Optometry1987

10+ Year Member
5+ Year Member
May 15, 2008
39
0
Status
Pre-Health (Field Undecided)
Can anybody tell me how this works at their schools? Do you have to put a down-payment first then continue to take loans out or can you go into opt school using the schools loans?

Thanks in advance
 

a1bui

10+ Year Member
5+ Year Member
May 10, 2005
127
0
34
Status
Optometry Student
For US residents applying to US schools, it's pretty simple. Everyone applies for FAFSA loans, which are government based. Since it's graduate school, you file independent, so it doesn't matter what your parent's income is. They give you their different types of loans (Perkins, Stafford, etc.), usually enough to cover tuition. Then, if you need any more, you can take out private loans.

All loans go directly to the school, without a penny from you (while in school). Any extra that's left over goes to you via direct deposit or check (spending money). Everything you borrow NOW, you'll pay off later, with interest.

So, to answer your question directly...No, you don't need a down payment; Yes you can go to school directly with loans. Of course if you have spare money to pay part of tuition, then you can save yourself borrowing with interest.
 

eyepoker

10+ Year Member
Jan 29, 2008
115
0
Status
Optometry Student
Hey guys, which lenders do you choose? I am attending SUNY, and they said that basically it's up to me which bank I wanna choose.

I am totally new to this bc I didn't have to borrow for undergrad. I did a little bit of research, so far Chase bank looks ok (no original fee or any other fee, and they give you 1% reduction when entering repayment).

But I would like to hear from all the new opt students, 1st, 2nd, 3rd, 4th yrs and optometrist---how do you choose your lenders and which bank has better program??

Please share your opinion :)
 

a1bui

10+ Year Member
5+ Year Member
May 10, 2005
127
0
34
Status
Optometry Student
besides FAFSA loans, the next best thing is GradPlus loans. They're private but are federally sponsered so you can borrow all costs towards your tuition, it's more flexible, and interest rate is better (fixed). You can get GradPlus loans from anywhere...I went with SallieMae. The only differences are the different repayment benefits.

Here's NOVA's guide to loans (very helpful): http://www.nova.edu/cwis/finaid/information/alternative.html
 

cherryplum

10+ Year Member
Jan 6, 2008
17
0
san francisco
Status
Optometry Student
Hey guys, which lenders do you choose? I am attending SUNY, and they said that basically it's up to me which bank I wanna choose.

I am totally new to this bc I didn't have to borrow for undergrad. I did a little bit of research, so far Chase bank looks ok (no original fee or any other fee, and they give you 1% reduction when entering repayment).

But I would like to hear from all the new opt students, 1st, 2nd, 3rd, 4th yrs and optometrist---how do you choose your lenders and which bank has better program??

Please share your opinion :)
hey eyepoker,
I'm in the same boat as you. just wondering where you got the info on the Chase loan. last time I contacted them (or any bank for that matter) they said they couldn't tell me their lender benefits for the 2008-2009 school year until July. I feel so blind just picking one at random. probably going with chase, citibank, or bank of america.