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Thread: Financial aid

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    meddreamer is offline Newbie 510 points
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    Financial aid

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    Hi everyone,

    Can any of you help me out pleaseeeeeee!!??! Who is a current student and receiving student loans at MUA Nevis? I need help with this student loan process and I have a few questions for people who have already been through this and have done it. PLEASE help me out, I am in a shortage for time and need help asap..


    Question 1. Where can I get student loans from? And to what extent will these funds go, will it just be tuition or tuition + room/board and living expenses??

    Question 2. What is the average interest rate on these?

    Also what is the best option to fund your med school dream if you are unable to provide for yourself?


    PLEASE help please

    Thank you so much!!!

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    Med272016 is offline Junior Member 512 points
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    Quote Originally Posted by meddreamer View Post
    Hi everyone,

    Can any of you help me out pleaseeeeeee!!??! Who is a current student and receiving student loans at MUA Nevis? I need help with this student loan process and I have a few questions for people who have already been through this and have done it. PLEASE help me out, I am in a shortage for time and need help asap..


    Question 1. Where can I get student loans from? And to what extent will these funds go, will it just be tuition or tuition + room/board and living expenses??

    Question 2. What is the average interest rate on these?

    Also what is the best option to fund your med school dream if you are unable to provide for yourself?


    PLEASE help please

    Thank you so much!!!
    Hi,

    Right now, you have two options for financial aid at MUA since we are still waiting for student loans from the US government. The school has received comparability of Nevis’ medical accreditation system for Doctor of Medicine programs to the systems used to accredit such programs in the United States (U.S.). Therefore the school will subsequently be listed on the US education's department of schools eligible to receive federal loans, however, this process takes some time. Right now, your first option is a private medical education loan through Ed-Invest. The perks to this loan is that it covers cost of tuition plus a little extra. I believe you can request up to $15,000 every semester. The downside, on the other hand to this loan, is that it is credit based so you might need a co-signer, and the interest rate is pretty high ~around 9% or more depending on your credit score (and your co-signer's if you have one). If you want more information on this loan here is a link Ed-Invest - Foreign Medical - Home you can contact them if you have any other questions about their loan. The other option is to do your MBA online (either in public health administration or health care management) at Davenport University in Michigan online at the same time you do your MD with MUA. Our school has a partnership with them. This will give you federal loans from the US government at an interest rate around 6%, give or take, last I checked. You didn't mention if you were Canadian or American, but if you are American, this is an option for you. You will get approximately $10,250 every semester, around $2,000 of which will go towards your tuition for your MBA course and the rest will come as a refund for other expenses you have. This will not suffice your expenses at MUA so you will need to have another option to pick up the difference. Hope this helps. If you have anymore specific questions you can private message me. Good luck with everything, wish you all the best!
    Last edited by Med272016; 06-06-2013 at 02:15 AM.

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