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Messages - ErinKG

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Financial Aid / Re: How much are you spending?
« on: June 29, 2005, 05:41:59 PM »
I don't have a family, but my BF (soon to be DH) and I own a house and cars, etc. It's worth it for us to take the money out now and continue living here with the cars, etc. We will definitely cut back on certain things and may not need the whole amount. We just want to have it just in case. The staffords will just cover my tuition, so the additional $46k will be for us to live on for the next year (we included summer in our planning in case I don't find a paying job). He also has a salary (40k), so I think we'll be good.


Financial Aid / Re: Private Loan Question
« on: June 29, 2005, 05:39:00 PM »
Did your father not file taxes? I think all he needs to show is $18k/year or something like that. If he didn't file taxes, then you are definitely in a tight spot. Can you apply on your own? If these are the certified private loans, you may be able to get the loan without a cosigner, although your rate might be higher.

In general, a credit increase will cause your score to go up, but only if it makes a significant difference in your debt to credit ratio. If you have a high percentage (say 90%) of your credit being used and a credit limit increase will take that percentage down below 70%, you will most likely see an increase in your score of up to 50 points or so. In most cases, the inquiry will not lower your score more than a few points, so it can be a good thing to request increases. But, if you request an increase and don't get it, your score will probably drop a bit from the inquiry.

Financial Aid / Re: Citibank private loan fees???
« on: June 29, 2005, 05:30:37 PM »
I'm pretty sure the incentives are partly based on your school as well as the rate.

Financial Aid / Re: Stafford Loans from Lenders
« on: June 28, 2005, 10:08:32 PM »
Direct Loan is a government agency (or part of one) that can loan and service your loans. I consolidated my undergrad loans with them, but I did not choose them for my law school loans. They don't offer the incentives offered by the other lenders. The lenders recommended by my school offered the best incentives of all, so I went with Citibank, which was on their list.

Just an FYI - Direct Loan is great to work with. There is none of the crap involved with other lenders (I'm thinking specifically of Sallie Mae).


I received Prime+.25% (the best offered for my school). My cosigner's score is around 720 (mine is around 660, but I think they use the cosigner's).


Financial Aid / Re: How much are you spending?
« on: June 28, 2005, 02:41:51 AM »
I'm planning on 18.5k for Staffords, ~16k for private loans and 30k for uncertified private loans for the first year. I'm hoping I won't have to take out as much uncertified for the second year, but we'll just have to wait and see.

Financial Aid / Re: "amount requested"
« on: June 28, 2005, 02:40:11 AM »
Many times the rates are based on which school you are attending. Some people are getting Prime+0% from Citibank, but through my school they offer Prime+.25% as their lowest. Does your school list a range on their website? Are you choosing your school's preferred lenders?


Financial Aid / Re: Citibank private loan fees???
« on: June 28, 2005, 02:38:22 AM »
If the PLUS score is experian's standard score, then they should be similar. If you're concerned, you might want to spend the $10 (or however much it is) and check just to be sure.


Financial Aid / Re: Citibank private loan fees???
« on: June 26, 2005, 11:19:55 PM »
Try, but remember that the score you see will not be the exact same one that the lenders will see. There are specific scoring algorithms for different types of loans.

Oh, and usually the scores are pretty similar between the 3 credit bureaus. If you received a good score from Experian, your other scores will most likely be good as well.


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