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Title: Asking for creative financial aid for medical school, having been turned down after 1 year, where to find it? Post by: Monkey_butt94 on Apr 23, 2012 I am a citizen of the USA and have completed 1 year of medical school in a Caribbean school. After I left for an illness, I was unable to return due to being turned down for financial aid for the first time in my life. Since then I have had to file bankrupcy since its been over a year. I still want to complete med school and am looking and asking every where. I feel I can make a great contribution as a doctor and am hopeing someone will point me in the right direction so i can find the financing. Unfortunately many in med school right now are facing the same fate as financing is being pulled out of the carribean. Can someone help?
Title: Asking for creative financial aid for medical school, having been turned down after 1 year, where to find it? Post by: Send9090 on Apr 23, 2012 You're suffering the effects of a US Senate investigation report from 2004 that indicated a high default rate on student loans for offshore medical schools. This report caused several lenders to abruptly cease student loans for people attending most of the Caribbean medical schools.
The history behind all of this was the low admission requirements of the Caribbean schools, the poor quality of the education offered at many of the schools and the inability of students to pass the Step 1 exam of the USMLE. This left these students with a large debt and no means of paying it off, so many chose to walk away from their debts. You aren't going to find any lender stepping up to that risk. The forums on ValueMD are replete with these discussions and hundreds of students have been knocking on financial institutions' doors without success. The only way around this dilemma is to be accepted at one of the top tier Caribbean schools that are approved by the US Department of Education for federal loans. |