Paying for SGU - KBTGSP January 2012 Class

[CopperDopper44]

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Hey guys,

I was accepted into the Jan 2012 program a couple of days ago and just received my acceptance package in the mail yesterday. I just had time to look through it and the DOE exclusion situation finally sunk in. Not only are we not eligible for Federal Funded loans for the KBTGSP, but we aren't eligible for the full 4 years of school! How do they possibly expect banks to give up loans upwards of around 300k?

I was wondering if there are any people here on sdn, that have gotten into the program, if they can share how exactly they plan on paying for 4 years of medical school, without US Fed loans?

I have about 90k in undergraduate debt, since I went away from home for college and would like to think a private loan company would be more than willing to give a future professional a loan so they can make money off of them.

Also, has anyone ever heard of someone being "cut-off" from a loan company because they met a maximum amount of loaned money? Because of my already accumulated undergraduate debt I don't want to get through 2 years of medical school only to have my funds cut. Has anyone ever heard of this happening?


This is my first post ever on SDN, so sorry if this has been covered already! Thanks for your responses.

 

[Canuck455]

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[Heresthedoc]

CopperDopper, how has your situation come along? I was accepted for the August 2014 class (KBTGSP) and find myself in a very similar situation. If I may ask, how is the financial situation? That is the biggest concern for me. Hope everything turned out well!

 

[bedevilled ben]

CopperDopper, how has your situation come along? I was accepted for the August 2014 class (KBTGSP) and find myself in a very similar situation. If I may ask, how is the financial situation? That is the biggest concern for me. Hope everything turned out well!

I'd urge you to reconsider this decision if you're a US citizen. The DoE won't give you loans, and private loans are going to crush you financially. Also, although it's lower than the Grenada class, the KBT program still has a relatively high attrition rate. Furthermore, we just had clinical orientation meetings this week, and KBT students have more hoops to jump through for their residency placement for certain states. Unless you have somebody very wealthy backing you, I wouldn't recommend going this route. The vast majority of students that go to KBT are Canadian and able to secure government loans for it.

 

[Heresthedoc]

I'd urge you to reconsider this decision if you're a US citizen. The DoE won't give you loans, and private loans are going to crush you financially. Also, although it's lower than the Grenada class, the KBT program still has a relatively high attrition rate. Furthermore, we just had clinical orientation meetings this week, and KBT students have more hoops to jump through for their residency placement for certain states. Unless you have somebody very wealthy backing you, I wouldn't recommend going this route. The vast majority of students that go to KBT are Canadian and able to secure government loans for it.

Thanks for your reply! I guess I need to research how much I can take out federally, as I already have 30k in federal student debt. Thanks for the warning!

 

[fdoc93]

I'd urge you to reconsider this decision if you're a US citizen. The DoE won't give you loans, and private loans are going to crush you financially. Also, although it's lower than the Grenada class, the KBT program still has a relatively high attrition rate. Furthermore, we just had clinical orientation meetings this week, and KBT students have more hoops to jump through for their residency placement for certain states. Unless you have somebody very wealthy backing you, I wouldn't recommend going this route. The vast majority of students that go to KBT are Canadian and able to secure government loans for it.

Hi !
I applied for the KBT program for january 2015
What do you mean by ''KBT students have more hoops to go through for residency placement '' ?

 

[fdoc93]

Hey guys,

I was accepted into the Jan 2012 program a couple of days ago and just received my acceptance package in the mail yesterday. I just had time to look through it and the DOE exclusion situation finally sunk in. Not only are we not eligible for Federal Funded loans for the KBTGSP, but we aren't eligible for the full 4 years of school! How do they possibly expect banks to give up loans upwards of around 300k?

I was wondering if there are any people here on sdn, that have gotten into the program, if they can share how exactly they plan on paying for 4 years of medical school, without US Fed loans?

I have about 90k in undergraduate debt, since I went away from home for college and would like to think a private loan company would be more than willing to give a future professional a loan so they can make money off of them.

Also, has anyone ever heard of someone being "cut-off" from a loan company because they met a maximum amount of loaned money? Because of my already accumulated undergraduate debt I don't want to get through 2 years of medical school only to have my funds cut. Has anyone ever heard of this happening?


This is my first post ever on SDN, so sorry if this has been covered already! Thanks for your responses.

Hi !
I applied for the KBT JANUARY 2015.
I wanted to know about your impressions there ? Did you have any problem with residency placement ?

 

[bedevilled ben]

Hi !
I applied for the KBT program for january 2015
What do you mean by ''KBT students have more hoops to go through for residency placement '' ?

I'm not completely clear on the details because they didn't apply to me specifically. There are several states (California and New Jersey that I know of) that will not accept KBT students for clinicals or residencies because they have some unusual guidelines about students completing the first two years of medical education in the same country. That pretty much locks you into doing your rotations in NY. There is also some additional paperwork-type stuff that has to be done that can complicate an already tight schedule. I've heard a rumor that the DoE is now allowing US students to take out loans again for the KBT program, so you should investigate that more. Check with the DoE directly, DO NOT just take the school's word for it.

 

[zaidss786]

Hey,
I am a Canadian student and Ive gotten into the KBTGSP for Jan 2015. But ive become very hesitant upon hearing that you cannot get residency in NJ. Since NJ is the second largest state in which SGU graduates have found residency, is this a big disadvantage ? Can you please advise me if GSP is a good choice or not is there any advantages or disadvantages ?