- Joined
- Mar 7, 2003
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First, I apologize for not responding sooner to everyone's queries.
Let me tell you a little about UCSF, then I will address the questions related to private loans for foreign dental graduates. The school has increased their quota in the IDP to 24 per year from 16.
For those interested in getting into a reputable school, I would recommend UCSF. The admission staff are very accomodating even if you dont get your loan on time, they will let you register for classes. This past year for 2003 admission into the IDP, out of appx. 140 applicants, 22 got in. Many people tend to ignore UCSF because of their deadlines probably being later in the year.
UCSF costs appx. $90,000 for the first year inlcuding living expenses, tuition, kit (almost 1000 pieces of every imaginable dental instrument minus the chair),text books.
Second year is around $65,000 since you pay for the kit only in the first year.
I only applied to 2 institutions, namely Bank One and Citibank. Citibank has different requirements then Bank One.
Bank One is easier to deal with. They approve about 80% of all loan applications. Interest rates are quite low in general as of today.
Loans are available for foreign students from BankOne / SallieMae. Choose signature student loans.
http://www.studentloannet.com/loans/sig.htm
For me this was the easiest bank to deal with. They approved it in 2 days for $90,000. Most banks approve only 1 year at a time. The school has to certify the loan amount you ask for. Basically, the school has an estimate of how much it costs to live and go to school per year. You cannot get a loan for more than the school will certify.
Cosigners are required if the student or applicant is not a citizen or green card holder.
Credit scores of the cosigner are important. The interest rates depend on a person's credit scores. This is different from credit history. While the bank
does not publish it explicitly, they consider an excellent credit score as around 700 plus regardless of the credit bureau.
This will give you the best interest rate. They will offer higher interest rates for those with Fair (appx. 650 ) or Good credit scores (appx. 680)
You cannot apply online or at a branch with Bank One currently if you are a foreign student. You have to call them and they will mail you the application or you can download it at
http://www.studentloannet.com/inclu...nature/bankone/
Go to the end of the web page and choose the Signature Loan Application and download it as well as the addendum.
The quickest way to send all the information is if you have all the documents sent with the loan application.
Once you have completed the loan application and have all the necessary documents, call the bank, the phone number should be at the web site and ask for the Overnight delivery option. They will give you the address. Currently that address is in Lynn Haven, Florida. This is where you will send all the documents.
Documents you will need inlude the completed loan application. Front and back copy of green card of your cosigner; social security number of your cosigner; last couple of pay stubs of your cosigner (preferably less than 30 days old), copy of your current I-94. The I-94 is a document that shows how long you can legally stay in the US. It is not the same as a visa. A visa lets you enter the US. Even if your I-94 expires expires in 6 months it is ok as long as it is valid at the time you apply for the loan. The loan application provides details of all the documents needed.
Send all this to the Florida address as mentioned above and wait.
Call them to make sure they receive it, it takes a day or two to receive into their system. Try to send it on a Monday or Tuesday, so under normal circumstances they may have have a decision before the week is over.
One concern co-signers have is the amount they cosign for and how it will impact them. It turns out it does not impact them negatively because these private student loans are deferred loans, meaning you dont start paying them until 6 months after you graduate i.e. appx. 2.5 years or more from the time you start school. This is good because if the cosigner decides he wants to buy a car or a house within the next 2.5 years, he or she can do so. The student loan will show up on their credit history but it will be a deferred loan, meaning they are not paying for it yet.
Loans are also available for foreign students at
Citibank at
http://studentloan.citibank.com/slcsite/fr_hca2.htm
You need to choose CitiAssist Medical / Dental loans. Details are at the web site.
Some of the requirements:
Cosigners are required if the student is not a green card holder or citizen .
Minimum income: $18,000 per year.
There are other sources for private loans. The above 2 are just the ones I have taken.
I will end this string for now since this is a lot of information to absorb. If you have any more questions I will be more than happy to answer them.
Regards and best of luck !
Let me tell you a little about UCSF, then I will address the questions related to private loans for foreign dental graduates. The school has increased their quota in the IDP to 24 per year from 16.
For those interested in getting into a reputable school, I would recommend UCSF. The admission staff are very accomodating even if you dont get your loan on time, they will let you register for classes. This past year for 2003 admission into the IDP, out of appx. 140 applicants, 22 got in. Many people tend to ignore UCSF because of their deadlines probably being later in the year.
UCSF costs appx. $90,000 for the first year inlcuding living expenses, tuition, kit (almost 1000 pieces of every imaginable dental instrument minus the chair),text books.
Second year is around $65,000 since you pay for the kit only in the first year.
I only applied to 2 institutions, namely Bank One and Citibank. Citibank has different requirements then Bank One.
Bank One is easier to deal with. They approve about 80% of all loan applications. Interest rates are quite low in general as of today.
Loans are available for foreign students from BankOne / SallieMae. Choose signature student loans.
http://www.studentloannet.com/loans/sig.htm
For me this was the easiest bank to deal with. They approved it in 2 days for $90,000. Most banks approve only 1 year at a time. The school has to certify the loan amount you ask for. Basically, the school has an estimate of how much it costs to live and go to school per year. You cannot get a loan for more than the school will certify.
Cosigners are required if the student or applicant is not a citizen or green card holder.
Credit scores of the cosigner are important. The interest rates depend on a person's credit scores. This is different from credit history. While the bank
does not publish it explicitly, they consider an excellent credit score as around 700 plus regardless of the credit bureau.
This will give you the best interest rate. They will offer higher interest rates for those with Fair (appx. 650 ) or Good credit scores (appx. 680)
You cannot apply online or at a branch with Bank One currently if you are a foreign student. You have to call them and they will mail you the application or you can download it at
http://www.studentloannet.com/inclu...nature/bankone/
Go to the end of the web page and choose the Signature Loan Application and download it as well as the addendum.
The quickest way to send all the information is if you have all the documents sent with the loan application.
Once you have completed the loan application and have all the necessary documents, call the bank, the phone number should be at the web site and ask for the Overnight delivery option. They will give you the address. Currently that address is in Lynn Haven, Florida. This is where you will send all the documents.
Documents you will need inlude the completed loan application. Front and back copy of green card of your cosigner; social security number of your cosigner; last couple of pay stubs of your cosigner (preferably less than 30 days old), copy of your current I-94. The I-94 is a document that shows how long you can legally stay in the US. It is not the same as a visa. A visa lets you enter the US. Even if your I-94 expires expires in 6 months it is ok as long as it is valid at the time you apply for the loan. The loan application provides details of all the documents needed.
Send all this to the Florida address as mentioned above and wait.
Call them to make sure they receive it, it takes a day or two to receive into their system. Try to send it on a Monday or Tuesday, so under normal circumstances they may have have a decision before the week is over.
One concern co-signers have is the amount they cosign for and how it will impact them. It turns out it does not impact them negatively because these private student loans are deferred loans, meaning you dont start paying them until 6 months after you graduate i.e. appx. 2.5 years or more from the time you start school. This is good because if the cosigner decides he wants to buy a car or a house within the next 2.5 years, he or she can do so. The student loan will show up on their credit history but it will be a deferred loan, meaning they are not paying for it yet.
Loans are also available for foreign students at
Citibank at
http://studentloan.citibank.com/slcsite/fr_hca2.htm
You need to choose CitiAssist Medical / Dental loans. Details are at the web site.
Some of the requirements:
Cosigners are required if the student is not a green card holder or citizen .
Minimum income: $18,000 per year.
There are other sources for private loans. The above 2 are just the ones I have taken.
I will end this string for now since this is a lot of information to absorb. If you have any more questions I will be more than happy to answer them.
Regards and best of luck !
WAOOOOOOO MAN where have you been all this time .Thanks alot,i'll check if i can make a use of the links you inserted .
