SABA Lost TERI?

[oldpro]

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Just heard from a SABA student that TERI pulled out now!

I have posted warnings about Loan companies not lending private money anymore. I think if this is true you all better listen, If this continues only the Federal money will be left for the Big 3 and if your at SGU this should worry you since it is not enough you need private loans as well to go there.😎

 

[JoeNamaMD]

Teri went out of business. Schools that have Stafford Loans also have GradPlus which are Federal programs, these are still available.

 

[RussianJoo]

The "good" thing about SGU is that the main lending company ED-Invest that lends to SGU and that SGU recomends is owned by the owner of SGU so I don't think he'll ever pull his loans from SGU.

 

[JoeNamaMD]

I doubt the GradPlus loans are going away anytime soon, they are actually easier to get than a Private Loan, GradPlus only looks at serious delinquencies.

 

[oldpro]

I read another post where students at ROSS were warned about the Private loans (this is all private portions of borrowing including Sallie Mae) may be in jepody in the near future also, Look end of last year a lot of people posted that this would not happen, it has

I just want people to know as I did last year do not count on the schools claim watch your back cause they are not. They just want money.

In a report issued yesterday before Sallie Mae's earnings announcement, Morgan Stanley analysts Kenneth A. Posner and Andy Bernard warned that a recession could lead to higher loan losses. Meanwhile, leading Democrats have long favored having the government issue student loans directly rather than subsidizing private lenders such as Sallie Mae, the analysts wrote.

http://www.washingtonpost.com/wp-dyn/content/article/2008/04/16/AR2008041603503.html

Not just me the Washington post and others are telling us, The party for the caribbean may soon be over. (I still have to finance my last 6 months I hope I can there is no I will not finish I will somehow!)

 

[McGillGrad]

It is a risky business but medical school loans are far more secure than other types of student loans. Or so I have seen via repayment stats....somewhere.

 

[oldpro]

It is a risky business but medical school loans are far more secure than other types of student loans. Or so I have seen via repayment stats....somewhere.

I agree so it may just turn around but for now it seems that these loans were tied to Mortgages in the US.

 

[JoeNamaMD]

Medical school loan default rates are among the lowest of student loans, probably 1 in 1000 will default.

 

[McGillGrad]

There are still about 4 out of the original 15 banks that will go through TERI to loan you funds.

Once TERI gets out of Chapter 11 bankruptcy protection, the other banks should come back and start accepting new applications.