Private Loans above the $18,500 stafford

  1. Anyone know which private loans will give you the money irregardless of how much financial aid you are receiving. Some loans go by what your school dictates and subtracts their loan from whatever other financial aid you are getting. I have been approved by Teri for two of their loans for health care students but not sure if it just covers unmet need or will give you the max amount no matter what.

    Thanks
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  2. Visit fallonrn profile page

    About fallonrn

    Joined: Sep '03; Posts: 70; Likes: 2

    4 Comments

  3. by   krinklesRN
    Quote from fallonrn
    Anyone know which private loans will give you the money irregardless of how much financial aid you are receiving. Some loans go by what your school dictates and subtracts their loan from whatever other financial aid you are getting. I have been approved by Teri for two of their loans for health care students but not sure if it just covers unmet need or will give you the max amount no matter what.

    Thanks
    i recently applied for and received a $30,000 loan from Sallie Mae ((tuition answer loan)). it is a credit based loan, is independent of 'financial need,' and is dispersed directly to you ((not to the school first)).

    hope that helps!
    krinkles RN
  4. by   JCRN03
    I too am investigating financial aid resources. I don't know many details about this particular loan yet, but here is what I know. Wells Fargo has a MedCap Alternative loan for Health Professionals. I beleive you can borrow up to $100,000. The interest rate is approx. 5.25%. Details can be found through this website www.mtmc.edu/financialaid/alternativeloanscontacts.html I hope this helps.
  5. by   rn29306
    i shopped around and bank of america has a secondary educational loan that had full deferred int and payments and the origionation fee was added on top of the amount i borrowed, in other words i got a check for the actual $30,000. some lenders take the money from the awarded money and you end up with a mid 20s check instead of the full amount, it is all in what you want.
    for those of you looking to start school soon, i would suggest you get pre-approved WHILE YOU HAVE A JOB. if you wait until you are unemployed during school, then they require a co-signer. it is very humbling to go to your parents as a 27 y/o grown man and ask them to co-sign a loan.

    oh yeah, wear nice clothes when you deposit the check at the bank. most likely you'll meet everyone, including the president of the bank. i stopped by with a $2 tshirt on and it was kind of funny.
  6. by   krinklesRN
    Quote from rn29306
    i shopped around and bank of america has a secondary educational loan that had full deferred int and payments and the origionation fee was added on top of the amount i borrowed, in other words i got a check for the actual $30,000. some lenders take the money from the awarded money and you end up with a mid 20s check instead of the full amount, it is all in what you want.
    for those of you looking to start school soon, i would suggest you get pre-approved WHILE YOU HAVE A JOB. if you wait until you are unemployed during school, then they require a co-signer. it is very humbling to go to your parents as a 27 y/o grown man and ask them to co-sign a loan.

    oh yeah, wear nice clothes when you deposit the check at the bank. most likely you'll meet everyone, including the president of the bank. i stopped by with a $2 tshirt on and it was kind of funny.
    yeah...i deposited mine through the drive thru...and ended up with a 4 day hold on the check! thank goodness i had at least showered before heading to the bank! :chuckle

    getting deeper into debt in ohio....:uhoh21:
    krinklesRN

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