USAA Loan

[panamera]

For all you USAA members,

There have been threads on this USAA loan before, but I called for more current info and this is what I got:

USAA is offering a $25K loan at an APR as low as 3% (was 5% last year) for HPSP medical students who are within 12 months of graduating. USAA does not publicly advertise this loan themselves, and it is supposedly only known by word of mouth.

If you want more info, you need to call the USAA Career Starter Office yourself. The direct line is 1-800-531-4610. Just say that you're interested in the special loan for commissioned officers in an ADVANCED DEGREE PROGRAM. There's a lot of paperwork to prepare, but I think we're all used to that by now. There are also some prereqs such as having a USAA checking acct and having direct deposit with that account. I only found out about this loan by browsing through some old threads, and felt obligated to share.

If you hear something different when you call, please share!

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[militaryman]

For all you USAA members,

There have been threads on this USAA loan before, but I called for more current info and this is what I got:

USAA is offering a $25K loan at an APR as low as 3% (was 5% last year) for HPSP medical students who are within 12 months of graduating. USAA does not publicly advertise this loan themselves, and it is supposedly only known by word of mouth.

If you want more info, you need to call the USAA Career Starter Office yourself. The direct line is 1-800-531-4610. Just say that you're interested in the special loan for commissioned officers in an ADVANCED DEGREE PROGRAM. There's a lot of paperwork to prepare, but I think we're all used to that by now. There are also some prereqs such as having a USAA checking acct and having direct deposit with that account. I only found out about this loan by browsing through some old threads, and felt obligated to share.

If you hear something different when you call, please share!

Some more info. I spoke with USAA and I was told this loan is only good within 1 year of your original commisioning date.

 

[Slevin]

So for us HPSP folks this loan is no good then? I was commissioned back in 08 before classes started and now I'm within one year of graduation so would I qualify?

 

[SeminoleFan3]

So for us HPSP folks this loan is no good then? I was commissioned back in 08 before classes started and now I'm within one year of graduation so would I qualify?

No, it's from your graduation date (which is your commissioning to AD). It's tricky, but I'm positive that's true (as I got the loan).

 

[AF M4]

I was commissioned in 2003 and got the loan in 2008 at 2%. It was like free money and it's one of the reasons I love USAA. I had to call twice. The first person was unsure of the whole HPSP thing. So I called again the next day, got a different person. Told her I knew of so-and-so (my buddy) who was also HPSP, had a USAA account and received the loan. Had the loan application in my mailbox by the end of the week.

It also helps if you actually have a checking and/or a savings account with more than $20 in them too.

Don't take no for an answer here fellas, this is a great deal. It's time to learn how to work with a financial institution.

 

[panamera]

Some more info. I spoke with USAA and I was told this loan is only good within 1 year of your original commisioning date.

I think the USAA rep may be getting confused with the loan for LINE officers. This is the same discrepancy that occurred in a previous thread (posts #11-12):

http://forums.studentdoctor.net/showthread.php?t=374874

Try talking to a different rep and emphasize the whole "I'm a commissioned officer in an ADVANCED DEGREE PROGRAM and am graduating soon" business. I think the loan is a pretty sweet deal, and the USAA customer service, as usual, was fantastic. Got approved the same day. I wish I got the extremely low 2% APR like AF M4, but the rate they offered me was still very good.

 

[Slevin]

What type of paperwork do you have to provide them to get the loan?