International Student Funding (MD)

[strawiro]

Hello,

I was recently admitted to one of my top MD programs. They mentioned that there was sources for international funding however, I have found this to be false. I am now in a dilemma where I have to give up my seat because I cannot find a US co-signer (I have no family here) nor am I able to secure private loans with my citizenship.

Any advice would help at this point. I've worked so hard to be able to get into this school and it pains me to watch my dreams disappear.

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[voxveritatisetlucis]

I’m sorry to hear about this. Is it possible your government has a program that could be paid back through service?

Why does it have to be a US loan btw?

 

[chilly_md]

You will need to work with your school as they are the one who has the requirements and expectations regarding how much international students need to pay or have available upfront.

 

[KnightDoc]

I’m sorry to hear about this. Is it possible your government has a program that could be paid back through service?

Why does it have to be a US loan btw?

Because US medical schools generally want US guarantees that they will receive 4 years' worth of tuition and fees, in US funds, before tying up a seat with a foreign student, unless the institution is funding the student itself, since there are no federal loans to count on.

Schools just don't want to be forced to expel foreign students over an inability to pay, to grant a defacto scholarship, or to chase people around the world seeking payment.

 

[voxveritatisetlucis]

I just don’t see what the difference would be between getting all funds upfront and putting it into an escrow account

 

[KnightDoc]

I just don’t see what the difference would be between getting all funds upfront and putting it into an escrow account

You are correct! Escrow is one way people handle it, but many do not have ~$300K +/- in cash available to fund an escrow account. If a foreign government is paying for it, this is exactly how it is handled. Same if the parents are wealthy. Otherwise, most schools will accept a promissory note signed by a citizen or someone with a Green Card they can chase if things go south.

 

[Tangerine123]

I’m sorry to hear about this. Is it possible your government has a program that could be paid back through service?

Why does it have to be a US loan btw?

Because US medical schools generally want US guarantees that they will receive 4 years' worth of tuition and fees, in US funds, before tying up a seat with a foreign student, unless the institution is funding the student itself, since there are no federal loans to count on.

Schools just don't want to be forced to expel foreign students over an inability to pay, to grant a defacto scholarship, or to chase people around the world seeking payment.

Looking at it from the other side (foreign government).

Those academic funds tend to be for people to learn and specialize in things that the country is lacking, so that you can later come go back and contribute. Most countries offer university studies for free or at least for a fraction of what is paid in the US.

$300k debt to serve in a different country
vs
Free(?) or cheaper education while you serve your own country.

I have no idea how you can justify your way through that.

 

[Tangerine123]

Hello,

I was recently admitted to one of my top MD programs. They mentioned that there was sources for international funding however, I have found this to be false. I am now in a dilemma where I have to give up my seat because I cannot find a US co-signer (I have no family here) nor am I able to secure private loans with my citizenship.

Any advice would help at this point. I've worked so hard to be able to get into this school and it pains me to watch my dreams disappear.

Perhaps you could sue them for False Advertising or Unfair Competition (?). My understanding of the US legal system is limited, but you can sue anybody for anything there. So there should be a way...

 

[voxveritatisetlucis]

Perhaps you could sue them for False Advertising or Unfair Competition (?). My understanding of the US legal system is limited, but you can sue anybody for anything there. So there should be a way...

Unless the school told OP that he or she would be one of the ones getting funding, then he/she almost certainly has no case.

 

[lord999]

The "sources of international funding" is not an untrue statement, but may or may not apply to your country. Your country circumstances determine much of this. You can have a bank drawn in your own country which is escrowed to a US bank with the US bank as guarantor is the typical way this is handled for non-resident, non-family situations.

 

[Browns99]

Perhaps you could sue them for False Advertising or Unfair Competition (?). My understanding of the US legal system is limited, but you can sue anybody for anything there. So there should be a way...

^This is why we are in trouble, people have this mindset that they should/could sue for anything....sue for what in this case?

 

[Browns99]

1. yes you can sue anyone in the US for anything
2. You can also spend them a lot of money doing that I would find your case thrown out of court
3. And even if you do win that the school is false advertising, no court would think that the school must pay for your tuition for four years as a remedy nor somehow that you have suffered damages other than the money it cost to apply.
4. You could be awarded psychological damages for the pain inflicted upon you from this being over to see if they’re able to pay for it however again I cannot possibly imagine the court letting Any damage is being applied (i.e. money being awarded to you)
5. The medical school application process includes the school student handbook (which always has a section of applicants) Will likely have verbiage that makes the responsibility of payment wholly up to the student And it was your responsibility to find out this information in detail prior to applying.

I’m sure you could find a lawyer for $25,000 retainer and $500 an hour to take your case. By the way I know A law firm that charges $600 an hour and requires their associates and partners To Bill and tenths of an hour. In other words $60 for six minutes.

I agree with everything you said, but think you misinterpreted my post since you replied to it. My point was that, the old tired argument of "just sue them" is too often brought up. The question I said about suing for what was rhetorical and was a response to the person who suggested suing, which is ridiculous. Sure you can sue, but again, it would be a waste of time.

 

[voxveritatisetlucis]

It can be a smart move in certain instances because often times organizations don’t want to go through discovery. However, certain cases are merit less and will be tossed prior to discovery.

I don’t think there is an ethical argument to avoid legal action. If you think that these organizations wouldn’t sue in an instance to protect their interests, you’re naive.

 

[Browns99]

It can be a smart move in certain instances because often times organizations don’t want to go through discovery. However, certain cases are merit less and will be tossed prior to discovery.

I don’t think there is an ethical argument to avoid legal action. If you think that these organizations wouldn’t sue in an instance to protect their interests, you’re naive.

Smart move to sue? You are rushing to suggest that it can be a smart move to sue when we have nothing more then an anonymous poster who said that they were admitted to a MD program and that the school "mentioned that there was sources for international funding" and they said they "have found this to be false." C'mon...

 

[voxveritatisetlucis]

Smart move to sue? You are rushing to suggest that it can be a smart move to sue when we have nothing more then an anonymous poster who said that they were admitted to a MD program and that the school "mentioned that there was sources for international funding" and they said they "have found this to be false." C'mon...

In certain instances.

Certainly not this one.

 

[DarkBluMage]

I’m not really seeing why the school should be sued or why it would be a good idea rather than a waste of money being thrown away for legal representation. It’s not the schools fault that an international student doesn’t know how to pay for their education. The responsibility falls on the student to figure out financing before even applying for graduate medical education, especially if they’re not a resident or citizen in this country. That would be a waste of money on the students behalf to try to sue.
Definitely a tough spot and would look at trying to reach out to others who have been in a similar position for guidance on getting financing or possibly attending your home country’s medical education programs. Trying to sue seems like a waste of time and resources though.

 

[strawiro]

There will be no suing of anyone - not even a thought of mine. I just wanted some advice. Thanks for the contributions.

 

[Browns99]

There will be no suing of anyone - not even a thought of mine. I just wanted some advice. Thanks for the contributions.

Best of luck, hopefully you can find some funding to attend.

 

[DarkBluMage]

There will be no suing of anyone - not even a thought of mine. I just wanted some advice. Thanks for the contributions.

Have you tried to ask the school if they can connect you with anyone in their financial aid department or a faculty member that regularly helps international students with funding or has knowledge of it funding processes?

 

[candbgirl]

Was the mention of available funding for International students in your acceptance letter? Or was it mentioned on the website somewhere?

 

[Tangerine123]

There will be no suing of anyone - not even a thought of mine. I just wanted some advice. Thanks for the contributions.

Talk to the school, defer your admission to next year and use this year to find scholarships and funding.

 

[JStarMD]

Perhaps you could sue them for False Advertising or Unfair Competition (?). My understanding of the US legal system is limited, but you can sue anybody for anything there. So there should be a way...

Here in the US one cannot sue anyone for amything—- and expect the court to hear it. And US attorneys get $500/hr+…..about 5X what Medicare & insurers pay doctors.

 

[VA Hopeful Dr]

Here in the US one cannot sue anyone for amything—- and expect the court to hear it. And US attorneys get $500/hr+…..about 5X what Medicare & insurers pay doctors.

That's gross pay before expenses. Using that standard most doctors make that or more.

I'm an FP. I typically see 4 patients/hour. Most are level 4 patients. That alone, using Medicare rates, gets me over $520/hour. But I often add in Annual Wellness Visits, each is worth another $130 or so. So even if I only add on one of those every 2 hours, that brings the average up to around $600/hr. And again, I'm an FP. One of the lowest earning doctors in medicine.

And that's just Medicare. Private insurance pays significantly better than that.

 

[MCAT_IS_ROUGH]

Maybe some resources here OP: Finances | F-1 Doctors