View Full Version : How much will one owe to Ed-Invest with interest?

Confused 20
06-05-2010, 09:50 PM

06-06-2010, 03:45 PM
Do most individuals feel that Saba is utilizing the idea that they will soon be getting federal loans as a ploy to continue to lure American students to their school?

They've been saying this poop for the past four years...and it still hasn't happened. Fortunately, I'm done. But if I had to do it all over again in the current circumstances, here's my take on it...

1) SGU, AUC, Ross, and Saba are all four very viable options. According to van Zanten, et al. 2008/2009, SGU has the highest pass rates of boards. SGU, AUC, and Ross are the oldest schools, and most reputable. I wouldn't be disappointed if I randomly landed at one of these big four.

2) Saba is cheaper in the short run. But if you need loans, Ed-Invest is a terrible option. The interest rates are ridiculously high, with upfront fees equally ridiculous. Consider the fact that while the other schools all have higher tuition, the federal loans (with the much lower interest rates) may offset any savings that Saba currently offers you. I haven't crunched the numbers, but you definitely should to see exactly what your loans will end up costing you after 4 years of medical school and 3 to x number of residency years when you will likely defer your loans.

3) If you're not good at math, google "loan interest rate calculators" and plug in some ballpark numbers to get an idea of what the cost differentials will be at the end.

4) Even if the big three costed $20,000 more in the long run, peace of mind knowing that you have loans available for all four years is priceless. Especially when you're in the middle of your fourth year and the school threatens to kick you out, the last thing you want to worry about is where to scrape $10,000 for tuition. Just ask the people who went through this last year.

So the moral of the story is that unless you have your finances straight for the next FOUR years (which most students do not), this poopty Ed-Invest singular loan option for Saba is a dealbreaker. Without money, you're screwed...period. That's not a boat you want to be sitting on in the middle of fourth year. You'll have enough other poop to be worried about, trust me.

07-25-2011, 06:01 AM

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