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For those taking out loans for tuition and expenses
Started by fromjersey
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I don't know this for sure (because nobody's posted surveys like this for other schools 🙂 ) but starting salaries in CA might be higher than average because the cost of living is so high. So if you're someplace with a substantially lower cost of living, you might want to take those numbers as more of an upper limit than an average.
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Is anyone NOT going with Sallie Mae because of what's been said about them in other forums on here?
I got some notices today, urging me to go online and accept my loans, and they are going to be managed by Sallie Mae. Apparently, KSU and perhaps many or most other schools automatically will use Sallie Mae.
I believe we have the option to request a different provider or manager (the lender in my case is different... it's from a Kansas bank)... but is anyone bothering to do that?
Just trying to see if anyone else considered this.. or if I'm being too paranoid about Sallie Mae...
(I know this is an old thread, but I'm all about reducing-reusing-recycling ;-D )
I got some notices today, urging me to go online and accept my loans, and they are going to be managed by Sallie Mae. Apparently, KSU and perhaps many or most other schools automatically will use Sallie Mae.
I believe we have the option to request a different provider or manager (the lender in my case is different... it's from a Kansas bank)... but is anyone bothering to do that?
Just trying to see if anyone else considered this.. or if I'm being too paranoid about Sallie Mae...
(I know this is an old thread, but I'm all about reducing-reusing-recycling ;-D )
Is anyone NOT going with Sallie Mae because of what's been said about them in other forums on here?
I got some notices today, urging me to go online and accept my loans, and they are going to be managed by Sallie Mae. Apparently, KSU and perhaps many or most other schools automatically will use Sallie Mae.
I believe we have the option to request a different provider or manager (the lender in my case is different... it's from a Kansas bank)... but is anyone bothering to do that?
Just trying to see if anyone else considered this.. or if I'm being too paranoid about Sallie Mae...
(I know this is an old thread, but I'm all about reducing-reusing-recycling ;-D )
wait im sorry wats going on with sallie mae???
Hey CookieBear:
Interestingly enough check out this story in a Kansas paper. http://www.kansascity.com/205/story/87503.html
First, yes you do have the right to request another lender. Do you want to do that? Heck, can't really help you with that.
I actually have my undegrad loans with Sallie Mae. Now, I'm obviously not in repayment so can't say much. The loan rate is right in line and their website is very easy to use (having just gone through financing a home). There is much talk now about kickbacks and the fact that Sallie Mae is being sold. The reality is it is not unusual for loans (and or loan companies to be sold). In fact my loan for my first year was another bank before Sallie Mae bought it. Banks for personal accounts seemed to have settled down but I think from the bank I originally signed up with to who it is today is probalby at least six ownership changes. That has been pretty seamless. That actually doesn't bother me so much. Perhaps all the kickback stories are true, but I can tell you it's worth it to me to work with the company the school wants me to - virtually hassle free. As long as their loan rates are in line I have no qualms. There are certainly no guarantees that if you choose another lender the same things won't happen.
Interestingly enough check out this story in a Kansas paper. http://www.kansascity.com/205/story/87503.html
First, yes you do have the right to request another lender. Do you want to do that? Heck, can't really help you with that.
I actually have my undegrad loans with Sallie Mae. Now, I'm obviously not in repayment so can't say much. The loan rate is right in line and their website is very easy to use (having just gone through financing a home). There is much talk now about kickbacks and the fact that Sallie Mae is being sold. The reality is it is not unusual for loans (and or loan companies to be sold). In fact my loan for my first year was another bank before Sallie Mae bought it. Banks for personal accounts seemed to have settled down but I think from the bank I originally signed up with to who it is today is probalby at least six ownership changes. That has been pretty seamless. That actually doesn't bother me so much. Perhaps all the kickback stories are true, but I can tell you it's worth it to me to work with the company the school wants me to - virtually hassle free. As long as their loan rates are in line I have no qualms. There are certainly no guarantees that if you choose another lender the same things won't happen.
fromjersey- Ive noticed youve posted a lot of per say negative posts in terms of vet school. (Relationships being doomed, huge amounts of debt, blacklisting and what not). Now Im sure this is not the case and your just overly worried but thats ok. The bottom line is, just about every one of us on this board will come out of debt school roughly 200k in debt. Just about every vet whose come out of vet school has come out with severe debt and they've all found a way to pay it off and so will we. The vet world isnt the same as it was 20 years ago even. Depending on where you live people are a lot more willing to shell out cash for their pet. I mean I see people shelling out 4k for their cat to have braces, or getting annual dentals, or paying for all these exstensive surgeries to prolong their animals life. All this turns into more revenue for the vet and its an increasing trend. So if you think youll be debt free in 10 years it probably won't happen but if you want a job youll enjoy that will eventually get you out of debt and you will be able to live a fulfilling life with a good income a vet could be the job for you.
There is nothing wrong with questioning the amount of debt one will be in when they are finished with vet school. If you would have read his post you would have seen that his interest is in LA, and there aren't a lot of people willing to spend a great deal of money on LA medicine.
I read another article last week citing not only sketchy practices of the loan companies, but that the colleges are showering lending officers with gifts in exchange for the college advertising their company exclusively to students. Another investigation revealed that colleges were sponsoring "loan counseling" that was no more than a single company advertising themselves. (Was a series of articles in the ny times thats now pay-only content). I was gonna let a loan officer at Penn tell me what loans were best but I think I'll do my own research now
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I am in somewhat the same situation. I applied to one school (I know, I know!) and did not get in, but was offered the choice of several PhD programs at another school which will pay my tuition and 23K a year, with no TA or anything expected. I was tempted by the debt issue as well: 4yrs/150$ debt versus 4.5yrs/little debt/better starting salary, and finally decided that I am going to give vet school one more try (and apply to more than one school next time!). When I called to decline the PhD program I said that I was going to pursue other options for a year, and they offered to defer my admission to Fall of 2008, so that may be an option for you too. I did not feel bad accepting this as they are not out any money, but I have something else to do if I do not get into vet school.
I want the dream too, I really want to be a practicing vet rather than a researcher, but I am pragmatic too. I am 33 and am not going to spend the next 5 years working for peanuts as a vet tech and getting rejected, especially when there are PhD programs that want me, will be intellectually stimulating and pay better (even without factoring in the low debt load I will incur). My suggestion is to set a timeline, do everything you can to get in during that time, and if you don't make it, go do good as a PhD somewhere. I am quitting my job in June when my contract is up and working at every single animal job I can find until I put in my application, and I will continue to work until I get in or rejected next April, knowing I gave it my best shot (I was rejected for lack of experience). I think people who just say apply forever until you get in are being unrealistic, no offense intended. Not everyone gets to live their dream. The question is whether the alternative is something you can live with for the rest of your life.
By the by, these are the 2004 Job Outlook figures:
Small animals, predominantly $50,878
Small animals, exclusively 50,703
Large animals, exclusively 50,403
Private clinical practice 49,635
Large animals, predominantly 48,529
Mixed animals 47,704
Equine (horses) 38,628
I would think these numbers are up 5-10K by now, and certainly will be higher after 4 years of school.
My two cents🙂
I want the dream too, I really want to be a practicing vet rather than a researcher, but I am pragmatic too. I am 33 and am not going to spend the next 5 years working for peanuts as a vet tech and getting rejected, especially when there are PhD programs that want me, will be intellectually stimulating and pay better (even without factoring in the low debt load I will incur). My suggestion is to set a timeline, do everything you can to get in during that time, and if you don't make it, go do good as a PhD somewhere. I am quitting my job in June when my contract is up and working at every single animal job I can find until I put in my application, and I will continue to work until I get in or rejected next April, knowing I gave it my best shot (I was rejected for lack of experience). I think people who just say apply forever until you get in are being unrealistic, no offense intended. Not everyone gets to live their dream. The question is whether the alternative is something you can live with for the rest of your life.
By the by, these are the 2004 Job Outlook figures:
Small animals, predominantly $50,878
Small animals, exclusively 50,703
Large animals, exclusively 50,403
Private clinical practice 49,635
Large animals, predominantly 48,529
Mixed animals 47,704
Equine (horses) 38,628
I would think these numbers are up 5-10K by now, and certainly will be higher after 4 years of school.
My two cents🙂
