Law School Discussion

So who did everyone end up going with for their loans?

SleepyGuyYawn

Re: So who did everyone end up going with for their loans?
« Reply #50 on: June 12, 2005, 12:42:11 AM »
Anybody know if late June is too late to apply for private loans?  I'm trying to pay off some credit cards this month before I apply.  What do ya'll think?  Am I cutting it too close?

Re: So who did everyone end up going with for their loans?
« Reply #51 on: June 12, 2005, 10:58:01 PM »
I went with THE for my Stafford and I will also go with them for my private since Access does not think my score of 760 is worthy of their low interest rate.

Re: So who did everyone end up going with for their loans?
« Reply #52 on: June 13, 2005, 07:48:42 AM »
Anybody know if late June is too late to apply for private loans?  I'm trying to pay off some credit cards this month before I apply.  What do ya'll think?  Am I cutting it too close?

I think most schools (well, UVa and NYU from my own experience) say to apply mid early-mid July at the latest.

SleepyGuyYawn

Re: So who did everyone end up going with for their loans?
« Reply #53 on: June 13, 2005, 09:09:05 AM »
Thanks.  That's helpful.

rm5400

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Re: So who did everyone end up going with for their loans?
« Reply #54 on: June 13, 2005, 10:56:43 AM »
Anybody know if late June is too late to apply for private loans?  I'm trying to pay off some credit cards this month before I apply.  What do ya'll think?  Am I cutting it too close?

I could wrong but if the purpose of paying off credit cards is to increase your credit score, I don't believe the turnaround is that quick.  I think something like that would take a few months to reflect in your credit score.  Reason being I think credit cards send reports every month or two relaying your standing rather than reporting agency's acquiring the info everytime you apply for a loan.  Not positive on that though.

SleepyGuyYawn

Re: So who did everyone end up going with for their loans?
« Reply #55 on: June 13, 2005, 11:24:25 AM »
Huh... I wonder how I'd check on that.  Call the credit agencies?

rm5400

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Re: So who did everyone end up going with for their loans?
« Reply #56 on: June 13, 2005, 12:36:27 PM »
Huh... I wonder how I'd check on that.  Call the credit agencies?

Probably, part of the info I had on that was because I called a Macy's credit card that I forgot to pay once.  I was terrified it would f up my credit but they said that it had to be 60 days deliquent before they would report to the credit agency and hence screw up my credit.  However, I know you can get your credit report changed by writing to them in case of mistakes, so maybe you could write to them once you paid off the cc's and they could expedite the change in your score.  Just an idea.  I guess try calling one of the agencies for that.

Hegel

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Re: So who did everyone end up going with for their loans?
« Reply #57 on: June 30, 2005, 09:36:47 PM »
Thanks to you guys for the info on the private loans. 

Definitely shop around for the best terms.  Example ... I was approved by two companies:

Access at LIBOR + 6.45% !!!!
Northstar at LIBOR + 2.75% (plus incentives at repayment)

And, I almost stopped at the first quote!  Almost a 4% difference!!!  Shop. Shop. Shop.

bruin

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Re: So who did everyone end up going with for their loans?
« Reply #58 on: June 30, 2005, 09:52:05 PM »
Mailed my promissory note yesterday.

BofA: LIBOR + 2.60%