Law School Discussion

University of Chicago Class of 2011

Re: University of Chicago Class of 2011
« Reply #230 on: July 02, 2008, 03:36:08 PM »
Tell me about it.

Chicago's funding is backed by IDAPP, and IDAPP's funding is in turn backed by a private institution. Private institution pulls its funds from IDAPP and, presto, no more loans from Chicago.

I can understand vagaries in the market and the consequences thereof. What irks me is that it took this long for the financial aid office to realize what was going on with IDAPP.

Now it falls on the students to scramble for loans.

RIP UC/IDAPP Partnership (1996-2008).

Re: University of Chicago Class of 2011
« Reply #231 on: July 02, 2008, 04:19:28 PM »
I haven't read the ATL posts. But I am seriously considering pursuing a private loan through CitiBank instead of paying the ridiculous 3% origination fee and fixed 8.5% interest rate of the GradPlus.

Re: University of Chicago Class of 2011
« Reply #232 on: July 03, 2008, 08:32:26 AM »
I haven't read the ATL posts. But I am seriously considering pursuing a private loan through CitiBank instead of paying the ridiculous 3% origination fee and fixed 8.5% interest rate of the GradPlus.

Yeah, the origination fee is pretty bad but, depending on where you want to work, it may not be that big of a deal.  If you plan to go into public service and take advantage of the Income Based Repayment and Public Service Loan Forgiveness Programs, those GradPLUS loans can be discharged after 10 years.  Not so for the private loans, I believe.

Re: University of Chicago Class of 2011
« Reply #233 on: July 03, 2008, 10:17:23 AM »
I haven't read the ATL posts. But I am seriously considering pursuing a private loan through CitiBank instead of paying the ridiculous 3% origination fee and fixed 8.5% interest rate of the GradPlus.

Yeah, the origination fee is pretty bad but, depending on where you want to work, it may not be that big of a deal.  If you plan to go into public service and take advantage of the Income Based Repayment and Public Service Loan Forgiveness Programs, those GradPLUS loans can be discharged after 10 years.  Not so for the private loans, I believe.

Good point. People need to consider that. It doesn't apply to me, but that could really hurt some people.

odd

Re: University of Chicago Class of 2011
« Reply #234 on: July 03, 2008, 04:27:02 PM »
Today's been a blast from the past.  Applying for loans again.  People announcing their June LSAT scores.  I feel like I shouldn't be on here anymore.

Random anecdote: today I told an attorney friend of mine I was going to Chicago, to which he replied "That's like the Harvard of the midwest!"  He meant well, but for some reason it seemed like an odd sort of compliment.

Re: University of Chicago Class of 2011
« Reply #235 on: July 05, 2008, 07:51:00 AM »
Speaking of financial matters...

I am likely ending business with my current bank. What are some good banking options in Hyde Park?

MP

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Re: University of Chicago Class of 2011
« Reply #236 on: July 05, 2008, 08:27:31 AM »
Speaking of financial matters...

I am likely ending business with my current bank. What are some good banking options in Hyde Park?

Citibank definitely. 

There's a branch right next to the bookstore, and if you sign up there, they have a special deal for UChicago students you can't find online or at the other regular branches. Plus, Citibank is everywhere in the city

(I switched from US Bank to Citi when I got to Chicago)

Re: University of Chicago Class of 2011
« Reply #237 on: July 05, 2008, 08:46:10 AM »
Excellent.

Thanks.

Re: University of Chicago Class of 2011
« Reply #238 on: July 05, 2008, 09:31:43 AM »
Speaking of financial matters...

I am likely ending business with my current bank. What are some good banking options in Hyde Park?

I'm going to open a student checking account at citibank.  They offer unlimited ATM and decent perks, so that should keep me happy.

Must you open an account on campus to have those perks?

I tried opening an account online just now, but they didn't offer anything. Then I called, and I was told that local branches offer local deals. He transferred me to the campus bank, but no one picked up the phone...he never gave me the number, either. Grr.

nerfco

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Re: University of Chicago Class of 2011
« Reply #239 on: July 05, 2008, 09:37:54 AM »
There's also a Citibank ATM in the Reynolds Club and, as far as I've heard, in the law school as well.

Wes, there is a Citi ATM in the law school. Citi is definitely the handiest bank on campus.