bank advice for student loans needed

[97tbird]

I need some advice, guys.

My wife and I both get our financial aid for school thru College Foundation Inc., This time however, I was denied the private part of the loan(the bulk), because my credit score was too low(685). Now I need a surety(co-signer)to get the loan. My wife's was approved, but next year her score might drop enough that she'll also need a surety. We don't have many people to ask, and it's a hard thing to ask for. Her family might do it, but they haven't replied to us so far...so..you never know. I have no relatives here in the u.s...in short, we're terrified.

I'm thinking of going to school part-time next year to save. My wife needs cosigners for only the last 2 yrs of pharmacy school, and then all is OK.

a Lot of people have told us that our credit scores are good, and a normal bank would've approved the private loans..they all say that the credit-score limits set my the College Foundation are ridiculously high...

So I was wondering: are there any good banks/institutions that are easier to get student loans with?

any advice/info would help. thanks.

 

[The_Jeff]

Federally guaranteed loans will loan to practically anyone. Are you an alien/in default/AWOL/tax trouble? If not you can probably get one.

685 isn't that shabby a credit score either. I don't see why you're sticking with College Foundation.

Look around.

 

[97tbird]

eljefino,

i ordered a credit report from Equifax (CF uses them for wuto credit check)that day: not a single negative thing on the whole report. the only loans i have are the student loans (just started last year) with the same institution(CF), and our car payment, which we pay on time, and all is OK with that. We have one credit card, and all is ok with that, too...so "0" negative history.

I'm not in any kind of tax/otherwise trouble, either. the fact that i'm a perm.resident...i don't know; it didn't affect getting the loans last time...

yeah, I got the fed. loans with no problem; hardly enough for living expenses, though, i don't get a lot of fed.loans, 'cause i'm still undergraduate. it's the "extra"/private loan that wasn't approved.
Thanks for the comments.

 

[97tbird]

bump.

any more advice...anybody?

 

[wavinwayne]

Are you a member of a credit union? They might have some sort of program that could help you.......just a thought.

 

[ryansride2017]

"This time however, I was denied the private part of the loan(the bulk), because my credit score was too low(685)."

685 is better than 95% of the public.

You didn't say how much you have. Several years ago (when the 0% offers came out with the credit cards) my wife and I transferred my loans to two different credit cards. My credit is excellent so I have always been able to get 0% for a year plus and once that term is up we transfer it to another 0% offer. I didn't pay a dime of interest for years. Some people might say it's not the right way to do things but it saved me a tank load of money.

 

[97tbird]

quote:

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Originally posted by msparks:

Kind of off topic, by why would you borrow money to go to school? I see every day that folks getting out of college 30,000 in debt only to make $25,000/year.

If you want my advice, have one go to school, while the other works, then take turns once they get a good job. You will be farther ahead in the long run.

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My wife will be finishing pharmcy school in 3 yrs. The lowest starting salary for a pharmacist is about 100k/yr right now, due to the huge shortage in pharmacists. so i think it'll be worth it. As you said, to make about 30k/yr, it's not worth it. but in our case, i think it will be.

I'll be applying to pharmacy school this yr, too. But now it might change. I might not apply, and let the wifey get thru first.

 

[msparks]

Kind of off topic, by why would you borrow money to go to school? I see every day that folks getting out of college 30,000 in debt only to make $25,000/year.

If you want my advice, have one go to school, while the other works, then take turns once they get a good job. You will be farther ahead in the long run.

 

[Al]

quote:

---

Originally posted by msparks:

Kind of off topic, by why would you borrow money to go to school? I see every day that folks getting out of college 30,000 in debt only to make $25,000/year.

If you want my advice, have one go to school, while the other works, then take turns once they get a good job. You will be farther ahead in the long run.

---

Couldn't agree more. But I realize everyone's situation is different. Starting off with lots of debt is the worst. Not lecturing you, but you will be unbelievably amazed how tough life is

and with debt its a lot tougher.

 

[Gary Allan]

quote:

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but you will be unbelievably amazed how tough life is

and with debt its a lot tougher.

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Amen, Al. Amen