester before I got my Ed-Invest loan money. I had to work and this jeopardized my grades.

Since I had to retake a course, Ed-Invest will no longer provide loan money and instead of taking five semesters to get out of here, it will take six because the school puts you on a reduced load for two semesters. Luckily, I received private financing, so I never have to deal with Ed-Invest again (and my APR is 7% lower with no origination or other crazy fees). I feel sorry that the school is harassing other students because the bank they are in bed with has decided to yank the covers off of the students of Saba and leave them in the cold. Since I am hearing this information second-hand, I can only hope that there is more to this story than the shameful side that has been portrayed to me.

Moral of the story: Don't come to Saba if you expect for Ed-Invest to help you pay for your education, unless the administration remedies this situation. Soon, however, US government loans should be available (see enclosed information below) and hopefully the loan situation will be less shifty. There will not be a shortage of people applying here, but their makeup will shift towards a higher percentage of students who have wealthy families or are wealthy themselves.

This is not the inexpensive island (when compared to nearby St. Maarten or most of the United States) that was portrayed to me before coming here...AND you must pay additional ferry or airplane fees to leave Saba for St. Maarten before you can go to any destination besides Statia, so make sure you add that into the funds that you expect to burn through while you're here (you may think you can spend an unlimited amount of time on an island in paradise...but it's roughly the size of the Indy 500 track and has 0.25% of the track's race-time population). The high cost-of-living combined with the lack of a reliable loan system and a recent, sharp increase in tuition is something that would have made me think twice about coming here if I had a crystal ball.

Notice that I am not speaking one bit about the academics. It's sad when the day-to-day minutiae of trying to deal with finances here (and I count myself as one of the lucky ones) overshadow the REAL reason I came here in the first place. I'm not saying you shouldn't attend Saba University, I'm just saying that you should make sure that before you arrive on the island you have at least one semester of tuition (plus $1000 to allow for any tuition increase) and living expenses in the bank in case of emergency.
================================================== ===
An email sent to Saba students:
President Bush has recently signed into law H.R. 4157 - The Higher Education Opportunity Act. This bill incorporates a key amendment to currently existing legislation which heretofore had restricted Title IV financing to only four Caribbean medical schools.
While the language in the Higher Education Opportunity Act (“HEA”) does not immediately grant Title IV eligibility to Saba, it does set up a process for Saba and other select foreign medical schools with a clinical training program approved by a State on or prior to January 1, 2008, to gain Title IV eligibility over the course of the next two years. All other foreign medical schools that do not meet this criterion will continue to be ineligible.

Saba and the small group of other universities who are qualified to earn Title IV eligibility under H.R. 4157 will work closely with the Department of Education as it crafts its recommendations and guidelines for Title IV eligibility. The recommendations and guidelines will take into consideration key performance metrics that quantify the success of the university’s students. After the Department of Education has finalized its recommendations and guidelines, it shall propose eligibility criteria regulations.

While much work remains to be done, a clear path now exists for Saba students to become eligible for Title IV financing. Your efforts in writing letters to Congress, coupled with the dedicated lobbying efforts of our parent company R3 Education, have resulted in a major legislative breakthrough for Saba. Thank you so much for your ongoing commitment to the success of the Saba University School of Medicine.



what was the private financing that you've used, if you don't mind sharing? I'm worrying about Ed Invest myself.
Also, are you saying that if you don't ask for the maximum amount for first semester, they will only provide you with the amount that you asked originally every semester?

surfkw
01-12-2010, 03:27 PM
As an incoming May 2010 student do I even bother applying for Ed-Invest or just start looking at other options?

fouziam
01-13-2010, 09:10 AM
i am in for may2010 aswell...same question is bothering me too... but as far as i know.. we dont have any other options..:(

jf633
02-01-2010, 03:46 PM
federal loans please







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