student loans

[rubberdam]

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Hi guys
My cosigners are hesitant to co-sign for a loan of over $200000. Does anybody know the cost of the international program in UMN and Colorado? I had called UMN they said that the cost will be mentioned at the time of interview.But I dont want to wait till the interviews to make a decision.

 

[amdoct]

Hello,
Go to the colorado school of dentistry website and under ISP program u will have the details of the tution for this year.I t will be prety much same for the next year.
If you need any information about Colorado feel free to PM me.

Hi guys
My cosigners are hesitant to co-sign for a loan of over $200000. Does anybody know the cost of the international program in UMN and Colorado? I had called UMN they said that the cost will be mentioned at the time of interview.But I dont want to wait till the interviews to make a decision.

 

[xuhaifeng]

just wonder how much you can borrow from a student loan? 100% tuition and or living expenses? If that is true I consider buy a home first.

 

[fido!]

gimme a day or two...i shall reply to all ur querries,my friend!i recently attended the umn interview....but currently out of my home-town!ok?

Hi guys
My cosigners are hesitant to co-sign for a loan of over $200000. Does anybody know the cost of the international program in UMN and Colorado? I had called UMN they said that the cost will be mentioned at the time of interview.But I dont want to wait till the interviews to make a decision.

 

[treasure]

Hi guys
My cosigners are hesitant to co-sign for a loan of over $200000. Does anybody know the cost of the international program in UMN and Colorado? I had called UMN they said that the cost will be mentioned at the time of interview.But I dont want to wait till the interviews to make a decision.

Hi,The cost at UMN is very similar to that of Upenn. About 16,000 for the summer program and about 110,000 in FEES only + living expenses. I did not pay attention to the living expenses component as it is not relavant to me.

Hope this helps...

Another tip regarding the cosigner dilemma is that you could probably have 3-4 different cosigners to take on smaller amounts of the loan if at all possible. That way, each of your co signers will probaly be looking at about 40,000 or so and that is not going to hurt their credit history too much....

Hope this helps,
Treasure

 

[NileBDS]

just wonder how much you can borrow from a student loan? 100% tuition and or living expenses? If that is true I consider buy a home first.

Hello XUHAIFENG.
Here's what I had to say about UPENN.

The maximum amount the school will let you borrwow (maximum amount of personal loans they will certify) is the COA (Cost Of Attendance) minus any financial aid you are receiving.
In other words, if the summer program is not included in UPENN's list of COA expenses, then the school can not certify it.
Usually the COA includes;
Tuition
Fees
Books
Computer expenses
Cost of living (rent, personal expenses, transportation)
So, say for the basis of the argument, the COA amounts to $60,000/yr, and you are receiving a total of $38,500/yr in Financial aid ($8,500 subsidized and $30,000 un-subsidized federal loans), then the maximum amount UPENN's financial aid dept. can certify for you will be
$60,000 - $38,500 = $21,500.
Having said that, I guess the funding for the SUMMER COURSE would have to be completely in personal loans (basically just like buying a new car or any personal loans), which have nothing to do with the school Some banks may make it easier for you to borrow that money, IF and only if, you can prove to them that you wil be paying it for educational purposes,
I hope it clears up some of the thoughts in your mind.
Good luck.

 

[kilani]

In other words, if the summer program is not included in UPENN's list of COA expenses, then the school can not certify it.

Having said that, I guess the funding for the SUMMER COURSE would have to be completely in personal loans (basically just like buying a new car or any personal loans), which have nothing to do with the school Some banks may make it easier for you to borrow that money, IF and only if, you can prove to them that you wil be paying it for educational purposes,
I hope it clears up some of the thoughts in your mind.
Good luck.

It doesn't seem fair at all 👎 , it's indeed money you are borrowing for education, right ? To pay for the summer course tuition. Why wouldn't the school certify that as part of the COA 😕

 

[net]

if i don't have any financial aid, will school let me borrow $60000/yr as COA?

Hello XUHAIFENG.
Here's what I had to say about UPENN.

The maximum amount the school will let you borrwow (maximum amount of personal loans they will certify) is the COA (Cost Of Attendance) minus any financial aid you are receiving.
In other words, if the summer program is not included in UPENN's list of COA expenses, then the school can not certify it.
Usually the COA includes;
Tuition
Fees
Books
Computer expenses
Cost of living (rent, personal expenses, transportation)
So, say for the basis of the argument, the COA amounts to $60,000/yr, and you are receiving a total of $38,500/yr in Financial aid ($8,500 subsidized and $30,000 un-subsidized federal loans), then the maximum amount UPENN's financial aid dept. can certify for you will be
$60,000 - $38,500 = $21,500.
Having said that, I guess the funding for the SUMMER COURSE would have to be completely in personal loans (basically just like buying a new car or any personal loans), which have nothing to do with the school Some banks may make it easier for you to borrow that money, IF and only if, you can prove to them that you wil be paying it for educational purposes,
I hope it clears up some of the thoughts in your mind.
Good luck.

 

[NileBDS]

if i don't have any financial aid, will school let me borrow $60000/yr as COA?

Hello.
Well, a short answer to your question is YES.
COA (in your case $60,000) - Financial aid received (in your case $0) = $60,000.
Now, the school doesn't "just let you" borrow the money, specially when it is such a large amount. What the school can do for you though, is "certify" that amount for a personal lender to dispense it to you. You will need to be approved for the loan by a personal lender, on basis of credit history, or in most cases a "co-signer" (some one who has a better credit history than yours and is approved for that specific amount, and will guarantee that you pay the money back in full + any interest accrued in that period).
The school then confirms (certifies) to whichever personal lender you choose that you are infact enrolled in their program full time, or at least part time, and will need that much amount of money for "Educational purposes".
Also, it is important to note that you may be approved by the personal lender for let's say $100,000. But still, you will only get the amount of money in which the school certifies (COA - FA).
Good luck.

 

[jojo-Z]

jojo here 😀
Could anyone help me out regarding my question?
What if I don't wanna live on campus, either i wanna rent or buy a house. Any money can be taken out from your student loan towards this matter or not ? If I wanna buy house, can I borrow money separatelly for my mortgage payments for the period I'm in school or can it be done thru your student loan ?
Anybody have an idea about this ? 🙄 I'd really appreciate it.
Thanks guys.
jojo out

 

[NileBDS]

jojo here 😀
Could anyone help me out regarding my question?
What if I don't wanna live on campus, either i wanna rent or buy a house. Any money can be taken out from your student loan towards this matter or not ? If I wanna buy house, can I borrow money separatelly for my mortgage payments for the period I'm in school or can it be done thru your student loan ?
Anybody have an idea about this ? 🙄 I'd really appreciate it.
Thanks guys.
jojo out

Hey JOJO.
I will say upfront, I do not have any personal experience in regards to that matter in specific, but I do have a related experience, and will say what I have to say based on that.
If you wish not to live on campus, all you would need to do is simply "not apply" for student/on-campus housing. In that event, you would still be eligible for "living expenses" as part of your Cost Of Attendance (COA) package. Anyways, the bank sends all the money to your school (in your case NYU I guess), which the school will use for your tuition, fees, books and so on. The rest of the money, whatever amount the school does not use for those mentioned expenses, will be refunded to you in the form of a check. You can then take that check, deposit it into your bank account, and use it however you wish. Whether for rent, mortgage, transportation or whatever.
Again, you would be best off calling your schools fin. aid dept., and speaking with a fin. aid advisor. Obviously, they are more knowlegable and qualified to answer your question more precisely. I just thought i'd weigh in my experience which may help you somewhat.
Good luck !

 

[NileBDS]

:
Originally Posted by
HI there...
u seem to know a lot abt the funding and loan stuff for coll.I appriciate not only that but also ur helping attitude.
GREAT....KEEP IT UP.
anyways,what i wanned to know is ....what is the approx % of intrest on the student loan and does it starts adding after the first day,or after the course is complete.
and secondly.....since these fee amounts are huge is it possible to pay it in a few yrs after the course along with managing ones one living.
For ur knoweldge,i am taking part I soon and intend to take addmiss. in California.(the fees here are approx 150,000 without living exp)
Ur help will be highly appriciated.......as i am much worried abt the finance.
Thanks

Hello ! I am deeply sorry for being late in replying, but I have been busy the last couple of days. Anyways, I am not even sure if I have responded to your question before or not, but I will try to respond in my best knowledge again.

Now firstly, about interest, it varies as the wind !

Federal (gov. financial aid.) is usually around %4-6, with a maximum limit of %8.25 (set by the gov.).

Federal loans are divided into
1. Subsidized loans (no interest accumilates while you are enrolled in school at least part time) max amount = $8,500/yr and
2. Un-subsidized loans (interest accumilates once the loan is withdrawn, similar to a private loan, but the interest % has a cap of %8.25) max amount = $30,000/yr. These amounts may change again.

For Private loans, it is based on your credit history. That is what will determine your interest % (APR). No one but the private lender will be able to determine your interest %. Private loans neither have a pre-set max. amount limit, nor do they have a max limit on the interest rate, unlike federal loans.

Now for re-payment. You are not required to make payments while enrolled at school at least for part-time. Once finished with school, you have a "grace period" of 6-9 months after which you will be required to make payments on your loan.
Loans are generally re-paid in monthly/yearly installments, over 5-10 upto 30 years, depending on which lender you chose.

I hope this helps you a little bit. I know it is confusing, but make sure to write me again if anything is unclear.

GOOD LUCK !

 

[boardssuccess]

Hi
I was wondering if anyone knew which institutions give the best rate of intrest to international students ??
Have heard that
Citi and
Sallie mae do
Any other that you'll can suggest for private loans for international students

 

[kilani]

Someone was recommending Access Group in another thread.

Hi
I was wondering if anyone knew which institutions give the best rate of intrest to international students ??
Have heard that
Citi and
Sallie mae do
Any other that you'll can suggest for private loans for international students

 

[boardssuccess]

Thanks man
Do you know which thread ??

Someone was recommending Access Group in another thread.

 

[kilani]

I can't remember the thread, it might have been in the financial aid section of SDN but you can check access group at http://www.accessgroup.com/

There is also another list of lenders here

Thanks man
Do you know which thread ??

 

[NileBDS]

Federal loans are divided into
1. Subsidized loans (no interest accumilates while you are enrolled in school at least part time) max amount = $8,500/yr and
2. Un-subsidized loans (interest accumilates once the loan is withdrawn, similar to a private loan, but the interest % has a cap of %8.25) max amount = $30,000/yr. These amounts may change again.

Hello everyone.
I just wanted to correct some of the information whcih I had posted earlier here (quoted above).
The $8,500 in subsidized and $30,000 in un-subsidized loans which graduate profesional students are eligible for is based on a 9 month period, and not a year.
In other words, you are eligible for a total of $38,500 in federal loans (both subsidized and un-subsidized) every 9 months, and not 1 year.
That would make for a total of $51,333 per year (12 months).
Thanks, and Good Luck !

 

[fido!]

thanks for the info,bro! 👍

Hello everyone.
I just wanted to correct some of the information whcih I have posted earlier here (quoted above).
The $8,500 in subsidized and $30,000 in un-subsidized loans which graduate profesional students are eligible for is based on a 9 month period, and not a year.
In other words, you are eligible for a total of $38,500 in federal loans (both subsidized and un-subsidized) every 9 months, and not 1 year.
That would make for a total of $51,333 per year (12 months).
Thanks, and Good Luck !