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Financial Aid/loans at non-accredited COP

Discussion in 'Pre-Pharmacy' started by danhphan80, Apr 11, 2007.

  1. danhphan80

    2+ Year Member

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    The School Im going to does not qualify for Title IV financial aid (federal loans). I was going to apply for private loans at Sallie Mae and other banks. Does anyone know if one bank will be able to loan me all the money I need for pharmacy school?(~40k/year) Or do I need to loan at more than one bank? Any advice,sharing would be great. Thanks,:)
     
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  3. swimrxer2011

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    just out of curiosity, what school are you going to? are all non-accredited programs like that?
     
  4. aboveliquidice

    aboveliquidice No sacrifice - No victory
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    I am somewhat unsure of how you stated your question.

    If you are attending a college of pharmacy that is not accredited - that is very bad.

    Now - there are many schools that do not have FULL accreditation, but that is completely different from NO accreditation. The only one I typically hear about is USN - but I was under the impression that this situation has been remedied. The criteria to qualify for Federal Loans is to have the educational institution be regionally accredited first.

    Which school are you going to be attending - are they working on the Loan situation. A better question would be if there are prior year students (hopefully your not the inaugural class) - what did they do?

    If you can - please provide more info.

    ~above~
     
  5. MR. C

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    I dont think so.. I will be going to ETSU and they are not fully accredited, but they said we would be able to get stafford loans ect..

    If you school doesnt, GradPlus loans are popular but they are not need based so you have to have a good credit history or your parents have to cosign.. But Ive never heard of a school not being able to recieve stafford loans.. is it a precandidate status school?
     
  6. aboveliquidice

    aboveliquidice No sacrifice - No victory
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    The Status of accreditation does not coincide with being eligible for Federal Financial aid. Being regionally accredited does however.

    ~above~
     
  7. krsnyf

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    bear with my ignorance, but what's the difference between "regionally accreditation" and having the "status of accreditation"?
     
  8. Farmercyst

    Farmercyst From the shadows
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    My understanding is that the college must be accredited by two bodies. The Regional accreditation means that a regional body governing institutions of higher learning has accredited the university. This means it meets all the requirements to function as a degree/diploma awarding institution (not a degree mill "for 19.95 you can get your degree in electric shock therapy"). The second is from the AACP which verifies the College of Pharmacy at that institution meets all the criteria required to award the PharmD degree.

    All colleges should have the regional, only pharmacy schools require AACP. (Though I would think that AACP would require the regional accreditation.)
     
  9. Leb

    Leb
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    Are GradPlus only for citizens or permanent residents. like FAFSA, or can an international student get a loan?
    Iam a foreigner and got accepted to Pharmacy school, but i do not qualify for financial aid, and i have to get a private loan i guess. I have never heard about GradPlus loans before, so iam hoping i do qualify for them.
    Does anybody have any suggestions to where from can i get a loan? Do only Banks offer private loans or are there other options? (My credit is fine and i can get American cosignors).
    One more question, if i want to get a private loan, can i get one that covers tuition and living expanses, or will it only cover tuition only?
    I would appreciate the feedback.
     
  10. danhphan80

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    I'm going to UACP (university of Appalachia). It has pre-candidate status with cautionary status. They will be reviewed for candidate status this April.
     
  11. pharmgrl14

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    Going to a school that has pre-candidate status with cautionary status sounds a little scary to me! Make sure you really research it before you start taking out a bunch of loans!:)
     
  12. danhphan80

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    Although UACP has pre-candidate accredit. with cautionary status, I believe they will get acredited soon. I believe in the admins. at the school. Hopefully, they qualify for title IV financial aid soon so I don't have to do private loans.
     
  13. pharmgrl14

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    Well as soon as they get candidate status they will be able to get federal loans! Good Luck!
     
  14. aboveliquidice

    aboveliquidice No sacrifice - No victory
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    The process by which a university can receive Title IV Financial Aid is not the same as the process to become an accredited Pharmacy school

    Just because a Pharmacy school is accredited, does not mean it can receive title IV - In fact - USN was accredited by ACPE, but still could not receive aid. The school has to be come accredited within its region - It is something the school must apply for, separate from the ACPE's accrediation.

    ~above~
     
  15. KellyBean

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    You don't need to take out 40K. You only need to take out enough loans for the first semester because you will probably be able to get federal loans for the rest of the school year. Just apply to Sallie Mae and that should be more than enough.
     
  16. danhphan80

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    Thank You Kellybean for your advice, I really appreciate it. I think that's what I'm going to do. I wonder if in case they don't qualify for title IV by spring, will I have enough time to apply for other loans?:scared:
     
  17. gsinccom

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    Good info on this thread guys:)

    Just one update; USN is Title IV eligible now. To verify this scroll down a little as you look on the right hand side of the following page: http://usn.edu/

    :)
     

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