Comparing Tuition Prices - Why is there a difference?

[metukah]

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Why are the tuition prices of some carribean schools much less than other? For example SABA compared to SGU?

I am trying to get a better understanding of this.

Thanks.

 

[islandCrazy]

Well other than the fact that SGU is an older school it has federal loans which Saba does not have so I believe that plays a big part.

 

[ilovepath]

My take is also it gives the appearance of legitimacy-- those schools with lower prices like windsor have a problem with perception of quality. But overall I think like it was said, federal loans is the biggest thing, bc saba doesn't have that, and they have cheaper tuition though are very established.

 

[metukah]

My take is also it gives the appearance of legitimacy-- those schools with lower prices like windsor have a problem with perception of quality. But overall I think like it was said, federal loans is the biggest thing, bc saba doesn't have that, and they have cheaper tuition though are very established.

thanks for your replies...can you please explain in more detail about the federal loans? the school doesnt take out loans? or students dont have the option to?

 

[kak9699]

thanks for your replies...can you please explain in more detail about the federal loans? the school doesnt take out loans? or students dont have the option to?

Sure! At Saba, for example, US students cannot get federal financial aid(like Stafford and Direct PLUS loans) and instead must rely on private loans to meet the costs of their time there. Canadian students at Saba can get federal loans. It all comes down to if the school has completed the right paperwork and meet the right requirements by the various governments that award the loans. Someone please clarify if I've blotched the explanation. 🙂

P.S. It's important to remember that your actual cost at Saba with private loans may not end up being cheaper at all than going to a school that's more expensive, but offers federal loans. The higher interest rates on private vs federal loans can really do a student in, especially if they end up deferring payments during residency, etc. Hope this helps!

 

[coralis]

Canadian students at Saba can get federal loans. It all comes down to if the school has completed the right paperwork and meet the right requirements by the various governments that award the loans. Someone please clarify if I've blotched the explanation. 🙂

Canadians cannot get ANY federal loans for medical education outside Canada. Unless it's research involved, but that gets complicated, and usually involves ppl with MDs already.

We're all either on private loans (majority) or with mommy/daddy funds

 

[kak9699]

Canadians cannot get ANY federal loans for medical education outside Canada. Unless it's research involved, but that gets complicated, and usually involves ppl with MDs already.

We're all either on private loans (majority) or with mommy/daddy funds

Wow! I was not aware of that! Thank you for enlightening me!

 

[leviathan]

Canadians cannot get ANY federal loans for medical education outside Canada. Unless it's research involved, but that gets complicated, and usually involves ppl with MDs already.

We're all either on private loans (majority) or with mommy/daddy funds

Wrong. Go take a look at my student loan debt and then get back to this thread. 😉

 

[islandCrazy]

Yeah the above person who said Canadians don't get federal loans is completely WRONG!!
It is under the OSAP approved school list, and I'm pretty sure almost all provinces have approved it. Well except for Quebec but they don't give loan money to any school outside of Quebec except UOttawa.

 

[Groove]

There's pros and cons to going to some of the Carib schools with big tuitions. The con is most definitely the fact that it places you in more debt. Let's be real... the school is making money off you as it's a for profit organization. However, it's also in their best interest to market themselves as not only a reputable school but one that is successful in gaining training locations for their students during the clinical years and successfully placing them in residency. Take the following article for instance...

Is SGU expensive? You bet.. but without those greenbacks, they would have never been able to secure a 10yr contract with the HHC hospitals in NYC for exclusive foreign student clinical rotation spots for $100 million. It also gives the school money to lobby state and even federal legislatures for policies that help the school and their students.

So... weigh out all the pros and cons. Nobody likes to be in debt, but at least "some" of your tuition is being put to good use. Just my 2 cents.