Fordham Law School Class of 2012 Memories Forum

[silenziatori]

WTF?! I just received an email from Fordham that says this:

We use NYSHESC as a guarantor and
disbursing agent for federal loans. Of course, you are free to choose
any guarantor. Most of our students choose HESC.

Yeah, just got that too. I was planning on using Discover.

It would be helpful to know from Fordham why they guide everyone towards HESC. Anybody know of any benefits of choosing HESC over another guarantor?

[the fledgling]

Perhaps I'm just begin cynical, but maybe Forhdam get's some sort of cut from HESC? Assuming the lenders pay HESC for its services.

[silenziatori]

Perhaps I'm just begin cynical, but maybe Forhdam get's some sort of cut from HESC? Assuming the lenders pay HESC for its services.

I'm skeptical too. I don't see any clear benefit to choosing HESC, aside from the processing time issue they identified to you. But that is not a significant enough issue for them to default towards HESC without further explanation of pros and cons.

[sentinal5656]

cant you use discover through hesc?


hesc isnt a lender is it?

[jrock12]

OK, hesc it is then....i'm not really sure if there is any real difference or if it even matters...but thanks to all for the clarification

did the email they just sent say anything else? it went to my spam folder and looked like a typical spam email so i deleted it (un-recoverable)

[the fledgling]

Email:

Dear Fordham 1L!

We are glad to hear that you are planning to attend Fordham Law in the
fall. By now you have probably begun thinking about paying for school.
Although this information is on our website, we thought we would
highlight some of the important questions and dates.

If you have already completed the following, you are in great shape:

1.Completed the FAFSA for Stafford Loans
2.Completed the Fordham Law Application for Financial Aid, including
the Stafford request on the back. (If you do not want to apply for
Fordham Institutional aid, simply complete the first and last pages of
the form.)

You choose your own lender. We use NYSHESC as a guarantor and
disbursing agent for federal loans. Of course, you are free to choose
any guarantor. Most of our students choose HESC. If you haven’t
already done so, go ahead and sign an e-MPN for your Stafford Loan.
While you are on the HESC website (http://www.HESC.org) you may want to apply
for a Graduate PLUS Loan. (See attached PDF.) We anticipate that
sometime in late July you will receive notification from your lender
that you loan is pending disbursement.

For those of you who will be receiving our Fordham aid, we will send
you a notice during the summer asking you to sign a promissory note for
your institutional loan.

If you have not completed the steps listed above or would like more
information, open the attached PDF to give you more information as you
to get ready to enter Fordham Law.

Have a good summer and we look forward to seeing you in August at
Orientation’s Financial Aid Session!"

FYI, I'm finding out how long it takes to process from an outside guarantor.

[jrock12]

tyvm

[silenziatori]

cant you use discover through hesc?


hesc isnt a lender is it?

Discover isn't on HESC's list of lenders, and this is what HESC says in their FAQ section:

What if I don't like any of the lenders listed on the HESC.org?
You may visit the school's Web site or call the financial aid office and ask which lenders participate with the school. You may also visit lender Web sites to determine whether or not they participate in the FFEL program. HESC cannot guarantee a loan for a lender that does not participate in the program or have an agreement with HESC.

I guess that means you can't get Discover through HESC.

[the fledgling]

I guess that means you can't get Discover through HESC.

I wonder if that's a bad thing. I'm always a little skeptical of really good deals, and Discover's rates have to be the lowest for a reason. HESC's connected to NY State, right?

[silenziatori]

I guess that means you can't get Discover through HESC.

I wonder if that's a bad thing. I'm always a little skeptical of really good deals, and Discover's rates have to be the lowest for a reason. HESC's connected to NY State, right?

Yeah, they are.

[sentinal5656]

I heard all the lenders are basically the same with interest rates now........

But doesnt discover waive some origination fee for stafford loans? or is it gradplus?

[Bankhead]

I heard all the lenders are basically the same with interest rates now........

But doesnt discover waive some origination fee for stafford loans? or is it gradplus?

Gradplus, I think?

[sentinal5656]

I heard all the lenders are basically the same with interest rates now........

But doesnt discover waive some origination fee for stafford loans? or is it gradplus?

Gradplus, I think?

hmmm.... anyone else?

[the fledgling]

3% origination fee for Discover's Grad Plus: http://www.discoverstudentloans.com/stu ... -plus.aspx

And the interest rate is 8.25% and they only offer the .25% for automatic debit. I'm failing to see why everyone thinks they're so much better since this is what most other lenders are offering...

[casper00]

So I just got a letter (after withdrawing in no uncertain terms) from Brooklyn "awarding" me an extra 10,000. Now I'm being offered $41,000 a year from Brooklyn after withdrawing. Efffffff

[cancelled02062010]

No one needs to talk you down from that cliff right?

Not sure what your plans are, but the general employer principal is to dig from the top and skim from the bottom.

[casper00]

No one needs to talk you down from that cliff right?

Not sure what your plans are, but the general employer principal is to dig from the top and skim from the bottom.

I'm going to Fordham, but Brooklyn's tempting me. I think it's rude. I made it very clear, even in my non-enrollment survey, that I wasn't going there (and gave a few reasons in the survey). But 41,000 is full tuition just about. ugghhh

Not really sure what you mean with the general employer principle...

[cancelled02062010]

No one needs to talk you down from that cliff right?

Not sure what your plans are, but the general employer principal is to dig from the top and skim from the bottom.

I'm going to Fordham, but Brooklyn's tempting me. I think it's rude. I made it very clear, even in my non-enrollment survey, that I wasn't going there (and gave a few reasons in the survey). But 41,000 is full tuition just about. ugghhh

Not really sure what you mean with the general employer principle...

I am lucky enough to be working at a firm where I have made some contacts and talked to some partners at large V100 firms. My firm is not one of these; it is a niche that pulls from larger firms.

Anyway, I was in a similar situation with Cardozo and Fordham, and a few other schools, but from what I gathered, especially now, these firms look at the to 10 or 20 people, not %, the top individuals at those schools.

However at a school like Fordham they are willing to 'dig' a little deeper and look into the top quarter or third depending on the applicant.

What I am saying is these people are aware of the rankings, they look at them, they know the schools and how good they are and the students that come out of there. Unless you can throw a cum laude after that lower ranked school, you aren’t going to get their attention….

If you have connections, or different aspirations, this might not apply to you, but the general rule of thumb for BigLaw hiring is, "Dig from the top, Skim from the bottom."

[the fledgling]

I'm going to Fordham, but Brooklyn's tempting me. I think it's rude. I made it very clear, even in my non-enrollment survey, that I wasn't going there (and gave a few reasons in the survey). But 41,000 is full tuition just about. ugghhh

Not really sure what you mean with the general employer principle...

BL makes you fill out a non-enrollment survey? And you're not taking cost of living, books, etc., into account with that $41,000 number. Plus there are undoubtedly strings attached to that $$. I'll admit though that if I were in your situation BL's actions would irk me, but I wouldn't second guess my decision (not saying that you are second guessing...).

[cancelled02062010]

BTW, im going to fordham next year. Hello all. ha

[the fledgling]

BTW, im going to fordham next year. Hello all. ha

Welcome

[casper00]

.

[cancelled02062010]

BTW, im going to fordham next year. Hello all. ha

Welcome

Ha, thank you.

I turned down some t20 schools in favor of Fordham. It's reputation is just too good in the city, (where i live and work), and up-state too. It really dominates the 'metro area' and the state.

Fordham is the right decision. BL's desperate attempts only show you that you have made the right choice.

[casper00]

BTW, im going to fordham next year. Hello all. ha

Welcome

Ha, thank you.

I turned down some t20 schools in favor of Fordham. It's reputation is just too good in the city, (where i live and work), and up-state too. It really dominates the 'metro area' and the state.

Fordham is the right decision. BL's desperate attempts only show you that you have made the right choice.

Welcome then...are you PT or FT?

[cancelled02062010]

BTW, im going to fordham next year. Hello all. ha

Welcome

Ha, thank you.

I turned down some t20 schools in favor of Fordham. It's reputation is just too good in the city, (where i live and work), and up-state too. It really dominates the 'metro area' and the state.

Fordham is the right decision. BL's desperate attempts only show you that you have made the right choice.

Welcome then...are you PT or FT?

PT. I don't want to give up my job. It's going too good for me right now. Depending on how i do this first year will determine if I stay PT.

Anecdotal evidence: I talked to guy at a Big-Law firm who did Fordham PT, and another who now works a Mid-Law firm. They say that you age faster, especially if you are working full time, but as long as you have something else going on, PT is not a detriment to you.

IDK, i was worried about it, so i threw that out there.