Loans for Caribean schools

[airrick16]

Greetings,
Where do most US students attending St.George's and other Caribbean vet schools acquire tuition funding,loans from? 😕

I have read that the US gov't does not provide loans to studying overseas. Is this true? What are the most sensible alternatives?

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[Walsh1122]

I can only speak based on my current experience with SGU. You are not eligible for federal financial aid through the U.S. govt, so you need to apply for a private student loan. However, due to the current financial crisis, the only loan company willing to work with SGU is Sallie Mae. They are offering incoming SGU students what is called a Sallie Mae Smart Option Student Loan. It will cover up to your total cost of attendance, however, you cant defer the interest payments on the loan. Which means that while you are in school you need to make monthly interest payments. In addition you need to secure a credit worthy co-signer for the loan. Almost everyone needs a co-signer. In addition to your private student loan, SGU offers some academic and need based scholarships. Click on this link if you want to check it out http://sgu.edu/financial-services/svm-scholarships.html .

 

[jpeterman13]

I know that Ross University allows FAFSA loans (for sure) and Staford loans (I think 😕) I guess I should read up on that since I'm probably headed there in May. I think that the reason is, based on the opinions that I have got from students and graduates, that ~95% of the students at Ross are American.

 

[airrick16]

What excatly are the current US government restrictions on taking money out of the country for education abroad?

 

[Walsh1122]

According to the Ross website students should be eligible for up to $10,250 in Stafford Loans. Here is the link for the Ross Financial Aid Website http://www.rossu.edu/veterinary-school/admissions/financiainfo.cfm the Financial Planning Page in the middle of the page gives more detail.

 

[Walsh1122]

As in paying for tuition or for living expenses?

 

[airrick16]

As in paying for tuition or for living expenses?

tuition

 

[Walsh1122]

Well for SGU, all of the financial aid is done through the office in Bay Shore, NY. So there would be no need to worry about taking large sums of money out of the U.S.

 

[flyhi]

What excatly are the current US government restrictions on taking money out of the country for education abroad?

If you are paying out of pocket, you will not have any issues. You can wire from your US bank to the school, or open up a bank account in the country where the school is located. They are more than happy to take your money and will make it easy

 

[cowgirla]

Well for SGU, all of the financial aid is done through the office in Bay Shore, NY. So there would be no need to worry about taking large sums of money out of the U.S.

This is totally off the subject of the thread, but,

I didn't realize SGU had offices in Bay Shore. Interesting. I grew up right around there.

 

[parietal]

FWIW, the SGU admissions guy said they are suing the federal government over this because Ross students can get federal loans but SGU students can't. He seemed hopeful it would be resolved in their favor before fall 2010...

 

[Walsh1122]

Parietal, thanks for the info, I was unaware of this.