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Author Topic: Private Law School Loans for Fair to Good Credit Scorers?  (Read 607 times)

NYC12

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Private Law School Loans for Fair to Good Credit Scorers?
« on: April 18, 2006, 10:55:17 AM »
Hi,

I've been working over the last two years to improve my credit score and have had a lot of success in repairing the harm done my youthful indiscretions.  A couple of items still appear on my credit report - namely a default on US. Dept. of Ed loan. My credit score is now 680.

I am trying to get the money together to attend law school in the fall and have been turned down by the Access Group, Sallie Mae, and Citibank - they require a cosigner. A cosigner is not really an option for me - does anyone have any recommendations? Any other lending instituitions out there that would give me a loan?

icf

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Re: Private Law School Loans for Fair to Good Credit Scorers?
« Reply #1 on: April 20, 2006, 11:38:15 AM »
you're not interested in going the Grad PLUS route?

NYC12

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Re: Private Law School Loans for Fair to Good Credit Scorers?
« Reply #2 on: April 24, 2006, 01:58:21 PM »
My understanding is that you have to be "selected" for that program - is this correct?

icf

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Re: Private Law School Loans for Fair to Good Credit Scorers?
« Reply #3 on: April 24, 2006, 03:33:34 PM »
hmm, i'm not sure what you mean by "selected."  did you already get your financial aid packet?  i think that you have to have filed a fafsa (so if you haven't done that, then maybe this isn't an option for you anymore), but i'm sure that there isn't a financial need requirement or anything like that (as opposed to perkins/stafford which is based on your efc). 

as far as i know, it's similar to a private loan in the sense that there isn't a cap to the amount of money you can take out (as long as it doesn't exceed your school's law student budget) and i think they have more lenient credit requirements.  almost all the big name lenders offer them now, so maybe you can try applying for one.

good luck!

http://www.nationaled.net/grad_plus_faq.asp