tag:blogger.com,1999:blog-4733275816481882855.post1661962126423830074..comments2023-10-28T09:31:38.684-04:00Comments on Lives of Doctor Wives: Financial Aid Part 2Melisahttp://www.blogger.com/profile/06853815094926344439noreply@blogger.comBlogger18125tag:blogger.com,1999:blog-4733275816481882855.post-36624013058059289012010-05-18T22:07:50.433-04:002010-05-18T22:07:50.433-04:00Thanks so much for your post! My husband is MS4 s...Thanks so much for your post! My husband is MS4 so we haven't gotten into the loans during residency mess, but it sounds like it will be fun. However, I have some loans from my [very expensive] undergrad schooling that have been in economic hardship deferment. If you qualify for any type of public assistance, like Food Stamps or Medicaid, then you automatically qualify for economic hardship deferment. You just have to provide proof of benefits on the deferment application. The down side to economic hardship deferment is that you're only allowed to use it for 3 years (unless that has recently changed with the new legislation- any one know?)Amandahttps://www.blogger.com/profile/11855440727938477173noreply@blogger.comtag:blogger.com,1999:blog-4733275816481882855.post-11322893762814956082010-05-14T01:24:15.756-04:002010-05-14T01:24:15.756-04:00Thank you so much for these posts. They were so gr...Thank you so much for these posts. They were so great - I would have loved to have them during med school. You're sweet to post it all.Lizhttps://www.blogger.com/profile/02824477197382240833noreply@blogger.comtag:blogger.com,1999:blog-4733275816481882855.post-20875904068592203452010-05-02T22:26:16.153-04:002010-05-02T22:26:16.153-04:00@Chelsey . . . I'm glad you found it helpful! ...@Chelsey . . . I'm glad you found it helpful! If you have any questions about what I wrote, please feel free to email me! I'm always happy to answer questions!! And, the loan we received was actually called a Physician's Loan. It is only available to doctor's and they are more open. However, I have also heard of some people getting denied this year but it had to do with a current home ownership. Either way, I wish you the best of luck!! :)Tif Sweeneyhttps://www.blogger.com/profile/06015299390676538748noreply@blogger.comtag:blogger.com,1999:blog-4733275816481882855.post-11447208778390160762010-05-02T16:29:07.405-04:002010-05-02T16:29:07.405-04:00Timani, I thought you could defer loans through re...Timani, I thought you could defer loans through residency anymore? Everything I've read says that getting loans deferred is not possible! Can you provide more details? <br /><br />Or, Adriana, can you provide more info about a defferal option?Ehttps://www.blogger.com/profile/11284586692540531840noreply@blogger.comtag:blogger.com,1999:blog-4733275816481882855.post-53402249388689192562010-05-01T12:06:02.579-04:002010-05-01T12:06:02.579-04:00Thanks Tif,
I read your blog entry on the topic.....Thanks Tif,<br /><br />I read your blog entry on the topic.. its was very helpful! Thank you! I also read your entry on purchasing a house using a 'doctor loan' {don't know if thats what its really called :) } which was very helpful as well. The only thing that makes me nervous right now is that more and more people {we know} are getting denied loans.. banks are saying its because of the economy. We havent applied for anything yet... but we will have to soon.<br /><br />- chelseyChelseyhttps://www.blogger.com/profile/10170950788880735011noreply@blogger.comtag:blogger.com,1999:blog-4733275816481882855.post-87903117739232655452010-04-30T18:59:55.540-04:002010-04-30T18:59:55.540-04:00Chelsey,
We did take out some residency relocati...Chelsey, <br /><br />We did take out some residency relocation loans and I wrote a long thing about them on my blog. If you are interested, I would be happy to share the link with you. It can be a controversial topic, but every family needs to make the choice that is best for them. In our case, it was the best choice!! :)Tif Sweeneyhttps://www.blogger.com/profile/06015299390676538748noreply@blogger.comtag:blogger.com,1999:blog-4733275816481882855.post-48732805978865772192010-04-30T18:39:24.204-04:002010-04-30T18:39:24.204-04:00Hi,
I am new to this blog :) and I am so thankful...Hi,<br /><br />I am new to this blog :) and I am so thankful I found it!! My husband is currently a MSIII (almost MSIV) and we are currently considering taking out a personal loan for 4th year to do interviews.. has anyone else had to do this? If not - how did you get by just on student loans for interview traveling and away rotations?<br /><br />Thanks!<br />ChelseyChelseyhttps://www.blogger.com/profile/10170950788880735011noreply@blogger.comtag:blogger.com,1999:blog-4733275816481882855.post-68066400212301999352010-04-29T11:18:28.068-04:002010-04-29T11:18:28.068-04:00These are some great posts and I love that you are...These are some great posts and I love that you are doing it in little snippets! It makes it easier to digest it all!! Thank you so much!!Tif Sweeneyhttps://www.blogger.com/profile/06015299390676538748noreply@blogger.comtag:blogger.com,1999:blog-4733275816481882855.post-23131978875807046912010-04-29T04:21:30.641-04:002010-04-29T04:21:30.641-04:00Hmmmm. My husband started residency this year and...Hmmmm. My husband started residency this year and we were able to get all loans, even private loans deferred because he was in residency! Residency is really "Graduate Medical Education" and should qualify if you are in a (whatever type of nationally recognized acronymed)program. He called each lender and most of them wanted a letter from his residency director stating his start and end dates. His director faxed it to them. It was really easy. Look into it!Timanihttps://www.blogger.com/profile/03121375352909558723noreply@blogger.comtag:blogger.com,1999:blog-4733275816481882855.post-48292350159772181242010-04-26T14:45:33.099-04:002010-04-26T14:45:33.099-04:00My only caution with this is that most student loa...My only caution with this is that most student loans forgive the loan if something happens to the borrower..even disabilty. Make sure that any new loan you replace it with has some sort of protection to cover that or up your life insurance to protect yourself for this as well.Adrianahttps://www.blogger.com/profile/15753445380021519749noreply@blogger.comtag:blogger.com,1999:blog-4733275816481882855.post-22807018206948429422010-04-26T14:40:49.429-04:002010-04-26T14:40:49.429-04:00TheFamousStacie, you hit the nail on the head! Ban...TheFamousStacie, you hit the nail on the head! Banks will want you as their client later. If your current loan structure isn't working for you, you may consider visiting a local bank and asking them what they can do for you. Play the "doctor" card and mention you like the idea of keeping all of your banking/financing with one institution. I've been surprised how many local banks will creatively refinance a loan to make your life easier in return for banking loyalty. I'm sure there are tighter restrictions now, but it's not like they were doing anything questionable...ClosewithKathihttps://www.blogger.com/profile/16015231232157212547noreply@blogger.comtag:blogger.com,1999:blog-4733275816481882855.post-42108627125365403322010-04-26T11:41:23.164-04:002010-04-26T11:41:23.164-04:00grumble, grumble.... that just makes me so aggrava...grumble, grumble.... that just makes me so aggravated!!! <br /><br />Blood from a turnip. Just wait until they are out of training and are making a livable salary!<br /><br />Why not be easy to deal with now, so we will want to work with them later?<br /><br />We, too, have learned who not to work with again.TheFamousStaciehttps://www.blogger.com/profile/07755461640864154378noreply@blogger.comtag:blogger.com,1999:blog-4733275816481882855.post-14119567933061777972010-04-26T11:11:04.247-04:002010-04-26T11:11:04.247-04:00They are letting us do interest only payments, but...They are letting us do interest only payments, but I still don't like them. They've been tough to work with the last 3 years.Melisahttps://www.blogger.com/profile/06853815094926344439noreply@blogger.comtag:blogger.com,1999:blog-4733275816481882855.post-66623990561095071032010-04-26T11:09:04.369-04:002010-04-26T11:09:04.369-04:00Unfortunately the private loan industry is not as ...Unfortunately the private loan industry is not as heavily regulated as stafford loans. Therefore each lender sets the terms for their loan repayment policies. We got stuck in a similar situation where we found out too late that they only allow you to defer payments on one of our loans for three years. They failed to mention this to us until we sent in our application this year for our fourth year. My suggestion is to keep calling and hounding them. They would rather work out payment arrangments then have you default on the loan and sometimes getting the right person on the phone is what you need.Adrianahttps://www.blogger.com/profile/15753445380021519749noreply@blogger.comtag:blogger.com,1999:blog-4733275816481882855.post-1923413721384225502010-04-26T11:00:53.208-04:002010-04-26T11:00:53.208-04:00I think it was private. Wachovia. They've be...I think it was private. Wachovia. They've been a nightmare to work with. That is the first loan I'm paying off. Can't wait to be done with them!Melisahttps://www.blogger.com/profile/06853815094926344439noreply@blogger.comtag:blogger.com,1999:blog-4733275816481882855.post-29398437668857309342010-04-26T10:58:23.487-04:002010-04-26T10:58:23.487-04:00Melisa- is the loan a stafford loan or private loa...Melisa- is the loan a stafford loan or private loan?Adrianahttps://www.blogger.com/profile/15753445380021519749noreply@blogger.comtag:blogger.com,1999:blog-4733275816481882855.post-91543373120243292112010-04-26T10:03:44.910-04:002010-04-26T10:03:44.910-04:00Great stuff, Adriana!
Just wondering, we had a lo...Great stuff, Adriana!<br /><br />Just wondering, we had a loan that was in forebearance and my DrH forgot to send in the yearly form. Because of that, they made us make a payment before we could put it back in forebearance. Now that the year is up, they won't let us put it in forebearance anymore because we made a payment on it. Is that pretty typical?Melisahttps://www.blogger.com/profile/06853815094926344439noreply@blogger.comtag:blogger.com,1999:blog-4733275816481882855.post-80797056823089828012010-04-25T13:44:11.431-04:002010-04-25T13:44:11.431-04:00I'm curious if Dr.H can still qualify for forb...I'm curious if Dr.H can still qualify for forbearance in fellowship?<br /><br />Or are they going to cart us off to debtors' prison??? ....TheFamousStaciehttps://www.blogger.com/profile/07755461640864154378noreply@blogger.com