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Educational/financial advice for a new immigrant

C

cologne

New Member
Please i am new here.I dont know if this is the right place to post this but like i have seen this is a forum that helps people to immigrate to the US and settle.So please guys who know much about financial aid in the usa,i want you to help me out on this.


I am a new immigrant to the States with a permanent residence status.I immediately want to pursue a career in the medical field and finance is a hitch for me now.I spoke recently with one of the schools around and i was told that the tuition for medical assistant program for 9months is $12000 plus but that i only have to pay $25 to begin.And that after 6months of my graduation that is when i will start paying back say like $60 monthly till the next 10years.In other words, i have a 10year payment plan of $60 monthly.I was also made to understand that a financial aid will be sought for me to cover half of the tuition and that immediately after my graduation and certification,they will look for a job for me.
So guys i dont know if any one has undergone this before and if it really augured well with them.Please i am new in the States and i really have to know the disadvanges and consequences of accepting this offer.Thanks!
 
you got strange kind of deal which to be honest does not make any sense ..what kind of school is that ... be careful here n the USA about 90% of schools and uni. are just a scam ....so they would take your money and provide you with totally inadequate education which is not gonna get you any kind of job ANYWHERE .its that knd of the country they have here ....you better open your own school and charge people for something rather then going to someones else ...I used to meet people everyday with all kinds of degrees and certifications from gods knows and god knows what kind of schools but they could not find any kind of job because their education was just some mesh up of everything and mostly nothing yet they got saddled with debt to the tune of 15-30 000 dollars and some of them just left US because they could not long get any kind of student loans or credts and they got stuck with debt........THIS IS NOT EUROPE ..EDUACTIONS STANDARDS ARE VERY POOR HERE AND UNREGULATED AND WORST OF ALL DUE TO THE FACT THAT THIS COUNTRY EXISTS ONLY FOR REALLY SHORT PERIOD OF TIME THERE IS NOT TRADITION IN ANYTHING LET ALONE N EDUCATION .....THATS WHY HERE THEY BUY EDUCATED PEOPLE FROM ABROAD ..ITS EASIER AND THEY ARE SURE THEY WOULD GET QUALITY ...ONLY FEW SO CALLED ''IVY LEAGUE'' SCHOOLS AND HANDFULL OF UNIS IN THE US ARE ON THE SAME LEVEL WITH EUROPEAN SCHOOLS .......EVERYTHING ELSE IS JUST TRASH
 
cologne said:
Please i am new here.I dont know if this is the right place to post this but like i have seen this is a forum that helps people to immigrate to the US and settle.So please guys who know much about financial aid in the usa,i want you to help me out on this.


I am a new immigrant to the States with a permanent residence status.I immediately want to pursue a career in the medical field and finance is a hitch for me now.I spoke recently with one of the schools around and i was told that the tuition for medical assistant program for 9months is $12000 plus but that i only have to pay $25 to begin.And that after 6months of my graduation that is when i will start paying back say like $60 monthly till the next 10years.In other words, i have a 10year payment plan of $60 monthly.I was also made to understand that a financial aid will be sought for me to cover half of the tuition and that immediately after my graduation and certification,they will look for a job for me.
So guys i dont know if any one has undergone this before and if it really augured well with them.Please i am new in the States and i really have to know the disadvanges and consequences of accepting this offer.Thanks!
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Check the schools credentials and how long the school is existing. In the US if you sign for financial aid you know you have to pay it back. Years ago the bankruptcy law was changed so students no longer could file for bankruptcy to get rid of their student loan...it will stay there until it is paid off so you better be sure it is a reasonable one that you can pay later on.

When a school is stating "they will look for a job" when you graduate....that is exactly what it means..."looking" and they might succeed or perhaps not...it is not a guarantee. Recently a US student sued the school and lost the law suit...just so you know. (school promissed to look, not guaranteed a job)
 
Thanks guys for the advice.I have to look into it really before signing any deal.
But assuming i find them credible and go in for the offer will i still be eligible to get another financial aid either from the government or else where to assist me in going in for my masters degree next year?In otherwords, would accepting this present one be an obstacle to getting another one for my masters next year?I already have a major degree but just want to go in for the medical asst. program training to get an immediate employment to take care of certain needs and onwards remain in the job market till i complete my masters and get a better paying job.
 
cologne said:
Thanks guys for the advice.I have to look into it really before signing any deal.
But assuming i find them credible and go in for the offer will i still be eligible to get another financial aid either from the government or else where to assist me in going in for my masters degree next year?In otherwords, would accepting this present one be an obstacle to getting another one for my masters next year?I already have a major degree but just want to go in for the medical asst. program training to get an immediate employment to take care of certain needs and onwards remain in the job market till i complete my masters and get a better paying job.
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Nobody will be able to tell you, because what the law is today and be changed tomorrow...When the health care waste bill was signed, it also changed all the student loans and the government is now in charge of them...

But if you don't have much debt, you probable will be able to get more loans...try to get a credit card and start paying small items with it and pay your credit card off on time so you will build up a credit history...that will help in the long run.
 
bentlebee said:
Nobody will be able to tell you, because what the law is today and be changed tomorrow...When the health care waste bill was signed, it also changed all the student loans and the government is now in charge of them...

But if you don't have much debt, you probable will be able to get more loans...try to get a credit card and start paying small items with it and pay your credit card off on time so you will build up a credit history...that will help in the long run.
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When i met with them,they requested for my social's id which i did give them and my alien's card number.I hope this does not mean i have signed the contract with them? Because i remember not appending my signature anywhere.I told them to give me sometime to think about it.But my worry now is that they have my alien card and social security card number.
 
in this country, everything revolves around your credit score or called your FICO score. when you are new in the country you will have no score or no credit. you need to build your credit and the only way to start is to get a credit card as mentioned by bentlebee. you will however need some capital, at least around a few thousand dollars, to apply for a secure credit card. your credit limit will be pegged to your security, ie, that few thousand dollars that you have deposited into the bank's checking/savings account. and every month you MUST pay off your bill in full, otherwise you will not be able to build your credit score fast enough. you will want to build your score to a level which any financial instituition will grant you loans with no problems. a good score is above 700. but today most instituitions will want 750 and above. so the higher the score the better. every one checks your credit - landlords, car dealers, employers, banks, etc.
 
leongsce said:
in this country, everything revolves around your credit score or called your FICO score. when you are new in the country you will have no score or no credit. you need to build your credit and the only way to start is to get a credit card as mentioned by bentlebee. you will however need some capital, at least around a few thousand dollars, to apply for a secure credit card. your credit limit will be pegged to your security, ie, that few thousand dollars that you have deposited into the bank's checking/savings account. and every month you MUST pay off your bill in full, otherwise you will not be able to build your credit score fast enough. you will want to build your score to a level which any financial instituition will grant you loans with no problems. a good score is above 700. but today most instituitions will want 750 and above. so the higher the score the better. every one checks your credit - landlords, car dealers, employers, banks, etc.
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I agree with most what you wrote, but you don't need thousands. Even if you put $ 500.- towards a secured creditcard you can start building a credit score. Your limit will then be $ 500.- and it will take a little longer to build credit then if you buy more and have a higher credit to use.

If you need to buy flight tickets, use the credit card, but even for bread, sugar or whatever, even a hamburger at McDonalds....buy it by paying with your credit card and pay it off right away, that will start your credit score and we only learned after we were here 2 years...we start out with $ 1000 secured and in order to buy tickets we needed a higher amount so we added towards the secured limit (which will be held by the bank in a savings account that you can't access your self, but you get interest...almost nothing:D)...After 2 years we all of a sudden got the money from our savings lifted so we could access it and received a letter from the bank stating that our credit card was now un secured due to our excellent use and our limit was raised....but never ever forget to pay at least the minimum, but better pay in full to get a higher score.

The other thing is that hardly any American can tell you what will influence your credit score precisely...everybody is guessing and thinks they know exactly:D
 
leongsce said:
in this country, everything revolves around your credit score or called your FICO score. when you are new in the country you will have no score or no credit. you need to build your credit and the only way to start is to get a credit card as mentioned by bentlebee. you will however need some capital, at least around a few thousand dollars, to apply for a secure credit card. your credit limit will be pegged to your security, ie, that few thousand dollars that you have deposited into the bank's checking/savings account. and every month you MUST pay off your bill in full, otherwise you will not be able to build your credit score fast enough. you will want to build your score to a level which any financial instituition will grant you loans with no problems. a good score is above 700. but today most instituitions will want 750 and above. so the higher the score the better. every one checks your credit - landlords, car dealers, employers, banks, etc.
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How long will it take for one to build up a good score 700-750?How does it work?If i pick up a credit card next month, how long will it take me to build score 750?
 
gasper2000 said:
How long will it take for one to build up a good score 700-750?How does it work?If i pick up a credit card next month, how long will it take me to build score 750?
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I have no clue, but if you pay the little items and pay the card off a.s.a.p it will help you to get a higher score fast. I never checked my score until some one advised me to take out an ARM mortgage and without our consent our score was checked and the mortgage broker came back in the room and told us our score...we were so stunned that he hadn't asked for permission to do so, that we didn't say anything about his rudeness...but at least we learned our very high score. Of course we weren't so stupid to get an ARM which is one of the causes for all the mortgage trouble in the USA.

Some companies check your score which can cause your score to go lower and other checks are called soft checks and don't hurt your score, so be carefull to have any one check your score, unless it is really neccessary. Unfortuantely over here you have to give your SSN for almost everything which makes ID theft very easy, so be careful.
 
gasper2000 said:
how long will it take for one to build up a good score 700-750?how does it work?if i pick up a credit card next month, how long will it take me to build score 750?
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why do you need it ??? It would take couple of years but i did already explain many times that credit ratings are next to useless because you can't get anything out of it .... Banks won't give you any money for anything .....you might have some benefits if you buy a car or some other consumer goods but its a bust to buy on credit in the usa -you gonna over pay everything you buy like that -its no brainer -if you pay in in "cash" its always cheaper but on credit its just for fools and poor people,banks won't give you credit card for sure if you are new immigrant ;;;probably in about 2 years time you will get offer for credit cards but it will be some crazy deal with interest going through the roof like you won't belive it ...funny thing is new immigrants usualy jump on that like crazy and lose money through those fees and god knows what ........my advice is to take it easy buster.... They will take your all money here soon you do not need to hurry to waste it ....chill
 
bmx88 said:
why do you need it ??? It would take couple of years but i did already explain many times that credit ratings are next to useless because you can't get anything out of it .... Banks won't give you any money for anything .....you might have some benefits if you buy a car or some other consumer goods but its a bust to buy on credit in the usa -you gonna over pay everything you buy like that -its no brainer -if you pay in in "cash" its always cheaper but on credit its just for fools and poor people,banks won't give you credit card for sure if you are new immigrant ;;;probably in about 2 years time you will get offer for credit cards but it will be some crazy deal with interest going through the roof like you won't belive it ...funny thing is new immigrants usualy jump on that like crazy and lose money through those fees and god knows what ........my advice is to take it easy buster.... They will take your all money here soon you do not need to hurry to waste it ....chill
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Even for a person like me who has no leased cars and no mortgage ( paid cash)...having a good credit score makes a difference. If you need car ins. they premium can be lower with a good credit score. Also if you apply for certain things, it can help you.

Of course having a good score is helping more if you need a mortgage, etc...but even without it is something that is important in the US..If you don't like the system then don't use it, but most people have to deal with it, like it or not.
 
I COULD NOT DISAGREE MORE WITH THIS - YOU HAVE ABOUT 80 + MILLION PEOPLE IN THE US WHO ARE OUTSIDE OF THAT SYSTEM ALL TOGETHER -that is almost a so called ''CRITICAL MASS'' which is reaching 1/3 of total US population ;credit score ratings etc are affecting lives of people here in the US for far too long and this is the ONLY COUNTRY YOU HAVE SUCH SYSTEM IN PLACE -now system as a system runs on MONEY .... like everything else right .....NOW THESE DAYS DAYS THE MONEY IS GONE -THERE IS NO MONEY so system is eroded beyond repair - WHEREVER YOU GO YOU HEAR THAT TIME OF THE CHEAP CREDITS AND HOUSING LOANS ARE GONE FOR EVER -well then CREDIT SCORE AND RATINGS DOES NOT MAKE ANY SENSE ANYMORE -PERIOD
 
bmx88 said:
I COULD NOT DISAGREE MORE WITH THIS - YOU HAVE ABOUT 80 + MILLION PEOPLE IN THE US WHO ARE OUTSIDE OF THAT SYSTEM ALL TOGETHER -that is almost a so called ''CRITICAL MASS'' which is reaching 1/3 of total US population ;credit score ratings etc are affecting lives of people here in the US for far too long and this is the ONLY COUNTRY YOU HAVE SUCH SYSTEM IN PLACE -now system as a system runs on MONEY .... like everything else right .....NOW THESE DAYS DAYS THE MONEY IS GONE -THERE IS NO MONEY so system is eroded beyond repair - WHEREVER YOU GO YOU HEAR THAT TIME OF THE CHEAP CREDITS AND HOUSING LOANS ARE GONE FOR EVER -well then CREDIT SCORE AND RATINGS DOES NOT MAKE ANY SENSE ANYMORE -PERIOD
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That is your opinion and to me the system should be changed but that is not important. The system is what it is and if you live in the US you can go against it or go with it and make your life easier to esthablish a credit score and if you don't then live with that....

bmx88 your strong opinion is not stating the fact that on severals occassions you will need a credit score in the US and if you don't have it, it makes it all more difficult.
 
A loan of $7500 that has 5.60% interest rate(subsidized) and 6.80% interest rate (unsubsized) with 10years payment plan for either both a good deal?
 
cologne I think you should take Bentlebee's advice and check out this school's credentials to make sure that you will be able to find a job after handing over your money and studying for 9 months with them. Seek out and talk to past students, (not the ones recommended by the school) do this on your own. Go to people who are doing the job you want to do and find out what route they took, which schools they went to and what was the cost. Do some investigations before you part with your hard earned money. I know you may be impatient to start but it's better to take a little time and get it done right. Money is too hard to come by to let it go so easily. Just my two cents I hope you weren't offended. Good luck.
 
You should be able to check the College credentials with the County or State. If a College is on probation you won't get a diploma...that is very sour if you paid all these years and years after you graduate.
 
This is experiance of a friend of mine - he paid almost 130 000 dollars for diploma
but he can't find the job so he can retunr the money to the bank . On top of it he has ainterest which is 5% a year! On the whole amount ! He is thinking about leaving the country and coming to europe ...lots of people like that here ....they borrow to study and now no jobs and they can't pay back the loan
 
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