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Author Topic: Credit Scoring and Private Loans  (Read 7755 times)

carpenoctem

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Re: Credit Scoring and Private Loans
« Reply #60 on: June 27, 2005, 09:57:38 PM »
Anytime you borrow a large amount of money your score goes down until you pay at least half of it. After 1 or 2 years of law school, e.g., most law students have a suck-ass FICO score.
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Nole

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Re: Credit Scoring and Private Loans
« Reply #61 on: June 28, 2005, 01:50:44 PM »
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.   

Does anyone know if you have to do this with the school before you apply for the loans or if you can just apply for a higher amount?
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michael23

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Re: Credit Scoring and Private Loans
« Reply #62 on: June 28, 2005, 07:03:40 PM »
I just talked to Cal Western about this. You have to write a letter to the financial aid dean about why you need the COA increase. they will then approve or deny it. If they approve it then you can request a larger loan amount. There are way around this by going through lenders not requiring verification with your school. The financial aid office advised me against this though because these types of loans ar often higher interest rates.

arrogant

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Re: Credit Scoring and Private Loans
« Reply #63 on: July 03, 2005, 07:07:53 PM »
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Your FICO will probably be similar from all 3 credit reporting co's. Different companies use different credit reporting companies for verifying credit, and all of the 3 get info from most all sources on a regular basis. I don't think that any one is most widely used, or there is little difference.

Actually, for the sake of the truth, your FICO score will be DIFFERENT for the 3 credit reporting agencies. NOT all of the 3 credit reporting agencies get info from most sources on a regular basis. And as to which is most widely used, it all depends on where you live -- almost all creditors will consult the same credit report on you, i.e., from only one and the same credit reporting bureau.

Actually, for the sake of truth, creditors will NOT consult the same credit report on you, i.e., they can use whichever credit reporting agency they want, without regard to the area of the country where you live.


BAFF213

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Re: Credit Scoring and Private Loans
« Reply #64 on: July 04, 2005, 10:21:42 AM »
good info

danke

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Re: Credit Scoring and Private Loans
« Reply #65 on: August 27, 2005, 03:25:41 AM »
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Well, law school may be hard, and if you aim for the top of the class, your life will probably suck, but 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 .. and once you decide to be a lawyer for that hearing before the Queen's Bench (lol) well, you've in front of your eyes a pretty decent picture of the next 3 years of your life!

Queen's Bench?! England?!

Don't forget you've to pay off your student loans!
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N.O.

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Re: Credit Scoring and Private Loans
« Reply #66 on: September 02, 2005, 05:48:17 PM »
Quote
Well, law school may be hard, and if you aim for the top of the class, your life will probably suck, but 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 .. and once you decide to be a lawyer for that hearing before the Queen's Bench (lol) well, you've in front of your eyes a pretty decent picture of the next 3 years of your life!

Queen's Bench?! England?!

Don't forget you've to pay off your student loans!

hahaha
ew!

F12

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Re: Credit Scoring and Private Loans
« Reply #67 on: September 11, 2005, 10:41:47 PM »

Queen's Bench?! England?!

Don't forget you've to pay off your student loans!

hahaha
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You think the concern to pay off your student loans is funny?
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truthexperiments

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Re: Credit Scoring and Private Loans
« Reply #68 on: October 10, 2005, 02:44:27 PM »

macarena

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Re: Credit Scoring and Private Loans
« Reply #69 on: December 21, 2005, 07:52:41 AM »

Queen's Bench?! England?!

Don't forget you've to pay off your student loans!

hahaha
Quote

You think the concern to pay off your student loans is funny?

I don't think the "hahaha" remark was sarcastic, F12.