Credit Scoring and Private Loans

[harmfultoclient]

[...] and once you decide to be a lawyer for that hearing before the Queen's Bench (lol)

jackal, are you implying smth here, or what? I mean, I have a sinking feeling you're not saying this with the best of intentions in your heart

[lsantos623]

the one thing that you've got to love about this law school business is that they will certify you for how much money you want ... you can get from banks, I heard, even beyond your cost of attendance ..

can anyone deny/confirm this?  that's how i'm hoping to pay my credit cards off but it seems that maybe you can't do it? so confused...

[giffy]

the one thing that you've got to love about this law school business is that they will certify you for how much money you want ... you can get from banks, I heard, even beyond your cost of attendance ..

can anyone deny/confirm this?  that's how i'm hoping to pay my credit cards off but it seems that maybe you can't do it? so confused...

Bank of America offers what they cal la MAximizer loan that can be for quite abit over the cost of attendences. 30 or 40k I think. However they require either income for the past two years or a cosigner. If your working now I would apply now if you want it. The origination fee is pretty high a 9.5, but I seem to rember the interest being around 5. Somethign like LIBOR + 2.

[JeffB]

the one thing that you've got to love about this law school business is that they will certify you for how much money you want ... you can get from banks, I heard, even beyond your cost of attendance ..

can anyone deny/confirm this?  that's how i'm hoping to pay my credit cards off but it seems that maybe you can't do it? so confused...

You can boorow up to the amount authorized from your school.  That is the cost of attendance.  The cost of attendance includes misc. expenses, living expenses, transportation, books, personal, etc.  So you will be able get more than just the price of tuition.

[giffy]

the one thing that you've got to love about this law school business is that they will certify you for how much money you want ... you can get from banks, I heard, even beyond your cost of attendance ..

can anyone deny/confirm this?  that's how i'm hoping to pay my credit cards off but it seems that maybe you can't do it? so confused...

You can boorow up to the amount authorized from your school.  That is the cost of attendance.  The cost of attendance includes misc. expenses, living expenses, transportation, books, personal, etc.  So you will be able get more than just the price of tuition.

You can also amend this amount with the school. So for example if they assume a rent of 500 a month and your rent is 800 a month you can tell them and they will up your COA. You can do the same thing to purchase a computer, if your books wind up costing more then they estimate, and some other things.   

[ErinKG]

Bank ONE also offers a loan beyond your cost of attendance - 25 or 30k I think.

Erin

[lsantos623]

Wow its good to know other people know their *&^%, thanks everyone!

[CPSinvestigator]

my score is in the low 600's and i just got approved for the full COA. im very shocked, but thrilled to know i can head of to LS. these loans are relatively easy to get as long as you dont have a bankrupcy or defaulted on student loans. keybank law achiever is the easiest one to get approved for. look at it this way, lawyers usually make money. the bank wants to give you money b/c more thank likely you will be paying it back. its not llke give $150,000 for a Ph.D. in basket weaving.

[JeffB]

I took out a loan with keybank for my Kaplan LSAT classes.  Worst bank I have ever ever ever dealt with.  I had problems with them at every turn and at every possible turn, they screwed up my paperwork.  I had them on my speed dial for about 2 months.  I had one of their operators actual tell me that their way of doing thigs is "a pain in the ass."  I hate keybank.  I won't even use their ATMs.  They did approve me with a 583 credit score though ($1200 loan).

[dbgirl]

I am encouraged to know that people with low credit scores are getting private loans. I just ordered my 3-in-1 report today and was surprised by how low my scores are. I really have tried to keep my credit clean, but I have endured a lot of financial difficulty w/medical bills, a child with learning disabilities, etc. The biggest thing hurting me right now is that I have had to use my cards to pay for a lot of things.
I was really freaking out about how I would be able to finance law school, but it does sound like I will have some options.