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Student Loans for Caribbean Medical Schools
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There is now a true student
loan available to foreign-enrolled students at many medical schools
in the Caribbean and elsewhere
For US students that enroll directly in a foreign school for their
undergraduate or graduate education, funding options are more limited
than students in the US. That's why the Foreign Enrolled Loan was
developed. It's a private alternative loan that can cover the entire
cost of your education abroad.
Foreign Enrolled Loans offer:
- High funding limits up to $70,000 per year for dental, law or
medical school.
- For medical school the overall limit is $225,000, which is enough
to actually finance a medical school education.
- Fast online application and approvals (Go to the Online student
loan application).
- Three repayment options are available. Importantly, you have
the option of full deferral while in school at least half-time.
- Medical residency, military service, and certain other situations
qualify for repayment deferral.
- No application fee and no out-of-pocket costs.
- 6-month grace period.
- Hundreds of approved foreign schools (see below for the current
list of approved foreign medical schools).
Elligible Schools
The following schools are elligible at the time of this writing:
- Ross University School of Medicine (see Ross
Medical School Loans)
- UNIBE
- St. George's (see St.
George Medical School Loans)
- American University of the Caribbean School of Medicine
- Charles University in the Czech Republic
- Lublin, Wroclaw and Jagiellonian Universities of Medicine in
Poland
- Sackler School of Medecine, Tel Aviv
While we're working with our partners to expand the list of elligible
medical schools, the credit crunch with US banks has made it unlikely
that new schools will be added any time soon.
Getting a loan
It's a good idea to start shopping for a loan early in
the process. 2-3 months before matriculation is not too early.
It is possible to qualify for these loans on your, but more often
the successful applicant will come in with a co-signer.
References
- Medical
School Loans.
- School
loan consolidation - Information on eligibility and rationale
for consolidating (or not consolidating) your student loans.
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