NYU loan changes

[kalvydas]

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Today I received e-mail:

"Dear Prospective Student:

Congratulations on your acceptance to New York University College of
Dentistry. Due to recent events regarding financial aid for international
students, we have attached a letter being sent to all admitted international students. Please read this letter carefully.

If you have already sent us a deposit and this additional information
changes your intent to enroll at NYUCD, we will refund your deposit as long
as you notify us no later than March 6, 2009.

Please let us know if you have any questions or need assistance."

And the letter is:


" Information for International Students Applying for Financial Aid


Dear Prospective Student:

As you may be aware, the current U.S. Banking crisis has made access to financial aid more difficult, especially for international students. In past years New York University, in cooperation with major lending institutions, has been able to offer international students access to private loans that did not require a U.S. co-signer. But as of this date, private loans for international students without a U.S. co-signer do not exist. NYU is currently negotiating with several major U.S. lenders for an international student loan program that does not require a co-signer. Yet it is possible that such a program may not be in place in time for your June 1, 2009 enrollment date.
Because of this situation and until a new loan program is in place, the most expeditious ways of securing the financing you need are the following:

• Apply for loans from lenders in your country of citizenship or residence.
• Secure a U.S. co-signer

Due to the present uncertainty in the loan marketplace, if the only way you are able to finance your education and begin your studies at NYU College of Dentistry is by securing a private U.S. loan, and if in addition, you do not have a U.S. co-signer, we suggest that you inform us of that fact as soon as possible prior to submitting your non-refundable $5000.00 deposit.
<...>

· All admitted students must provide medical clearance and show proof of visa or U.S. Permanent Residency no later than April 15, 2009 or admission will be rescinded.

· Full tuition is due May 1, 2009.


We truly wish we had more positive information to offer you regarding private U.S. loans. We will keep you informed of any new developments as they occur."


Looks like there will be no loans for international students without co-signer. It shouldn't affect ones eligible for federal loans, though.

I think this change can have huge impact on admission, as not everyone will have co-signer, or will get loans from their home country lender

 

[La fea]

Sad reality of our time. 🙁😱

 

[jimrk120884]

very sad news...
a perfect case of KANGAALI AUR AATA GEELA....

 

[BENNY4567]

is it possible to get loan if cosigner is from canada or we require cosigner from US only

 

[pollen]

All admitted students must provide medical clearance and show proof of visa or U.S. Permanent Residency no later than April 15, 2009 or admission will be rescinded. ....

Hi friends,
does the above statement mean that we need to have US student visa and cleared medicals before april 15th.... I am confused as I am having my interview in late march..If I am getting acceptance only in april, how can I proceed? Please throw some light on me....

 

[yahoodentist]

Interesting. I believe that's why NYU is presently accepting / calling interview calls of permanent resident students. So they do not have problem of getting loans. In other words, I have some friends who got interview calls with lower NBDE (below 85) and also lower GPA (below 3.0). However, they have GC which brought an advantage. 🙂 On other side, some of my friends who are on student visa with 87 - 88 NBDE are not getting calls from NYU. 😱

Anyway, I did not apply in NYU. 😀

 

[mini80]

Hi guys,
Do u think its wise to take 270-300k loan for NYU ? In how much time we'll be able to repay this huge loan ??

 

[pollen]

Today I received e-mail:

"Dear Prospective Student:

Congratulations on your acceptance to New York University College of
Dentistry. Due to recent events regarding financial aid for international
students, we have attached a letter being sent to all admitted international students. Please read this letter carefully.

If you have already sent us a deposit and this additional information
changes your intent to enroll at NYUCD, we will refund your deposit as long
as you notify us no later than March 6, 2009.

Please let us know if you have any questions or need assistance."

And the letter is:


" Information for International Students Applying for Financial Aid


Dear Prospective Student:

As you may be aware, the current U.S. Banking crisis has made access to financial aid more difficult, especially for international students. In past years New York University, in cooperation with major lending institutions, has been able to offer international students access to private loans that did not require a U.S. co-signer. But as of this date, private loans for international students without a U.S. co-signer do not exist. NYU is currently negotiating with several major U.S. lenders for an international student loan program that does not require a co-signer. Yet it is possible that such a program may not be in place in time for your June 1, 2009 enrollment date.
Because of this situation and until a new loan program is in place, the most expeditious ways of securing the financing you need are the following:

• Apply for loans from lenders in your country of citizenship or residence.
• Secure a U.S. co-signer

Due to the present uncertainty in the loan marketplace, if the only way you are able to finance your education and begin your studies at NYU College of Dentistry is by securing a private U.S. loan, and if in addition, you do not have a U.S. co-signer, we suggest that you inform us of that fact as soon as possible prior to submitting your non-refundable $5000.00 deposit.
<...>

· All admitted students must provide medical clearance and show proof of visa or U.S. Permanent Residency no later than April 15, 2009 or admission will be rescinded.

· Full tuition is due May 1, 2009.


We truly wish we had more positive information to offer you regarding private U.S. loans. We will keep you informed of any new developments as they occur."


Looks like there will be no loans for international students without co-signer. It shouldn't affect ones eligible for federal loans, though.

I think this change can have huge impact on admission, as not everyone will have co-signer, or will get loans from their home country lender

Hi Kalvydas,
Congratulations on your acceptance... Dont worry... U will get your problem sorted soon... Have ur hopes high...Just a quick question...Wat about people who get accepted in nyu last mt....Will they give them enough time to arrange for visa and tuition...
Thanks in advance...