Law School Discussion

Denied loans...what to do?

Denied loans...what to do?
« on: July 02, 2005, 08:24:50 AM »
Hey ppl. I applied for my school loans with a cosigner who has pretty good credit, but was denied at both access group and citibank, both online. Does anyone have any suggestions on what i should do? I obviously won't be able to contact my school fin aid office for a couple days, but i want to get on this now. If anyone knows a lender that is a little easier to get some  money from, it would greatly been appreciated.

I will start pulling all of my long, beautiful hair out in a few days if this doesn't get resolved. :'(





jdohno

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Re: Denied loans...what to do?
« Reply #1 on: July 02, 2005, 08:31:52 AM »
Are you sure your cosigner has good credit? I think the miminum FICO score is 620 or something like that. I heard that Access group are the easiest loans to get. So I would have your cosigner check his/her credit report? Good luck

Hey ppl. I applied for my school loans with a cosigner who has pretty good credit, but was denied at both access group and citibank, both online. Does anyone have any suggestions on what i should do? I obviously won't be able to contact my school fin aid office for a couple days, but i want to get on this now. If anyone knows a lender that is a little easier to get some  money from, it would greatly been appreciated.

I will start pulling all of my long, beautiful hair out in a few days if this doesn't get resolved. :'(






RUSewCrazy

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Re: Denied loans...what to do?
« Reply #2 on: July 02, 2005, 08:32:21 AM »
Try Key bank.

ndiver

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Re: Denied loans...what to do?
« Reply #3 on: July 02, 2005, 08:34:12 AM »
Hey ppl. I applied for my school loans with a cosigner who has pretty good credit, but was denied at both access group and citibank, both online. Does anyone have any suggestions on what i should do? I obviously won't be able to contact my school fin aid office for a couple days, but i want to get on this now. If anyone knows a lender that is a little easier to get some  money from, it would greatly been appreciated.

I will start pulling all of my long, beautiful hair out in a few days if this doesn't get resolved. :'(






Brooklaw,

Where are you going to school? I am not sure how easy these lenders are, but here is a link provided by Stetson's Web site for lenders theat they recommend:

http://www.law.stetson.edu/finaid/lenderlinksfall2005.asp

Is your credit that bad... or do you need an excessive amount of money?

HTH

Re: Denied loans...what to do?
« Reply #4 on: July 02, 2005, 08:38:23 AM »
Yes, she just recently consolodated her credit cards/other loans. I will look at Key Bank. My credit is pretty bad, but i decided to go anyway cause i don't think i could fix it in one year(if i had deffered). I'm going to Santa Clara, but the private loans are not really that much, around 13K. Does it have anything to do with the Federal loans? I mean, do i have to apply for the federal Stafford loans BEFORE i try to get the private loans? I didn't think about that before, but nothing i read said that.


keep em coming people, thanks

RUSewCrazy

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Re: Denied loans...what to do?
« Reply #5 on: July 02, 2005, 09:44:20 AM »
The Stafford loan should be the first loan you get. Hasn't Santa Clara sent you an award letter or info about the loan process? Unless you have a Federal student loan in default, you will probably be able to get a Stafford. Then you get private loans to cover the difference between the Stafford ($18.5k) and whatever your annual budget is.

Re: Denied loans...what to do?
« Reply #6 on: July 06, 2005, 05:29:01 AM »
Nellie Mae - with a cosigner, I got 1% above the prime rate. 

plutoeyore

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Re: Denied loans...what to do?
« Reply #7 on: July 06, 2005, 02:07:01 PM »
Since your and your cosigners credit score was just called up when you applied for loans... I would move on it....I think if they pull other cc scores for the same loan within 10-15 days it wont hurt your credit score, after that it starts subtracting points.

Also, you might try to find a diff co signer if at all possible as a back up and apply with them ASAP...


Good Luck!!!

Re: Denied loans...what to do?
« Reply #8 on: July 07, 2005, 06:39:49 PM »
I had the same problem - denied twice with a great cosigner.  I have a bankruptcy on my credit (just over 4 years ago) which is why they denied me, despite my cosigner's great credit.

Then I tried Sallie Mae (Lawloans program) and was approved with no problem.

Whew!  What a relief!!

Re: Denied loans...what to do?
« Reply #9 on: July 07, 2005, 07:37:20 PM »
What a coincidence, i have the LAWloans application right in front of me. Lets hope that they show mercy on my terribble credit having ass.  ;)