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NYCOM 2006 Financial Aid question

Discussion in 'Medical Students - DO' started by JonDO, Jun 11, 2002.

  1. JonDO

    JonDO Member 10+ Year Member

    42
    0
    Mar 28, 2002
    Tacoma, WA
    I'm just wondering if you guys received any kind of communication from the NYCOM Financial Aid Office about how much money you'd be getting? Will they be sending us a piece of paper saying how much money we get?

    I'm not sure if I should even be worrying about it, but I am. <img border="0" title="" alt="[Frown]" src="frown.gif" />
     
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  3. Smileyfree

    Smileyfree Member 7+ Year Member

    62
    0
    Dec 16, 2001
    New York
    Hey John,
    I had been wondering the same thing. It's pretty scary not knowing how much money you have... or how much more your going to have to find. So, I've called and I've visited the financial aid office and got some (but not all) answers. They are putting the MSI financial aid packets together as we speak but we will not be receiving them until the orientation. All NYCOM med students are guarenteed $38,500 in federal loans, the rest has to be through other means such as through private loans, scholorships, gifts, etc. Considering the estimated budget they provided that still leaves quite a bit of money to find. If you have any other questions I'll help out the best I can and give them a call if you need to. They're not super nice :confused: (actually they aren't that helpful at all) :confused: but if you ask specific questions you just may get them answered. See you in August! <img border="0" alt="[Clappy]" title="" src="graemlins/clappy.gif" />
     
  4. JonDO

    JonDO Member 10+ Year Member

    42
    0
    Mar 28, 2002
    Tacoma, WA
    Thanks Smileyfree, I know exactly what you mean about the FAO not being much of a help. Sometimes it seems as if I'm confusing them with my questions as well. <img border="0" alt="[Laughy]" title="" src="graemlins/laughy.gif" />
    Regarding alternative loans, are we suppose to go through NYCOM Financial Aid office to get it, or do we go out on our own and get it? Personally I'd prefer that I get it myself, so I'd know for sure that I'll be able to live and eat. <img border="0" title="" alt="[Frown]" src="frown.gif" />
     
  5. Jersey Girl

    Jersey Girl Member 7+ Year Member

    110
    0
    Feb 17, 2002
    Central Jersey
    Hi guys. I am going to NYCOM in august, and I am in the same boat. You should have recieved a packet in the mail a while ago that had your Fafsa, loan entrace interview paperwork, costs of living advance application etc... If you didn't do all of that stuff, call the FAO at NYCOM and get that done. Like John DO said, you are going to get the 38, 500 for sure. All medical students can if they choose. If that isn't enough, you have to seek out private alternative loans. I applied for another 12,000 in private alternative loans and was just approved last week. I used key's medachiever loan. They had the most competative rates with a 4.20% interest. This is who NYCOM's FAO is telling us to use. Here is how it works, you call 1-800keylend. You file over the phone with a representative (takes a few minutes). They get back to you in 2 days and tell you if you were approved. If you were not approved, you will need a cosigner. If you are approved, they send the promisary note in the mail to your home address. You date and sign it, then send it to NYCOMs FAO. NYCOM finalizes everything and adds it to your financial aid package. Then you are given this alternative money from key in 2 disbursements. One in September and one in December. Just keep in mind, you can't borrow more than $52,000 a year. So if you are taking the full 38,500, you cannot exceed more than about $13,000 in private loans. If you have questions, call the FAO and check with them. But they aren't much help. You are better off calling the 1-800 number and talking with a key rep and asking them all of your questions.
     
  6. labruy69

    labruy69 Member 7+ Year Member

    43
    0
    Apr 1, 2002
    NY
    Thanks Jerseygirl!! I was wondering how to get more than the 38.5K I called the FAO, but as we all know, that was a waste. look forward to seeing you in August.
     

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