Working with my financial aid office I am maximizing my current federal loans. However I need a little over 4k to cover housing-related expenses for the year. Mom, who has had "bad" credit before I even started school, cosigned a small (5k) student loan last year with a nice lender at a resonable rate. This year we are having servere difficulties finding a lender who will aprove me w/ her as my cosigner; not even the lender from last year will do it (not sure why exactly). She is really the only person I have who'd be willing to do this for me.. I could ask some others but I just wouldn't feel right asking these people unless i knew I was totally out of luck with my mom; I could call back to the old lender to ask why, but I just never put much thought into it. Thanks to my EFC I do not qualify for any Federal grants or additional loans. I will keep working on my own to find an answer, but I am wondering if you guys knew of any specific lenders. That is all. Thank you for your time!
That's the trick of the trade, unfortunately too many people are defaulting on their student loans this time in age. If you don't have a credit score yourself, you'll have to find someone who is willing to sign their financial liability over to you. There are quite a few lenders out there; eg: Sallie Mae, Wachovia Educaid, Nellie Mae; some specialize in dealing with situations like your's. You'll have to look around at lenders, of course you will find one, but don't be surprised if your interest rate is through the roof!
This is what I've been told, but I was wondering if you know if that's true or not. Thanks!
By consumer debt, I mean credit cards, mainly.
So lenders don't care what type of debt, they just see debt?
False they still get counted when a potential lender is calculating how much you can borrow for a car, mortgage or other loan you might try to get beecause they take your income and look at in relation to your total monthly payment obligations, no matter what the source of those obligations might be.
I have student loans that I use for tuition, book, school supplies, housing, and everything else it takes to live. Is there a place I have to claim these loans?
Even though I am using mostly loan money to pay for my tuition do I still qualify for the South Carolina state tuition tax credit?
Thanks
no, you do not claim loans as income. when you start to pay the loans back, you may be eligible to get a student loan interest deduction.
yes, you can qualify for tuition credits even though you paid with loans.
Like for housing and all that other junk. i have financial aid and I still need more for living expenses and an apartment and all.
You get guaranteed student loans through the financial aid office at your school. They will give you a list of lenders you can choose from. All the terms from the different banks will be the same since they are guaranteed by the government. If you have "financial aid" already, I'm assuming you have maxed out on those loans. The only guaranteed one besides those are the federal PLUS loans. These are loans through your parents.
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I am looking for a private student loan, to pay for room and board and food, etc. But most student loan companies don’t accept MMI (Motorcycle Mechanic Institute) as a school on their apps.
Does anyone know of a student loan that does? Other then Sally Mae, they only do tuition type loans for my school now.
Any help would be greatly appreciated. Thanks.
Hope this helps,
http://financialaid.freehostia.com/
Thanks.
http://www.best-student-loans.net