??loans?? help - I need advice....

Discussion in 'Medical Students - DO' started by PhillyGirl, Jul 18, 2001.

  1. PhillyGirl

    PhillyGirl Member

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    Hi all. I am having a nervous breakdown about loans. Can someone who's been through this advise me a little -- the finaid office isn't helping me much. I need to borrow a little more than the fed loans. Is there really a difference between loans/lender,etc? or, is anything I do going to be the same??

    I feel like I am reading some cryptic language when I read the brochures and websites. So far, I am looking at TERI or Signature loans, but I don't really understand any of it...

    Anything anyone says may help me, so please divulge your secrets of financing your education....

    THANK YOU !!!!!

    michelle
     
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  3. abs

    abs Member

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    Hi Michelle,

    I know what you mean about the FA office. Sometimes they can be extremely helpful and sometimes you wonder why they even exist... Anyway, last year I was in your shoes (and will be again this year (Lincoln Green costs alot more than what our measly $13K budget can handle)) and I ended up getting a MedAchiever loan. At the time, it seemed like a great idea because I didn't know what else to do; however, I've found that if you physically go to the FA office (2nd floor of Rowland Hall) and are EXTREMELY nice then they will help you with anything you need (and give you good advice on what the best private loan is). If you have any other questions, don't hesitate to ask.

    Best of luck this year!
     
  4. docorange04

    docorange04 Member

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    Michelle:

    PCOM's budget allows students to borrow up to $8000 more than the max. $38,500 in Stafford loans. At least that's the way it was last year. Go to the financial aid office and ask them about the CASL loan program. I used it last year for some extra cash and it was quite easy. If you don't want to use them, there are a number of other private loan sources that you can tap into. Just ask financial aid and they should be able to help you.

    Good Luck!
     
  5. slindsay198

    slindsay198 Member

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    Michelle,

    when did you find out how much money you were getting from stafford loans, etc? i haven't heard anything back from PCOM yet and was just wondering about all this myself.

    thanks!
    Scott
     
  6. PhillyGirl

    PhillyGirl Member

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    Scott,

    I called them and asked what the deal is. They told me that they have done their stafford stuff, but they are still waiting for their PCOM grants and such to be awarded. They said it will be soon (but we've heard that before -- remember, housing info was supposed to be ready in early april... I think we got it in late May)

    Thanks for your advice, all. I went online and applied for a loan. They only approve us for $8k more than the 38.5? I am surprised. They underestimate living expenses or I have overestimated. oh well, ya live and learn...

    see you all soon...

    Michelle
     
  7. jcpetruc

    jcpetruc Junior Member

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    Hi Guys,

    I was starting to wonder about the Loans too and haven't heard anything from PCOM either. At least we're all in the same shape. I would have thought we would have heard from them...See you all in August.

    Jim
    PCOM 2005
     
  8. Bubba

    Bubba Member

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    Ok, here is some info. I had to do that verification thing and send them ANOTHER copy of my tax return and fill out a form before they would process my loans. This was several weeks ago. So yesterday I called to make sure they got everything and if I needed to do anything else. She said that she just approved my loans that morning. I have not gotten anything in the mail but I guess I can be considered officially in debt now.
    She said they have just started to process first year's loans this week. We will all probably get something in the mail next week.
     
  9. Patrick O

    Patrick O Member

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    I need to revive this post because after finally getting in ... I am now in the same boat...

    I filed FAFSA a long time ago... I was accepted last monday... when I did FAFSA I didn't give the parents finances...

    My SAR or SRA or whatever it is called said I was selected to be verified... what the heck is this mean....

    I am living with my girlfriend in Cedarbrook Hills (similar to the pricy rent at Lincoln Green)... who is in PHysicvian Assistant school at Arcadia. I need the full amount.... what is PCOM's cost of education total... living and tuiution budget? They haven't sent loan stuff yet... so when I was in the area signing a lease I stopped in at financial aid and got a packet. So Stafford is $38.5k and then 8g's over that ... you guys were saying it comes out to a measly 13 grand living expense a year.....

    Help?

    Pat
    PCOM 2005
     
  10. docorange04

    docorange04 Member

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    Patrick-

    Relax. First of all, if you were selected for verification, you need to go to FA and give them a copy of your 2000 tax return. You do not have to submit your parent's info, but if you choose not to, then you will not be eligible for any grants, special loans, or scholarships that PCOM might offer. Secondly, since tuition this year is about 25K, that leaves you with 13.5K for living expenses. You can borrow an additional 8K through alternative loans, such as the CASL program that I mentioned above. Talk to FA about that and they will help you.

    Good luck!
     
  11. kinipeli

    kinipeli Junior Member

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    Just an FYI- i finally got something in the mail about my federal perkins loan from the PCOM fin aid office a day or two ago.. i think they may still be working on the school awards and grant stuff for the first year class.
     
  12. Bubba

    Bubba Member

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    I called the PCOM Bursar's office yesterday. They said that I would be able to pick up my refund check on Monday, August 20th. I don't know if this is an individual thing or if everyone will be able to do this Monday.
     
  13. docorange04

    docorange04 Member

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    Do yourself a favor and fill out a direct deposit form at the Bursar's office. Your refund each trimester will clear quicker than a hard check. I think it credits 1-2 days after signing the check, at least it does at my bank. Plus you don't have to worry about going to the bank.
     

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