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Hi, i have an odd situation. I am attending a college aviation school as an undergrad. To cover flight costs for this semester i need a $100,000 private loan. Ive already applied for government stuff. Also id like to get it without a parental co-sign if i can (its a long story). My credit score is 784 if that matters. Could anyone recommend a company? Im having trouble finding one that will do this. Thank you in advance
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Aug 13, 2007 16:44
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Wiggy Marie posted:Where do you get this, specifically? It states that you must have applied for your maximum annual limit before going to the PLUS/GradPlus. It doesn't say anything about limiting you to the agg limit? In fact, it states that you must have maxed these out (per the school's eligibility standards - you have to have been told by the school that you cannot receive any more funding, regardless of whether you hit the actual aggregate limit) before even applying for a PLUS/GradPlus.
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Aug 13, 2007 18:08
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so, im going to need at least $10,000 in loans (preferably $20,000; to cover both semesters), so far through financial aid i get a unsubidized direct loan but i need other loans to pay for my college... i tried to get a private loan but i dont have a credit worthy cosigner and im pretty sure i need one.... am i pretty much hosed?
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Aug 13, 2007 20:36
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Suck cock and sell rock, that's what I say.
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Aug 13, 2007 20:52
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I'm in rainz0r's boat. My father agreed to cosign, but his credit is shot to hell. What chances do I have at all?
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Aug 14, 2007 14:32
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JustWalkedIn and rainz0r, it IS possible to receive a personal loan without a co-signer, but guaranteed your interest rate will be through the roof. Normally you must have a co-signer anyway - in which case, a lot of times the PLUS loan is the better option. However, if you're positive that a parent can't take out the PLUS loan because of bad credit, first have them apply for one (so that the school can use the denial to make you eligible for more Stafford funds), then start hunting for any private/alternative loans you can. Citibank is one company that I believe offers education-related private loans to those with little credit. The co-signer does not have to be a parent. They can be *anyone*. If you can't find a co-signer and can't take out the loan yourself...well, there's no mystical magical loan available, sadly. carbon sixty, that is wonderful news!!! Congratulations!!! I imagine that's a HUGE stress off your back!  Remember, private/alt loans as a last resort! They're not all bad, but if you must take one out slam it with payments as soon as you can to pay it off as early as possible. Stratos_, did you check http://www.simpletuition.com ? Syncopator, yes and no. They do estimate for this, but it's a literal estimate, and about 95% of the time the school takes the parent's/graduate's/professional student's word on how much they'll actually need. It's always worth a shot to apply for what you need in PLUS/GradPlus, and then if you must take out a private loan. The awards package is only set in stone in regards to the awards offered, but not tuition and PLUS eligibility (huzzah!). sno cones are yummy, sometimes I do wonder why I bothered and didn't just go into drugs. I'd sure have a nice house by now...and maybe a few personal slaves!
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Aug 14, 2007 23:33
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I want to take out a small loan for computer bits (related to my major and things that I would want to buy if I were doing it professionally) for about $1,000-1,500. I would like something that isn't going to bite me in the rear end interest-wise if I can't pay it all off in 2 years. I'm 23 and I have no credit. I can't get tax information from my mother because she refuses to give it to me (I think because she hasn't been all perfectly legit with her tax paying and she has something against me getting loans or any sort of financial aid) and I'm currently not in contact with my father, so figuring out how to fill out the FAFSA has been somewhat challenging. I apparently need someone from Financial-Aid to explain that to me but haven't gotten in contact with anyone yet. Currently I'm living off of what I make in my part time job and monies from my rich retired grandma, which is just about enough for tuition, food and housing for the year. What are my options? I could put my job money towards paying off at least part of a loan, or something. I'm pretty much on my own if I want to expand my finances and I have no idea what the best option is. I'd really like to not get myself into massive dept.
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Aug 15, 2007 00:49
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so how do i get my school to allocate more stafford funds to my aid? do i just call them up? many thanks for all the help youve been providing....
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Aug 15, 2007 01:10
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i have a question regarding grants/scholarships. I know normally you get them during HS/ for your freshmen year and all the following years, but will i be able to reapply for new grants/scholarships for my following years in undergrad? I'm guessing no, but in my situation i will be applying to pharmacy school after two years, will i be able to do so then?
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Aug 15, 2007 01:27
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Stryfe posted:i have a question regarding grants/scholarships. I know normally you get them during HS/ for your freshmen year and all the following years, but will i be able to reapply for new grants/scholarships for my following years in undergrad? I'm guessing no, but in my situation i will be applying to pharmacy school after two years, will i be able to do so then?  ).Also, if you end up doing research as an undergrad, you might get a grant for that.
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Aug 15, 2007 02:04
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Wiggy Marie posted:carbon sixty, that is wonderful news!!! Congratulations!!! I imagine that's a HUGE stress off your back! Do you think my situation would be a good one for the gradPLUS loan? I have excellent credit. It looks like I will need to come up with about another $10,000 to $15,000 a year above what I got in Staffords, and gradplus seems like it would be a good choice. Does that count as an alternative loan? I will probably be working directly out of school, or else going right into a PhD program (thus defering my Staffords, yes?).
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Aug 15, 2007 06:45
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Due to some poor choices on my part I have to take out a student loan for next semester. My parents make too much money for me to get subsidized loans from the government, so I'd like to borrow money from a private lender. Here's the kicker: I also have some credit card debt that is crushing me, so I'd like to borrow more than the cost of the tuition so I can consolidate the two debts into one, at an obviously better interest rate. Is that even legal? I have a good credit score so that shouldn't be a problem. If I am awarded a private loan that is paid to the school will they not give me the difference? Anything I should watch out for? Os Furoris fucked around with this message at 23:26 on Aug 15, 2007 |
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Aug 15, 2007 23:15
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antipathy, Sallie Mae (gag) and Citibank have *some* loans that they *may* be able to help you with, but I wouldn't get too excited. Having no credit is a major deal-breaker. These loans are based exclusively on credit. Honestly, your situation is a lot better than most kid's, since you at least have someone to foot some of your bills. If you can't find an alternative loan, you'll need to look for a better job. Obviously, if anyone, ANYONE reading this thread was in the same situation and got a loan, please feel free to chime in with who and where!!! I am in NO way that familiar with alternative loans. rainz0r, you can try to see if they have an appeals process for additional aid. You can also try to have a parent apply for a PLUS loan and be denied (sometimes easier than an appeal). It's not as simple as calling them up an begging; once they've hit their limit, they won't go any further, and no tears will help one. I know of one girl who was told to get "knocked up" if she wanted more financial aid. Ain't that sweet? Stryfe, what Syncopator said. From the real-life experience's perspective! A lot of times scholarships/grants carry over as long as you maintain your GPA and hours above a certain point. Not all, but most. Check out fastweb.com also. Great resource for little-known scholarships and grants. carbon sixty, is that really a question? Yes, absolutely! What on Earth do you have to lose for trying? It's a better rate than any private loan could hope to be, and a lot of places get your pre-approval results in seconds.The GradPlus loan is a certified honest to goodness federal loan. Not an alternative. It is federally regulated with a federally fixed interest rate. Huzzah! Any time you're enrolled at least half-time or more, and the school certifies this fact, all of your student loans (including the GradPlus!) will be on an In School Deferment. The lender MUST receive verification of enrollment from the school for this. Os Furoris, the sweet legal by-the-rules answer is no! You can't do that! Education-related only!!! The honest answer is I know a girl who used her alternative loan (school certified!) to pay for her wedding. So I say: go ahead and apply for what you need! Only worry if the school lowers the amount.
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Aug 16, 2007 02:43
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I don't know if you know the answer to this or not. I'm a certified teacher, hopefully about to begin teaching this month, in the area of science. I will more than likely be eligible to have a considerable portion of my federal loans forgiven. Can I consolidate my loans, or would this make it impossible to have the loans cancelled? The payment amounts aren't bothering me, but I had three types of federal loans and went to two different colleges in separate states, so I'm getting sick of having to pay four different places each month.
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Aug 16, 2007 05:28
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I'm a grad student on a stipend that covers the entire cost of my tuition for all five years and ~$15,000 for living expenses yearly. My original financial aid award included $5000 per semester in loans. I was planning on using some of this to cover other medical expenses that I have that are not covered by my insurance. Once my stipend was awarded, though, the loans were no longer available because my estimated cost of attendance is completely covered by the stipend. What options do I have for getting this loan money back or getting loans in some other way? I've heard that I can complete a worksheet this fall that will adjust my estimated cost of attendance and *may* make me eligible to get some of that loan money back; are private loans an option here or am I ineligible because my cost of attendance is covered? Any suggestions for adjusting my cost of attendance?
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Aug 16, 2007 19:25
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Quinctia, assuming that none of your loans were taken out before October 1st, 1998, consolidation doesn't make you ineligible for the forgiveness program. HOWEVER, every guarantor has their own wacky way of doing things, therefore it is NEVER a bad idea to call them and ask someone there. Do you happen to know who your guarantor is? I can probably give them a buzz for you. I can say I'm from a lender and sound all official and everything! myklayman, that is a really excellent question that we as the lender have absolutely NOTHING to do with. I'd suggest calling your financial aid office and asking them. We have nothing to do with cost of attendance, estimated budgets or anything else. We just disburse the loans. That being said, make a list of all of your questions so that you know exactly what the ask your school. Make a list I say! This way you won't miss anything.
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Aug 17, 2007 01:17
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Hi! It's the middle of August, but my university still hasn't told me whether or not I'll be receiving a loan. Are students who receive fellowships (full tuition & fees + a stipend) generally barred from receiving loans? I thought that all grad students got an $8500 subsidized Stafford, but it seems like that might be wrong. One of the people in the office told me that I was "fully funded," but my stipend leaves $320/month left over for electric (which is apparently high in CA), books, and food after rent. I've emailed the Financial Aid office, but they haven't answered yet. Thanks for all your help! Achmed Jones fucked around with this message at 02:48 on Mar 15, 2014 |
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Aug 17, 2007 02:25
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It's not unheard of for grad students to get food stamps
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Aug 17, 2007 05:16
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Syncopator posted:It's not unheard of for grad students to get food stamps What are the residency requirements for that? edit: vv cool, thanks Achmed Jones fucked around with this message at 05:34 on Aug 17, 2007 |
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Aug 17, 2007 05:22
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forrest posted:What are the residency requirements for that?
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Aug 17, 2007 05:25
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Syncopator posted:It's not unheard of for grad students to get food stamps NYS Food Stamps posted:Can students get Food Stamps? http://www.otda.state.ny.us/otda/fs/fs_qa.htm Go figure.
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Aug 17, 2007 08:06
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You guys rawk. And you know, I just realized who you are Sync! Glad to see you're back. I'm quick like that. Uhhh...ehem. Really the only thing I have to add is that grad students are eligible for 8500.00 in subsidized funding, but that doesn't mean they'll receive it. Amount and eligibility = determined by the school. But there's always the GradPlus loan! I seriously can't push that loan enough.
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Aug 19, 2007 02:55
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hey, just wanted to say first, that I basically joined SA because of this thread, this is awesome!! I've read through everything in your thread, and haven't quite had my situation touched-on yet, so here goes... basically, I tried the normal college thing, and I just keep flunking out...I suck, and procrastinate like crazy. I was about to completely give up and learn how to drive a truck or something when I found out about this school in dallas called Mediatech. It's basically a trade school that teaches audio engineering, you get your diploma in about 1 1/2 years. I took the tour and fell in love, so I applied, interviewed, got accepted, yadda yadda yadda...so now here I am, about to start this awesome, perfect school when that seven-letter word pops up...tuition. it's going to cost $25,000. keep in mind that this school is not title-4 as of yet, so federal loans are out. The school is relatively new, so alot of private lenders don't even recognize them as a school...actually, only one does...SALLIE MAE! My question is this, is sallie mae so bad that I shouldn't go to this school to avoid their loan? also, I tried to join your website and never got the activation e-mail
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Aug 21, 2007 10:26
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Ah, the website. Anyone else have this problem? I activated your account. Thank you SO much for joining! Still a work in progress, obviously. Sallie Mae...well...I can't say they're great, but if it's really your only option, you gotta do what you gotta do. Just take out exactly what you need and slam the interest whenever possible. If you've found a school that you honestly love and click with, have at it. You shouldn't sacrifice what you see as a strong connection because I despise Sallie Mae Just be very, very careful and monitor your account with them like a hawk.
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Aug 22, 2007 02:31
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This was recently asked of me a couple of times, and I feel it's something worth mentioning in the thread. It's no secret that I hate Sallie Mae, but the question asked was: why? Here's my reasoning, broken down into a rant: Sallie Mae is notorious for atrocious business practices, and even worse customer service. They have outsourced a good bit of their customer service to India, which means someone in India can view all of your personal information with every call. Sometimes I do get an American, but that's very rare. Coincidentally, this outsourcing caused Chase to drop them like a hot potato as their servicing agent, and then promptly sue for breech of contract. Good job Sallie. Also, when I last conferenced with them, their representative began pushing Geico car insurance at the end of the call on the student. Car insurance. They are hated in the student loan industry for very good reason; it is worth mentioning that they were outed on every single count of illegality and wrongdoing in the recent investigation by Cuomo. And contrary to the press reports, NOT every lender is like them. Not even close. They give the entire business a bad name and treat their borrowers like SCUM. I hate them, hate hate hate! Plus they SUCK at consolidations. We had so many issues last year with their information, it was unbelievable. Underpayments everywhere, and in the meantime the poor borrower is going delinquent in our system because Sallie Mae is notorious in the consolidation business for not looking at all the pages in a consolidation application. So if the student has a lot of loans, chances are Sallie Mae will miss one or eight on the first try to pay off the account - and this sucks for everyone involved. I'm sure if you never have to deal with them directly it's fine, but the moment that company has to step in and provide you with anything, it all goes downhill.
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Aug 22, 2007 04:02
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hey, thanks for activating the account. okay, you said just take out exactly what I need, that raises another question. In the application it says I can take up to 60% for iliving expenses, now I wouldn't take nearly that much, maybe an extra $5000. Is that advisable? I'm just not sure if I'll be able to handle a 24 hour school week plus homework, and a job (they cram 4-years of school into 1 1/2 years...woohoo)
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Aug 22, 2007 07:15
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Take out what you know you'll need and see what's certified. There is always a chance that the school will reduce what you've requested, so it's worth it to at least try. If anyone else has registered and never received the e-mail, please let me know so I can activate your account. And try to fix the problem.
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Aug 25, 2007 02:17
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I need about $3500 as a part time student this semester (two weeks). I can't get a Stafford loan until I matriculate. Should I just go for the cheapest rate listed in simpletuition.com?
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Aug 27, 2007 18:53
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That's pretty much what I would recommend, but be careful - many private loans also require that you be attending at least half-time. If I'm not mistaken, Simple Tuition helps to filter those out.
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Aug 30, 2007 00:41
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First of all, great thread. I had a question: what kind of loan options are available to K-12 students? I was accepted to attend a boarding school this year with a tuition of $40k, and we got $20k in financial aid. We need to take the rest out in loans, but my parents both have really terrible credit. We got turned down for the Key AchieverLoan, which is apparently an incredibly easy loan to get a hold of, so we're at a loss for options here. Do you know of any other loans out there for K-12 for people in our situation, or anything to suggest? I'm assuming that since I'm 17, I can't sign or co-sign for any loans, or else I' probably do something like that... I also might be able to get my grandfather, who's extremely credit worthy, to co-sign- would we be able to get accepted in that case, even with my parent's bad credit?
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Aug 30, 2007 07:04
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Moushi posted:I also might be able to get my grandfather, who's extremely credit worthy, to co-sign- would we be able to get accepted in that case, even with my parent's bad credit? There ya go. Co-signer can be anyone, if I'm not mistaken, but I'm really not that familiar with the K-12 options out there. I got nuthin'. Here's what a quick Google search pulled up: http://www.privateschoolloan.com/
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Aug 31, 2007 00:31
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Much to nobody's surprise, I got my letter from FInancial Aid today, in regards to the appeal I put in mentioned earlier this page. THey denied my appeal, so no more financial aid for me, and they were even nice enough to add a snarky comment to the bottom of the appeals form! "The unit cap allows for a reasonable amount of pre-requisites." Yeah, thanks for never bothering to mention that in my paperwork, OR mention that the unit cap includes all units ATTEMPTED, including classes I withdrew from the first day. My school is dumb.
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Aug 31, 2007 00:50
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So what now, Cathis? On to the private loans? And attempted hours, too? Yeesh. Ahhh, no need for reform here, no sir, please look the other way...
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Aug 31, 2007 03:55
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Well, this semester I can cover. It'll be a stretch, but we can manage. Next semester..... either a private loan or some creative usage of the husband's school loan. (He pays for room and board, I use the paychecks to pay for my tuition or something.) Next summer, though, it's back to the workforce! Yay! (not.) Nothing says graduate school like collecting nasty water samples all day and going to school at night
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Aug 31, 2007 04:21
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Thanks for the thread. It inspired me to try and find out what the interest rate on my Canada Student loans actually is. I couldn't find it because I am in the "grace period" where they don't tell you anything but I DID find out that the "grace period" is a dirty lie because they are charging me interest. Bastards! I qualify for interest relief but not during the six month "grace period". I'm consolidating this loving thing TOMORROW and applying for my goddamn relief. Thanks for saving me six months of "grace".
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Aug 31, 2007 05:16
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Well, if the grace period works like it does here, that's mostly for kids who honestly can't afford to pay a dime when they've graduated. However...I know nothing at all about the Canadian program. Maybe you could give me a breakdown? FYI kids - I'm going to be transferring to my company's compliance and quality assurance department, which means I'll be privy to even MORE knowledge! Huzzah! Maybe now I can start giving more info in my OP. I really need to add to that thing.
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Sep 5, 2007 00:47
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I thought I'd update with my findings. My institution only offers financial aid for cost of attendance, not living expenses. Since my fellowship covers the cost of attending and then some, I can't get any loans that remotely go through the school, including Stafford loans. Oh well! Achmed Jones fucked around with this message at 02:47 on Mar 15, 2014 |
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Sep 5, 2007 02:01
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Is there any reason why my bills come out of order? I just received one of my student loan bills from my college one month after it was supposed to be sent, and i received another email detailing the penalties for not paying on time.
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Sep 5, 2007 02:19
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I only have about $11,000 in student loans, and my grace period runs until November. I have two different loans, one with a 6.5% fixed rate and one with a 6.8% variable rate. I have a fairly well paying job, and paying off these loans is my first priority. Hopefully I will have them paid off within 12-18 months. Is consolidation even worth it in my situation? It seems like most of these places make you pay 24 payments before you get an interest break. With such a (relatively) small amount in loans, will consolidating help my credit score at all? Thanks for the advice.
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Sep 6, 2007 00:49
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CrazyPanda posted:Is there any reason why my bills come out of order? I just received one of my student loan bills from my college one month after it was supposed to be sent, and i received another email detailing the penalties for not paying on time. Are you referring to your college payment bills? I'm not sure why they'd be coming out of order - that's something to contact the college about. If it's from your student loan company, it could be the post office being weird. We get it all the time. E-billing can clean that all right up! forrest, le sigh. Good luck hun. Lemme know what you end up doing, if you don't mind? It might help other kids in your situation. kerdis, honestly I wouldn't bother in your position. You're going to pay them off quickly anyway. Consolidation is really more for people who can't afford their payments or might need some forbearance time renewed. The interest rates right now are, let's face it, kinda not-good.
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Sep 9, 2007 04:44
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