Student Loans - Calgarypuck Forums - The Unofficial Calgary Flames Fan Community

Jayems · 07-31-2006, 07:23 PM

Hey, hope someone can help me with this.

I applied for student loans in about mid may. I applied 1 week after my brother, and he got his 1 week after i applied.

Its now August, and I haven't heard. I checked my status on the ALSC website or whatever it was, and it just says pending.

Had to pay my fees this week on VISA and am now paying that off every 2 weeks with 90% of my pay cheque.

Anyone know how long it takes? (Would the fact my bro's going to med school expedite his loans? Cause the banks are all over his loans for everything else)

Any help would be great,

Cheers.

James.

Antithesis · 07-31-2006, 08:08 PM

Are you two both under 21? Over? One is and one isn't?

Jayems · 07-31-2006, 08:12 PM

Quote:

Originally Posted by Antithesis

Are you two both under 21? Over? One is and one isn't?

He's 25 I'm 24

Antithesis · 07-31-2006, 08:14 PM

Well, then I'm out of ideas ... I know getting loans is different for those under 21 than over ...

Going to the same school?

Jayems · 07-31-2006, 08:14 PM

No, hes UofA, im MRC

Antithesis · 07-31-2006, 08:17 PM

Maybe there's some kind of hold up at the schools themselves?

RougeUnderoos · 07-31-2006, 08:18 PM

Student loan flunkies are the biggest bunch of bunglers you'll ever come across and the way they do business is random.

One semester your loan will take 2 weeks and goes straight into your account, another semester it'll take 2 months and the check from a real bank will have to be cleared by your bank for 4 days.

The student loan system is hopeless. Or at least it was when I was getting my bi-annual liquor loans.

Jayems · 07-31-2006, 08:37 PM

Quote:

Originally Posted by RougeUnderoos

Student loan flunkies are the biggest bunch of bunglers you'll ever come across and the way they do business is random.

One semester your loan will take 2 weeks and goes straight into your account, another semester it'll take 2 months and the check from a real bank will have to be cleared by your bank for 4 days.

The student loan system is hopeless. Or at least it was when I was getting my bi-annual liquor loans.

kipperfan · 07-31-2006, 10:09 PM

Quote:

Originally Posted by Jayems

Hey, hope someone can help me with this.

I applied for student loans in about mid may. I applied 1 week after my brother, and he got his 1 week after i applied.

Its now August, and I haven't heard. I checked my status on the ALSC website or whatever it was, and it just says pending.

Had to pay my fees this week on VISA and am now paying that off every 2 weeks with 90% of my pay cheque.

Anyone know how long it takes? (Would the fact my bro's going to med school expedite his loans? Cause the banks are all over his loans for everything else)

Any help would be great,

Cheers.

James.

Thats very odd.

I applied for loans in the last week of June(going to school in Ontario, but live in Calgary currently so still applied to ALSC) and recieved an anwser within 2 weeks and have now recieved the confirmation and signed the agreement. If I was you I would re-apply, just fill out another identical application online, it probably got lost in their "shuffle" and will be pending forever.

tvp2003 · 07-31-2006, 10:19 PM

Call them, try to speak to a human, and get to the bottom of this. I usually had the paperwork in 3-4 weeks while I was at school in BC.

The tuition on your visa will mean wicked interest... you should go to Royal Bank (I think they're the best when it comes to student lines of credit) and open an account. Take whatever money you can get from the LoC and use it to pay your tuition until you can get the matter sorted out (the interest rate is waaay lower!).

Jayems · 07-31-2006, 10:51 PM

Now i'm starting to get worried

Wookie · 07-31-2006, 10:59 PM

If anyone has any needs for a student loan feel free to PM me.

I can pretty much guarantee if you're a full time student at UofC SAIT or Mt Royal I can help you get a student loan of a min. $2,500 twice during a four year program variable rate prime+2.95% interest only. Maturity in october, pending your student status (renewed every year).

RougeUnderoos · 07-31-2006, 11:17 PM

Quote:

Originally Posted by Jayems

Now i'm starting to get worried

If you are putting 90% of your paycheck towards your tuition it can't be all bad. Your summer spending habits must be hurting right now but if you pay off (out of necessity) a big chunk of your tuition before you even get the loan then you should be able to save money in the long run. This summer's sacrifice could mean that your winter semester loan can be a lot smaller.

I went for the max loan every year (8 grand at the time) when I was in school and while I don't regret it (it was a lot of fun), I am not fond of the monthly payments I have to make.

Tomorrow is the first of the month and that means loan-payment day for me. I'll be writing a check to cover a pair of sunglasses I bought and a bender I went on in 1998.

@theCBE · 08-01-2006, 12:15 AM

I filled out a paper application (because I'm going overseas) at the beginning of July and I got a reply within two weeks. I'm guessing there might be something on you application you forgot to fill out, if its not all complete it gests stuck in administrative Hell forever. Like others have said get on the phone and talk to someone find out what the hold up is.

flamingchina · 08-01-2006, 01:14 AM

Quote:

Originally Posted by RougeUnderoos

The student loan system is hopeless. Or at least it was when I was getting my bi-annual liquor loans.

That reminds me, I should send mine in again....
mmm booze

Bobblehead · 08-01-2006, 09:25 AM

When I made the final lump sum payment to clear out my loan, it got credited to the wrong person. Of course, I was portrayed as the scum of the earth for not paying them until I faxed the documentation. Then it was a terse, "We'll take care of it." and I never heard from them again.

rawr · 08-01-2006, 10:09 AM

Like a poster above said try calling them to talk in person. For future reference, fill out an online application. It gets processed much quicker (=

Jayems · 08-01-2006, 08:27 PM

Quote:

Originally Posted by RougeUnderoos

If you are putting 90% of your paycheck towards your tuition it can't be all bad. Your summer spending habits must be hurting right now but if you pay off (out of necessity) a big chunk of your tuition before you even get the loan then you should be able to save money in the long run. This summer's sacrifice could mean that your winter semester loan can be a lot smaller.

I went for the max loan every year (8 grand at the time) when I was in school and while I don't regret it (it was a lot of fun), I am not fond of the monthly payments I have to make.

Tomorrow is the first of the month and that means loan-payment day for me. I'll be writing a check to cover a pair of sunglasses I bought and a bender I went on in 1998.

No,its not all bad.

2.5 paycheques will do, but that still means slowing down on summer spending. Problem is, i wanted to pay with student loans and have saved money to live off. I guess 1 semester paid and live off loans is probably the same but still...

Damn visa bill is crazy