NOVA Loans

[lcoli002]

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hey guys i wanted to know how much the deposit is for Nova's acceptance? what if you don't have the money to pay for it at the moment? when do they deposit the loans?
thanks

 

[nicmc]

hey guys i wanted to know how much the deposit is for Nova's acceptance? what if you don't have the money to pay for it at the moment? when do they deposit the loans?
thanks

Not sure how much the deposit it, but you won't get your student loans deposited until school actually starts in August.

 

[jdom29]

hey guys i wanted to know how much the deposit is for Nova's acceptance? what if you don't have the money to pay for it at the moment? when do they deposit the loans?
thanks

$250 to hold your seat til april 15
and then after that date it's $750 to hold it til orientation i believe

 

[janedoe88]

hey guys i wanted to know how much the deposit is for Nova's acceptance? what if you don't have the money to pay for it at the moment? when do they deposit the loans?
thanks

If you don't have enough money for a deposit...do you really think 4 years of 40K+ tuition is possible...remember you have to pay the loans back EACH year or take in A LOT of interest, like 6-10%. The loan where you pay after you graduate is no longer provided to students from the government.

 

[nicmc]

If you don't have enough money for a deposit...do you really think 4 years of 40K+ tuition is possible...remember you have to pay the loans back EACH year or take in A LOT of interest, like 6-10%. The loan where you pay after you graduate is no longer provided to students from the government.

You still pay loans after graduation from the government, the change is that there are no more subsidized loans- meaning that interest accrues while you are still in school. However, you still pay them back after you graduate.

 

[janedoe88]

You still pay loans after graduation from the government, the change is that there are no more subsidized loans- meaning that interest accrues while you are still in school. However, you still pay them back after you graduate.

Well duh you still have to pay them back 0_0...I was saying that since there are no more subsidized loans there will be TONS of interest if she's not able to pay her loans back each year.

 

[Shnurek]

The loan where you pay after you graduate is no longer provided to students from the government.

Yeah, this sentence makes no sense that's why nicmc got confused. But you are right about the subsidized loans. No more freeloading off the govt for me. I used to just take out the sub ones and pay them back immediately after graduation so no interest ever accrued. All federal loans should just be cut, period. Would drop tuition immensely.

 

[nicmc]

Well duh you still have to pay them back 0_0...I was saying that since there are no more subsidized loans there will be TONS of interest if she's not able to pay her loans back each year.

I am not an idiot janedoe- I know you have to pay back your student loans. I was saying that that sentence was wrong. You pay them back after graduation, not while you are still in school. Yes, there is a lot of interest, but how many people can actually pay back the loans each year? I would say almost no one, because if you had the money, why take out loans in the first place? Do you plan on making $30,000 at a summer job?

 

[lcoli002]

thanks everyone, i know i have to take out loans when i start optometry school but right now i dont have money to pay the full deposit......dont they give us the loan before august?

 

[Shnurek]

thanks everyone, i know i have to take out loans when i start optometry school but right now i dont have money to pay the full deposit......dont they give us the loan before august?

 

[janedoe88]

I guess I just don't understand how someone that can't afford $250-750, will be able to pay back the 120k loan WITH INTEREST after she graduates.

 

[Shnurek]

I guess I just don't understand how someone that can't afford $250-750, will be able to pay back the 120k loan WITH INTEREST after she graduates.

Exactly my point. Some people have no sense of financial responsibility whatsoever.

 

[lcoli002]

janedoe88 right now i can't afford it but once i graduate i will have a stable job as an optometrist and i'll be able to pay the loans back. right now im finishing my bachelors and im a full time student living with my parents. I can't work.

Shnurek i do have sense of financial responsibility, i paid for my whole undergrad by myself without taking out any loans, i think thats pretty responsible. and i don't mean to be rude but i think that you shouldn't judge someone without knowing what situation their coming from. I posted this thread because im sure there are many other students in the same situation im in and i just wanted some advice.

 

[Shnurek]

You can try taking out a low interest bank loan for the deposits.

 

[Chip Chipperson]

Just going to add that getting a bank loan will be difficult if you're young and don't have much of a credit history. I worked at a big bank that was extremely stingy about who they offered unsecured lines of credit to. If your parents (assuming they're not deadbeats) are willing to co-sign, however..

 

[janedoe88]

Exactly my point. Some people have no sense of financial responsibility whatsoever.

This is ridiculously accurate lol. I love how she thinks she'll get a high paying job RIGHT after she graduates -__-

Listen, if you're ALREADY having money issues, you don't want to be taking out 100k loans...just a piece of advice.

 

[Shnurek]

This is ridiculously accurate lol. I love how she thinks she'll get a high paying job RIGHT after she graduates -__-

Listen, if you're ALREADY having money issues, you don't want to be taking out 100k loans...just a piece of advice.

Yea, IF she even gets a job at all. 3 new schools just opened up and by 2016 or w/e there will be a flood of ODs. Right now even I hear cases of 20 ODs applying for 1 position. Imagine what it will be a few years from now. If you want to work in southern cali expect 65k-75k. Same thing is going to happen to us as the lawyers. Going to a top opto school helps in getting hired later.

 

[lcoli002]

Yea, IF she even gets a job at all. 3 new schools just opened up and by 2016 or w/e there will be a flood of ODs. Right now even I hear cases of 20 ODs applying for 1 position. Imagine what it will be a few years from now. If you want to work in southern cali expect 65k-75k. Same thing is going to happen to us as the lawyers. Going to a top opto school helps in getting hired later.

Shnurek: what is your purpose in writing all these negative comments? to discourage me from becoming an optometrist? because if thats what your goal is, it's not working. i realize that our country is going through an economic crisis right now, but we cant think that just because the job market is hard right now; we can't become well rounded professionals. it's not just optometry thats suffering its all careers.

 

[ATXDesi]

janedoe88 right now i can't afford it but once i graduate i will have a stable job as an optometrist and i'll be able to pay the loans back. right now im finishing my bachelors and im a full time student living with my parents. I can't work.

Shnurek i do have sense of financial responsibility, i paid for my whole undergrad by myself without taking out any loans, i think thats pretty responsible. and i don't mean to be rude but i think that you shouldn't judge someone without knowing what situation their coming from. I posted this thread because im sure there are many other students in the same situation im in and i just wanted some advice.

If you TRULY cant pay, find a way. There is no way around the deposit as it helps guarantee your seat...plus that may or may not be applied to your first semester fees (not sure at NOVA).

You stated you live with your parents..asking for $1K is not bad when your taking the other $119K with loans..it is an investment into your education. Get a job for the summer and work to pay them back, go door to door asking for support, talk to friends and family..you maybe surprised with the response you get....

as for loans, everyone is right with no subsidized..so either fill out FAFSA (have you done this?) and be prepared for the whopping 6.8% we unlucky folk are stuck with or go private with a cosigner to get a lower rate. Either way things will be sent to the school and dispersed sometime the first month of school.

 

[janedoe88]

Shnurek: what is your purpose in writing all these negative comments? to discourage me from becoming an optometrist? because if thats what your goal is, it's not working. i realize that our country is going through an economic crisis right now, but we cant think that just because the job market is hard right now; we can't become well rounded professionals. it's not just optometry thats suffering its all careers.

He was simply stating the facts--it's very hard to get a job after graduation these days.

The reality is that most Optometry students will be getting some financial help from their parents (even if it is just the deposit), so financing her entire Optometry career, while already being in a financially-tough situation is going to be very very difficult, but yes it theoretically could be done.

 

[lcoli002]

If you TRULY cant pay, find a way. There is no way around the deposit as it helps guarantee your seat...plus that may or may not be applied to your first semester fees (not sure at NOVA).

You stated you live with your parents..asking for $1K is not bad when your taking the other $119K with loans..it is an investment into your education. Get a job for the summer and work to pay them back, go door to door asking for support, talk to friends and family..you maybe surprised with the response you get....

as for loans, everyone is right with no subsidized..so either fill out FAFSA (have you done this?) and be prepared for the whopping 6.8% we unlucky folk are stuck with or go private with a cosigner to get a lower rate. Either way things will be sent to the school and dispersed sometime the first month of school.

thanks for your advice and yes i already started looking for a summer job once i finish this semester. My parents are going to help me with the deposit but they are making a huge effort to help me which is why i was aking about the loans. as far as the FAFSA application i've already filled it out, i've had partial financial aid thoughout my undergrad. thanks again.

 

[jcord]

This is ridiculously accurate lol. I love how she thinks she'll get a high paying job RIGHT after she graduates -__-

Listen, if you're ALREADY having money issues, you don't want to be taking out 100k loans...just a piece of advice.

Well for ur info not every DOCTOR started with money. Some people make something out of nothing, Don't be so "positive" about it.

 

[jcord]

I guess I just don't understand how someone that can't afford $250-750, will be able to pay back the 120k loan WITH INTEREST after she graduates.

REALLY! The fack that someone does not have the money DOES NOT mean that he or she can pay back a loan. Speak for ur self.

 

[janedoe88]

REALLY! The fack that someone does not have the money DOES NOT mean that he or she can pay back a loan. Speak for ur self.

It just seems like if you can't pay $250 before you get yourself into debt, what's going to happen when you graduate with $120k...just file for bankrupt? lol

 

[Shnurek]

It just seems like if you can't pay $250 before you get yourself into debt, what's going to happen when you graduate with $120k...just file for bankrupt? lol

Can't do that. The debt stays with you for life, can't discharge it by filing for bankruptcy. Sucks :/

 

[QueenieCSS]

It just seems like if you can't pay $250 before you get yourself into debt, what's going to happen when you graduate with $120k...just file for bankrupt? lol

.....or find a job like the majority of us that are going to graduate with that kind of debt. It's more important to be careful that you don't spend like a crazy person while you are in school.

Most of us don't come from money, and it will be hard if you have trouble coming up with the deposit now, but it is not an impossibility.

Good luck to the OP!

 

[janedoe88]

Can't do that. The debt stays with you for life, can't discharge it by filing for bankruptcy. Sucks :/

damn that does suck. plus you'd probably have debt-collectors constantly bothering you with calls. I was thinking of asking my parents to mortgage their house...does anyone know if this is a better alternative than loans?

 

[ATXDesi]

damn that does suck. plus you'd probably have debt-collectors constantly bothering you with calls. I was thinking of asking my parents to mortgage their house...does anyone know if this is a better alternative than loans?

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