How are you paying for postbac?

[CJK421]

Straight to the point: How are you all funding your postbac when federal loans just aren't enough? Specifically, if you're taking out alternative loans to supplement the meager $12,500 offered federally, which lenders have you found that lend to postbac students?

Thanks for all help in advance!

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[Neuro25_]

I obtained a loan from my bank (private student loan) to supplement the fed loans. It sucks but it has to be done.

 

[SirCourageWolf]

I paid out of pocket attending a local community college. Pretty slow going to afford a class a semester but worth the lack of debt.

 

[Shotapp]

Yeah, I'm going to take out some loans through my bank to cover the cost of my post-bac. Taking one class at a time isn't going to convince ADCOMS that I can handle the furnace that is Medical school.

 

[CJK421]

I obtained a loan from my bank (private student loan) to supplement the fed loans. It sucks but it has to be done.

Out of curiosity, which bank provided your loan?

I've been applying for jobs at my University to get partial tuition coverage, but the hiring process is so slow in the summertime that I'm not sure if anything will come through by the time payment is due. I'm not opposed to the idea of alternative loans, though. I just haven't been able to find any lenders that consider Post-bac students.

 

[Neuro25_]

Out of curiosity, which bank provided your loan?

I've been applying for jobs at my University to get partial tuition coverage, but the hiring process is so slow in the summertime that I'm not sure if anything will come through by the time payment is due. I'm not opposed to the idea of alternative loans, though. I just haven't been able to find any lenders that consider Post-bac students.

I bank with WellsFargo. I just got a student loan, nothing special. I advise you don't really use the word 'post bac' because it may confuse the lender/process to be honest. Just say that you are taking undergraduate courses. I am sure it isn't a big deal...

 

[CJK421]

I bank with WellsFargo. I just got a student loan, nothing special. I advise you don't really use the word 'post bac' because it may confuse the lender/process to be honest. Just say that you are taking undergraduate courses. I am sure it isn't a big deal...

Really? That hadn't even occurred to me. I've always assumed that the bank would fact-check with the college anyway?

Well, I guess our status on the FAFSA is "5th year undergraduate"...

 

[CJK421]

Yeah, I'm going to take out some loans through my bank to cover the cost of my post-bac. Taking one class at a time isn't going to convince ADCOMS that I can handle the furnace that is Medical school.

Yeah, that's a good point you make about going part-time that I hadn't thought of. Working full time would also make it tough to get sufficient volunteer hours and clinical exposure.

 

[Neuro25_]

Really? That hadn't even occurred to me. I've always assumed that the bank would fact-check with the college anyway?

Well, I guess our status on the FAFSA is "5th year undergraduate"...

the term post-bac in the world of financial aid is basically non existent. Either you are taking undergraduate courses or graduate courses. So basically, you need a 5th year and are still taking undergraduate courses.

 

[CJK421]

the term post-bac in the world of financial aid is basically non existent. Either you are taking undergraduate courses or graduate courses. So basically, you need a 5th year and are still taking undergraduate courses.

Amen to that. Thanks for your help, btw.

How long is your program? Have you been eligible for multiple years of loans? I'm looking at probably 2 years here.

 

[Neuro25_]

Amen to that. Thanks for your help, btw.

How long is your program? Have you been eligible for multiple years of loans? I'm looking at probably 2 years here.

I returned to my undergraduate institution (highly recommended so that the transcript mess with AMCAS submission isn't horrendous) and did all of my classes within 1 year. I ended up taking physics 2 at my local CC for money reasons. ADCOMS did not seem to have an issue with that. I would err on the side of caution with doing an entire post bac at a CC.

 

[CJK421]

I returned to my undergraduate institution (highly recommended so that the transcript mess with AMCAS submission isn't horrendous) and did all of my classes within 1 year. I ended up taking physics 2 at my local CC for money reasons. ADCOMS did not seem to have an issue with that. I would err on the side of caution with doing an entire post bac at a CC.

Hmm yeah, it's great that it's worked out for you! I won't be returning to my undergrad, and am starting from the absolute beginning (science-wise). Was thinking about taking math/psych online through HES for financial reasons as well.

One step at a time, I suppose...

 

[Gauss44]

Apply for the loan while you are still working and making maximal money (before taking time off or reducing hours for school, if you plan to do so). How much you make can impact whether or not you are approved or need a cosigner. It might impact interest rate as well.

 

[coppernickel]

I paid out of pocket for CC and then got a private student loan (Discover) for the formal postbac. I am not going to lie, it is a risk to get the loan. I can't say what is the best course of action. All I can say is get As and do well on the MCAT; if it means paying as much as you can, then do it. I even did the princeton review course, which costs about $2k, and the thinking is--I'm already committed, I need to make sure this path is secure.

 

[McRibs]

Paid out of pocket for CC. Work heard what I was doing and offered to pay for University.

 

[ROSC]

Full time job, paid out of pocket.