Financial Assistance for DACA students

[Rozn02]

Dear SDN community,

I am reaching out to people on here to see if anyone has any information or guidance for someone like me.
I have been lucky to have received a few acceptances this cycle, however my DACA recipient status seems to be hitting me hard yet again in life.

A few institutions require me now, after acceptance, to show the ability to pay four years or I need to provide sponsers etc.. I do not qualify for federal aid and now most institutional aid is also not available.

I am very scared that this may block me from attending medical school. I would have the ability to get a private loan from year to year, but I am not sure how I can show all four years since most, if not all, institutions don't lend beyond one year at a time.

Does anyone have any guidance or been in a similar situation? I am still waiting back to hear from very DACA friendly schools such as Loyola, but I am fighting and looking for more options so I can make my dream come true.

Thank you for any help everyone..

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[lalalallala]

I am sorry to hear that you are in this difficult situation. I assume you have looked into private scholarships for DACA students and groups that advocate for DACA recipients? Not to add to your stress, but I would suggest searching on SDN 'private loans' so you are aware of the difference in the repayment requirements and can understand all that private loans entail. I hope that the schools you were accepted to can help you through this

 

[riverrunner]

No Cosigner, No Problem: Meet The Companies Helping International Students Finance Their U.S. Degrees

11% interest rate, as of publication of this article. And I don't know if you can get the lender to guarantee you for all four years. But these companies might be worth talking to.


And my best wishes to you. We need you to get to school and start practicing.

 

[labscience]

This is a wonderful website and community of young healthcare professionals who have been in your shoes: Pre-Health Dreamers I hope some of these resources, or reaching out to one of the members, might be helpful. My heart goes out to you!

 

[Rozn02]

Thank you to all the responses so far!

The issue with the links riverrunner provided is they are school specific and sadly don’t have many medical schools on the list. I’ve looked into them a few times.

I’m continuously looking for more options and trying to apply for any little scholarship I can find. I’ve seen Pre-Health dreamers and will continue to look into the resources they have.

Sadly I still don’t have any solid options on the table yet, just more possibilities to explore and hope it leads to something.

 

[riverrunner]

Did you look through the list of MD and DO programs MPower is now partnered with? And I wonder if the schools that have accepted you (if not on this list) would be open to getting going on this. You would be an excellent credit risk for this model, which is (I assume) why this list includes so many health-career related programs.

https://www.mpowerfinancing.com/wp-content/uploads/MPOWER-School-List-2019-03.08.pdf

 

[Rozn02]

Did you look through the list of MD and DO programs MPower is now partnered with? And I wonder if the schools that have accepted you (if not on this list) would be open to getting going on this. You would be an excellent credit risk for this model, which is (I assume) why this list includes so many health-career related programs.

https://www.mpowerfinancing.com/wp-content/uploads/MPOWER-School-List-2019-03.08.pdf

Yes. They do not include the schools I have been accepted to except one DO program and only lend a maximum of $50,000 ($25,000 per loan so only the first two years) which would also be under the amount needed for all four years of medical school.

 

[riverrunner]

Rozn02, I encourage you to talk with each financial aid office, of course. If you could connect something like MPower to one of your schools, that might be the answer. You just need someone pulling for you from the inside.

 

[Rozn02]

Ron02, I encourage you to talk with each financial aid office, of course. If you could connect something like MPower to one of your schools, that might be the answer. You just need someone pulling for you from the inside.

Thank you, I have been in constant contact with MCW (as an example) and was trying to look for ways forward. They had a few options, but no clear path unfortunately. Im assuming even trying to connect MPower would take over a month which is the current deadline.

I am trying to find a cosigner to sign a loan for the first year (Discover/Sallie Mae offer it for DACA recipients with a US cosigner), but I still need to figure out proof for the other three years.

My status has been a constant hurdle, I am hoping I can get over it this one last time to achieve my dream.

 

[riverrunner]

Rozn02 have you contacted MPower to ask how this works from their side of things? And I'm sorry to keep harping on this if you're convinced it's a dead end. I see you and want this to happen for you.

 

[Rozn02]

I have sent them an email as you suggested, I will let you know what they say when I get a response.

No, I appreciate your assistance. Truly. If anything, its been eye opening to see how many people want to work with me on this or are trying to find a solution.

Edit: I have also reached out to the Pre-Health Dreamers Organization

 

[SoManyMedQuestions]

I have sent them an email as you suggested, I will let you know what they say when I get a response.

No, I appreciate your assistance. Truly. If anything, its been eye opening to see how many people want to work with me on this or are trying to find a solution.

Edit: I have also reached out to the Pre-Health Dreamers Organization

I will be in your shoes soon enough Rozn02. I am applying this cycle and will, without a doubt, face the exact same problem. I was not aware that they wanted proof of all four years, that is going to be a huge problem. Please know that I am going to continue to look into this and see what I find. Also, if you figure out ANYTHING please please please share with me. We are in a very tough situation, but we will get through it and get that M.D. somehow. Best of luck to you.

 

[Ludmilla17]

Hello, current MS3 Dreamer, please PM for more info on private loans as I currently have one for medical school. I am also curious to which schools are asking for the fronting of money. That is something I encountered when schools wanted to categorize us as international students. That may have changed in the last few years but I would like to know more.