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Just Other Articles - Lines of Credit and Students: Innovative Financing Options for Higher Education
With many financial aid packages being cut as part of overall budgetary cutbacks by the government, many families and students are fi
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
nding that they must foot an ever increasing portion of the higher education bill through traditional means. Unfortunately, many fam
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
ilies simply cannot afford to pay for their child’s education out-of-pocket. They find themselves turning to alternative means to he
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
p finance educational expenses, and some families are turning to lines of credit as one unique solution.
Though only available to fa
Though only available to fa
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
milies with assets or other financial means, lines of credit can offer the solution to helping pay for college when other method are
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ot available. Parents may take out a line of credit on their home, or establish a line of credit based on their creditworthiness and
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
assets at their local bank. These open up an account that works like a credit card, but has the convenience of a checking account.
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
For example, say that John, a child of Mary and Bob, is attending the local University. Financial aid and student loans have taken
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
are of 85% of his educational expenses, but that still leaves 15% that John and/or his parents are responsible for. Though John has
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
a part-time job, at the beginning of the semester he needs an additional $1,200 to pay for tuition. His parents write a check agains
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
their line of credit at the local bank. When the check comes through the bank it is paid like a normal check, but now it converts i
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
nto a traditional line of credit loan with monthly payments due and an agreed-upon interest rate.
Though not widely available in the
Though not widely available in the
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
United States, students in Canada also have another option available when paying for their college expenses. In Canada many banks o
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
fer what is called a Student Line of Credit. This type of funding is available for students who are not receiving any financial aid
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
from Canada authorities. Payments are made on the interest only during the period in which the student is enrolled and afterwards ha
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
a repayment period of up to 84 months.
Financing a higher education can be a process that takes a lot of creative financing by both
Financing a higher education can be a process that takes a lot of creative financing by both
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
parents and students. Though the promise of a higher education is available to more people than ever before, the need to come up wi
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
th a plan for paying for it is extremely important for both students and parents.
Lines of credit should be considered one of the la
Lines of credit should be considered one of the la
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
t resources that should be explored (for American students) because of the fact that payments are due immediately on the loan. Talk
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
with your financial aid counselor about other loan options that might be available to you as you prepare for your educational journey
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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