not getting enough loan.......

[eye_candie]

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hi,

i just received my award letter from sco yesterday and i'm not getting enough loans at all. i've already maxed out my perkins, subsidized stafford and health profession and that pretty much only covers my tuition. i still need about $10,000 per year for other expenses. i don't want to loan from unsubsidized since i will be accruing interest every 3 months. do a lot of students have to take out from unsubs? does anybody know where else i can get a better deal on loans? is the bank any good. i'm so stressed out right now. if anybody have any tips on financial aid, or maybe somebody already went through what i'm going through. please give me some advice. thank you so much!

 

[rpames]

hi,

i just received my award letter from sco yesterday and i'm not getting enough loans at all. i've already maxed out my perkins, subsidized stafford and health profession and that pretty much only covers my tuition. i still need about $10,000 per year for other expenses. i don't want to loan from unsubsidized since i will be accruing interest every 3 months. do a lot of students have to take out from unsubs? does anybody know where else i can get a better deal on loans? is the bank any good. i'm so stressed out right now. if anybody have any tips on financial aid, or maybe somebody already went through what i'm going through. please give me some advice. thank you so much!

Pretty much everyone takes unsubsidized loans, you are not alone.

 

[sco1styear]

Pretty much everyone takes unsubsidized loans, you are not alone.

Unfortunately

 

[cpw]

Pretty much everyone takes unsubsidized loans, you are not alone.

ditto. Almost half my loans were unsubsidized. Just try to stay away from the private loans... that's where they kill ya. At least the unsubs are still at a VERY low interest rate.

 

[eye_candie]

thanx guys for replying....yeah i thought the fed loans are at low interest rates..well they are right now...stafford is @ 4.7% right now, but it will jump up to 6.8% this july 1st, and is supposely going to stay fix at 6.8% from now on according what i was told from the financial aid office 🙁

 

[eyestrain]

thanx guys for replying....yeah i thought the fed loans are at low interest rates..well they are right now...stafford is @ 4.7% right now, but it will jump up to 6.8% this july 1st, and is supposely going to stay fix at 6.8% from now on according what i was told from the financial aid office 🙁

It's too bad you weren't entering Optometry school a couple years ago. My first three years are consolidated at 3.3%. The interest rate is nice, but when it's applied to nearly $150,000, it adds up (although not nearly as bad as it would at 6.8%).

 

[aarlan]

I think we're all going unsubsidized...I don't know of any way around it. Like one of the above posters, though, the unsub is better than some of the private alternatives. Besides, if the worst thing we had to do to become Doctors of Optometry was to take out a few grand in unsubs, we'll be fine.

Now, if we could only find a way to stop those insurance companies and corporates from diluting our future profession...

AA

 

[cpw]

It's too bad you weren't entering Optometry school a couple years ago. My first three years are consolidated at 3.3%. The interest rate is nice, but when it's applied to nearly $150,000, it adds up (although not nearly as bad as it would at 6.8%).

I graduated at EXACTLY the right time. My loan is locked in at 2.7% fixed. 😀 Right before the very first rate hike last July.

 

[aarlan]

Don't make us lynch you 😀


AA

 

[eye_candie]

thnx guys, i feel better now knowing that most ppl have to take out unsubs. but u guys are so lucky ur rates are so low. i'm so pissed that it's 6.8% now.

 

[stompy]

thnx guys, i feel better now knowing that most ppl have to take out unsubs. but u guys are so lucky ur rates are so low. i'm so pissed that it's 6.8% now.

It's still better than business loans you would take out if you're interested in building your own practice.

 

[stompy]

I graduated at EXACTLY the right time. My loan is locked in at 2.7% fixed. 😀 Right before the very first rate hike last July.

Given the rate of inflation...you're actually making money by taking out loans...

 

[cpw]

Given the rate of inflation...you're actually making money by taking out loans...

Yeah, I'm taking the extra money I'm not paying each month in loan payments and investing it. So far, I'm beating my loans rate so I am making money off not paying my loan back faster.

 

[cpw]

Don't make us lynch you 😀


AA

Don't hate me !! I did my homework investigating loan consolidation companys. (and them all my classmates mooched off my info) 😡 I told my loan advisor he'd have to give me half of the comissions he was getting when five of my classmates called him.

 

[drgregory]

most new grads can work off those loans by putting a couple of years in at a wally world. (sarcasm)

 

[still_confused]

most new grads can work off those loans by putting a couple of years in at a wally world. (sarcasm)

good plan , since it seems that many older optometrist feel that the new grads are sellouts and incompetant and that commerical venues are inevitable, i dont see why i shouldnt get with the trend so that i dont get left behind. and hey, if many currents opts are unhappy with thier situation, i think itll be smarter to get paid well and be an unhappy optometrist at walmart rather then a poor and unhappy optometrist working at a private practice that is about to be extinct anyways.

the good of the profession? why should i help promote a mode of practice where people end up bitter and unhappy with thier profession? all i read are people moaning about the current state and how everyone is selling out and who REALLY deserves the title of "doctor." might as well just join up with walmart to crush the disgruntled private practioners (put them out thier misery) and get PAID.

/sarcasm off

 

[still_confused]

For the OP on a serious note

i think everyone will be taking out unsub loans. my cousins who went to med school also took out a bunch of unsub loans so it is not just for opt school. professional programs are expensive and we dont ge the type of funding we get from the government (grants) but since there is nothing we can do about it, its best just to not think about it too much and just be as frugal as possible as not to rack up a bunch of debt. almost everyone is in your shoes and i am sure we will all get through it

 

[prettygreeneyes]

😀

good plan , since it seems that many older optometrist feel that the new grads are sellouts and incompetant and that commerical venues are inevitable, i dont see why i shouldnt get with the trend so that i dont get left behind. and hey, if many currents opts are unhappy with thier situation, i think itll be smarter to get paid well and be an unhappy optometrist at walmart rather then a poor and unhappy optometrist working at a private practice that is about to be extinct anyways.

the good of the profession? why should i help promote a mode of practice where people end up bitter and unhappy with thier profession? all i read are people moaning about the current state and how everyone is selling out and who REALLY deserves the title of "doctor." might as well just join up with walmart to crush the disgruntled private practioners (put them out thier misery) and get PAID.

/sarcasm off

Awesome... 👍 👍 👍