Best options to finance your Post-Bacc?

[zed350]

As we all know taking Post-Bacc classes accompanied by cost of applying to med schools, traveling for interviews and not to forget the day-to-day expenses makes the whole Post-Bacc experience very expensive.

I am taking my Post-Bacc classes through an open university - $200/unit which just makes it even more harder..financially. I am sure a lot of you guys have/are going thru the same kind of experience and I wanted to find out how you guys are financing your Post-Bacc education...Till this point I have been financing myself with my previous savings but that cushion is wearing thin very fast. So , i need few ideas from you guys to keep on following my dream...TIA for any suggestions you might have.

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[budhak0n]

Well having done the song and dance throughout my prior "academic" career and having landed on my so called financial two feet throughout the past 15 years.... I've redone just about everything about "me" and this includes how I will pay for my schooling.

For me personally, I'm doing post bacc classes out of pocket. I could do it as a straight payment but that doesnt' make much sense to me since there are many other avenues open to you especially if you have good credit or have a cosigner.

If you go to teri.org you will find commercial banks who will happily do your loan not as a stafford or student loan but rather as a personal note.

For me personally, I do all my personal and business banking with Bank of America and have a pretty solid relationship so I basically just entered into a bare bones "loan" of sorts which enters repayment the day I accept the funds.

It should be noted that I DID NOT nor would not ever... Borrow more than I need for my credits.... Borrow money for my living expenses... or Borrow in a fashion whereby I would not enter repayment until some supposed day in the future...

Why you ask? Because if you do those things, you probably are not all that interested in having a legitimate borrower/lender relationship and showing a complete disregard for interest charges and the like is just one example.

I'm not saying there aren't places out there who will as "private" companies fund your coursework and maybe even your apartment but I would not advise that "FINANCIALLY" to anyone who is seriously considering getting into something like Med School... you're going to have enough on your plate financially just trying to get by the Med School part... don't add to your plate the cost of the pre req's.. clear them before you go back for more and your lender will take you much more seriously when you make that "call" that says well I really think I'm worth an investment of 150,000 bucks sir... when I graduate 5 years from now, you will look at me as money well lent.

Just my two cents... as is everything I write. There's plenty of different ways to go... but the better rates and deals are with private banks.

 

[zed350]

Well having done the song and dance throughout my prior "academic" career and having landed on my so called financial two feet throughout the past 15 years.... I've redone just about everything about "me" and this includes how I will pay for my schooling.

For me personally, I'm doing post bacc classes out of pocket. I could do it as a straight payment but that doesnt' make much sense to me since there are many other avenues open to you especially if you have good credit or have a cosigner.

If you go to teri.org you will find commercial banks who will happily do your loan not as a stafford or student loan but rather as a personal note.

For me personally, I do all my personal and business banking with Bank of America and have a pretty solid relationship so I basically just entered into a bare bones "loan" of sorts which enters repayment the day I accept the funds.

It should be noted that I DID NOT nor would not ever... Borrow more than I need for my credits.... Borrow money for my living expenses... or Borrow in a fashion whereby I would not enter repayment until some supposed day in the future...

Why you ask? Because if you do those things, you probably are not all that interested in having a legitimate borrower/lender relationship and showing a complete disregard for interest charges and the like is just one example.

I'm not saying there aren't places out there who will as "private" companies fund your coursework and maybe even your apartment but I would not advise that "FINANCIALLY" to anyone who is seriously considering getting into something like Med School... you're going to have enough on your plate financially just trying to get by the Med School part... don't add to your plate the cost of the pre req's.. clear them before you go back for more and your lender will take you much more seriously when you make that "call" that says well I really think I'm worth an investment of 150,000 bucks sir... when I graduate 5 years from now, you will look at me as money well lent.

Just my two cents... as is everything I write. There's plenty of different ways to go... but the better rates and deals are with private banks.

Thanks a lot budhak0n thats actually really good advice,

 

[Orthodoc40]

As we all know taking Post-Bacc classes accompanied by cost of applying to med schools, traveling for interviews and not to forget the day-to-day expenses makes the whole Post-Bacc experience very expensive.

I am taking my Post-Bacc classes through an open university - $200/unit which just makes it even more harder..financially. I am sure a lot of you guys have/are going thru the same kind of experience and I wanted to find out how you guys are financing your Post-Bacc education...Till this point I have been financing myself with my previous savings but that cushion is wearing thin very fast. So , i need few ideas from you guys to keep on following my dream...TIA for any suggestions you might have.

It's not recommended, but I paid for classes all by credit cards (low interest, fixed rates). If I could do it over, I would have waited 'til I had a job w/ tuition reimbursement perks, and done it that way.

 

[njbmd]

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