Received non-certified loan

[ErinKG]

I just wanted to post that I just received my $30k non-certified loan funds today from BofA. I applied a few weeks ago with a cosigner (my husband) and was approved after a few days (DH has a fraud alert on his credit reports so it slowed the process down a bit). I kind of sat on the application for a week or so and faxed it in early last week with my tuition bill and DH's paycheck. They disbursed the funds on Friday and I received the check today. Very, very fast turnaround. If you need extra money on top of your certified loans (or you need money prior to classes starting), this is definitely the way to go. I have heard horror stories about Bank One making the check out to the school, giving applicants a hard time about proof of enrollment, etc. I didn't run into any of that with BofA.

Oh, and I received the full $30k - the fees (6.5% - ouch!) are added on to the total owed.

Erin

[michael23]

Do you have the link to where I can apply for that. I was approved with Bank One and have been sitting on a promissary note with htme for like a week. They have a 9.5% origination fee which is crazy. I have a 690  credit score. If you don't mind sharing what score did you need to qualify?

[ErinKG]

It's at www.educationmaximizer.com

My score was probably a bit lower than yours, but my cosigners was over 700. I believe that the fee was based on his score.

Erin

[michael23]

Thanks...applied on my own....I'll let you know what happens

[michael23]

Well I applied and was approved for the same exact thing that Education One offered me. I noticed the web address to view my approval for both was through teri.org. I am not sure who they are but it seems likely they may be the ones that approve or deny and then the londer you applied through simply funds it. Seems kinda wierd. anyone know anything about this?