Law School Discussion

timelines for private loans?

Burning Sands, Esq.

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Re: timelines for private loans?
« Reply #20 on: May 28, 2004, 06:35:58 AM »
"My school basically told me to wait.  I was like Wait?  Wait until its too late and I've already quit my job?  Because they're NOT going to take me back after I get done telling people off like Half Baked."

Have you gotten your complete financial aid package?  From what my school said, I have to wait until I get the package complete (which won't be until the middle of June once tuition is set) because they have to approve how much I can get in loans...

That's basically the same line they told me.  So I guess we'll wait and see, eh?

Re: timelines for private loans?
« Reply #21 on: June 02, 2004, 09:18:41 PM »
how about the switching schools part of the question? i may be in the same predictment. would i have to reapply for the loan, or switch it over?

Re: timelines for private loans?
« Reply #22 on: June 03, 2004, 07:26:04 AM »
You have to reapply if you change schools, which also means that it lowers your credit score and makes it a little harder the second time! 
Also Santa Clara says that you need to apply for private loans by mid to late June, as all of the tuition is due July 23. Not sure about other places but I would bet most schools are asking for tuition by then as school starts early August.

Re: timelines for private loans?
« Reply #23 on: June 03, 2004, 03:28:13 PM »
I have been worried about this topic lately also so I called Access Group (http://www.accessgroup.org/) and asked them how the whole private loan thing works. They said that I need to get the final answer from my school on what Stafford loans I am eligible for first, then they can work on the private loans I need. They said you are approved or rejected immediately if you register online and it takes about a week or so for funds to be transfered to you. So the whole process will take a week or two tops and they told me not to worry yet. However, if it gets closer to the time I'm leaving for school, they said to take out the private loan for the entire amount and the school will refund the difference of your Stafford loan back to them.

I heard from some of my friends already in school that Access Group is a good company to use for private lenders.

They also said beware of leanders such as Salliemae. 

Hope I helped someone out here.........

EL217

Re: timelines for private loans?
« Reply #24 on: June 03, 2004, 10:39:18 PM »
So, what about sallie mae should we watch out for?  have you guys heard of other companies to look out for? 

Re: timelines for private loans?
« Reply #25 on: June 04, 2004, 02:10:20 PM »

I heard from some of my friends already in school that Access Group is a good company to use for private lenders.

They also said beware of leanders such as Salliemae. 

Hope I helped someone out here.........

How come?  I haven't heard anything negative about SallieMae or NellieMae.  I'm not sure what difference between the two is.  The only thing about those lenders are that they charge students with so-so credit a disbursement fee.