Pick6
Posts: 14,946
Jul 31, 2010 11:24pm
Im having a hell of a time getting accepted for a private student loan. I dont have an established credit and my parents cannot co-sign due to bad credit and high outstanding debts from their divorce..anyone got any info on how i could get accepted/any other possible options??
Thanks!!
Thanks!!
M
Manhattan Buckeye
Posts: 7,566
Jul 31, 2010 11:47pm
Quick question: is the servicer being arranged by your school's financial aid resources? If so, the school can probably intervene. If not, are there private servicers the school can provide?
Pick6
Posts: 14,946
Jul 31, 2010 11:52pm
I go to the financial aid area of the schools website, and it takes me to a link called FASTchoice..which then brings up a list of banks and it shows their interest rates, etc..i have already applied for two and was denied.
sonofsam
Posts: 2,052
Aug 1, 2010 12:01am
It might be because you are not "economically viable".
imex99
Posts: 4,927
Aug 1, 2010 2:27am
They prolly know that you suck at NCAA 11.... haha j/k
I was denied a few back in college and just had to keep trying!!! Have you tried perkins or any like that?
I was denied a few back in college and just had to keep trying!!! Have you tried perkins or any like that?
KR1245
Posts: 4,317
Aug 1, 2010 8:27am
I would avoid private student loans if I were you. My girlfriend just graduated from OSU last June. She took out private loans (either with Citiassist or Chase) and her monthly payments are ridiculous. She is paying 530 bucks a month. I took out federal loans and my payments will be less than half of that. Alot of these consolidation programs arent willing to help out with private loans right now.
I'm not sure what the age is but I know that if you claim yourself as an "independent" on your FAFSA you highly increase your chances of getting aid.
I'm not sure what the age is but I know that if you claim yourself as an "independent" on your FAFSA you highly increase your chances of getting aid.
Pick6
Posts: 14,946
Aug 1, 2010 9:52am
imex99;438187 wrote:They prolly know that you suck at NCAA 11.... haha j/k
I was denied a few back in college and just had to keep trying!!! Have you tried perkins or any like that?
hahaha...the schools gave me something like $2500 federal stafford unsubsidized and 3500 subsidized..also a $1500 scholarship. I believe Perkins if given by the school correct? If so, I didnt get it..
Did you have a cosigner for your loan?
Pick6
Posts: 14,946
Aug 1, 2010 9:54am
KR1245;438221 wrote:I would avoid private student loans if I were you. My girlfriend just graduated from OSU last June. She took out private loans (either with Citiassist or Chase) and her monthly payments are ridiculous. She is paying 530 bucks a month. I took out federal loans and my payments will be less than half of that. Alot of these consolidation programs arent willing to help out with private loans right now.
I'm not sure what the age is but I know that if you claim yourself as an "independent" on your FAFSA you highly increase your chances of getting aid.
The college is giving me like 6k in federal loans. Is there a way to get/apply for more?..Hopefully I will get some financial aid next year since I will have my sister starting college.
Crazy Eyes
Posts: 5
Aug 1, 2010 10:08am
I did a private loan when I was in school and needed a couple thousand dollars to move into my new apartment and get on my feet. I needed a co-signer and it was the worst decision of my life. The APR on that loan is absolutely crazy, and the payments are amazingly high.
I would go talk to a financial aid officer if I were you and see if there is something else the school can offer you before you go down the private loan route.
I would go talk to a financial aid officer if I were you and see if there is something else the school can offer you before you go down the private loan route.
M
Manhattan Buckeye
Posts: 7,566
Aug 1, 2010 10:18am
Pick6;438238 wrote:The college is giving me like 6k in federal loans. Is there a way to get/apply for more?..Hopefully I will get some financial aid next year since I will have my sister starting college.
$6K/semester or $6K/year? $6K/year seems low.
sherm03
Posts: 7,349
Aug 1, 2010 10:19am
Same thing happened to me. My payments aren't bad...but the interest rate is crazy high.Crazy Eyes;438243 wrote:I did a private loan when I was in school and needed a couple thousand dollars to move into my new apartment and get on my feet. I needed a co-signer and it was the worst decision of my life. The APR on that loan is absolutely crazy, and the payments are amazingly high.
I would go talk to a financial aid officer if I were you and see if there is something else the school can offer you before you go down the private loan route.
M
MontyBrunswick
Aug 1, 2010 12:14pm
Did you fill out your FAFSA? If so, fill out another and file yourself as independent.
Also: I took out private loans, but my dad has spotless credit and he co-signed for me. My payments are fairly low I believe.
Also: I took out private loans, but my dad has spotless credit and he co-signed for me. My payments are fairly low I believe.
Pick6
Posts: 14,946
Aug 1, 2010 12:21pm
Manhattan Buckeye;438245 wrote:$6K/semester or $6K/year? $6K/year seems low.
yes 6k a year..they gave me a 1500 scholarship, 6k in federal loans, and are wanting me to take out 16k in private loans. It kind of sucks because my family makes enough to not get any help, but not enough to really help me, and like i said, their credit is in the shitter.
Pick6
Posts: 14,946
Aug 1, 2010 12:29pm
dlazz;438314 wrote:Did you fill out your FAFSA? If so, fill out another and file yourself as independent.
Also: I took out private loans, but my dad has spotless credit and he co-signed for me. My payments are fairly low I believe.
yes, i believe its too late to fill it out now to receive financial aid from the school..im only 19, and I checked the website and filled out the worsheet and it says I should be a dependent(even though basically all my parents give me is a place to stay)..or can you lie about it and they would never know?
I
I Wear Pants
Posts: 16,223
Aug 1, 2010 2:25pm
FAFSA is such a shit system it's unbelievable. My older sister, brother, and I are all in college and we don't get any more federal aid then when it was just one of us.
imex99
Posts: 4,927
Aug 1, 2010 3:42pm
i believe your parents have to claim u if ur under their roof...
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Sent from my Sprint HTC EVO 4G using Tapatalk
KR1245
Posts: 4,317
Aug 1, 2010 5:54pm
I Wear Pants;438374 wrote:FAFSA is such a shit system it's unbelievable. My older sister, brother, and I are all in college and we don't get any more federal aid then when it was just one of us.
It is a pretty shitty system. If your parents make too much money you dont get much help if any at all. If your parents have poor credit and arent eligible to be a co-signer you're pretty much up shit creek.