Apollo1

Deciding between MD/DO and PA
5+ Year Member
Sep 3, 2013
254
152
Status
Pre-Medical
Hey Everyone:

I've been considering taking out a semester's worth of loan money in order to take an EMT course along with a couple of upper level sciences, as my current employment is starting to become more of a hindrance than a help. I've been fortunate enough to avoid borrowing for school up to this point, but am somewhat ignorant when it comes to this topic and in need of help.

I won't qualify for federal loans, because my taken credit load is above the max limit. Any recommendations or personal experiences regarding credit unions vs. larger banks vs. Sallie Mae etc.? Thanks!
 
Oct 22, 2014
69
77
Status
Pre-Medical
wait, why EMT courses? just take the premed requirements (trying to understand your situation)

I have a personal student loan from a credit union (from my employer) at 5% which isn't so bad compared to FAFSA's 4.29%.
 
OP
Apollo1

Apollo1

Deciding between MD/DO and PA
5+ Year Member
Sep 3, 2013
254
152
Status
Pre-Medical
wait, why EMT courses?
Still considering the PA route at this time, plus a job in a hospital would make scheduling classes much easier.
 

GreenDuck12

5+ Year Member
Mar 30, 2014
534
253
You really need to take a look at the terms of the loan and the interest rate that you are offered. Some loans are quite reasonable (under 3 or 4%) others are much more expensive (7 or 8%). Largely, this is going to depend on how big of a loan you are looking to take out and how quickly you plan to pay it off. If you plan to pay off a loan quickly, the interest rate does not matter nearly as much. If you are borrowing less that $5,000 and will pay it back in 1 year or less, I wouldn't worry to much as long as the interest rate is below 7%. If you anticipate having the loan for a longer period of time, then the terms are really going to matter. One las thing: beware of variable interest rates especially if you plan on having the loan for multiple years as the Fed is about to raise interest rates. Best of luck!

Hey Everyone:

I've been considering taking out a semester's worth of loan money in order to take an EMT course along with a couple of upper level sciences, as my current employment is starting to become more of a hindrance than a help. I've been fortunate enough to avoid borrowing for school up to this point, but am somewhat ignorant when it comes to this topic and in need of help.

I won't qualify for federal loans, because my taken credit load is above the max limit. Any recommendations or personal experiences regarding credit unions vs. larger banks vs. Sallie Mae etc.? Thanks!