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Author Topic: private loan question  (Read 3084 times)

verbal

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private loan question
« on: September 30, 2006, 11:31:44 PM »
ok i have a question about private loans. If u take out a credit based private loan like the bank of america student maximizer loan, can u only take out to the amount your school estimates costs to be for the year minus other aid or can u take out as much as u want within reason. I already have m school money maxed out but want to take out 5000 more for living for this year and maybe next year.
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verbal

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Re: private loan question
« Reply #1 on: October 02, 2006, 10:23:52 AM »
anyone?
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nyu4ever

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Re: private loan question
« Reply #2 on: October 02, 2006, 07:43:59 PM »
ok i have a question about private loans. If u take out a credit based private loan like the bank of america student maximizer loan, can u only take out to the amount your school estimates costs to be for the year minus other aid or can u take out as much as u want within reason. I already have m school money maxed out but want to take out 5000 more for living for this year and maybe next year.

Why wouldn't you be asking Bank of America this question...

verbal

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Re: private loan question
« Reply #3 on: October 02, 2006, 08:31:02 PM »
ok i did. for the private loans that r not school certified u can take out up to 30,000 a year regardless of what your school says the cost of attendance is. I hope this helps other people.  I will also post who out of bank of america and chase gives the better rate on private loans for u guys when i get my offers.
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verbal

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Re: private loan question
« Reply #4 on: November 06, 2006, 05:21:10 PM »
ok chase and bank of america give exactly the same rate from the same company. no need to apply to both
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mrk

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Re: private loan question
« Reply #5 on: December 18, 2006, 01:27:57 PM »
Just so you know you are not talking to yourself, your post helped me out a lot.  i am in the same situation, need loans to cover other expenses not relating to school. 

Sweetpri

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Re: private loan question
« Reply #6 on: December 18, 2006, 01:57:25 PM »
Me too, I was wondering the exact same thing - starting to freak out about how I would handle my car payments!
Thanks!
University of Toledo 0L

smack

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Re: private loan question
« Reply #7 on: December 19, 2006, 05:32:01 PM »
So I can borrow $30,000 per year in private loans for living expenses?  Even though my school says I should be able to live on $7,500 per year?  My kids are expensive!

queencruella

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Re: private loan question
« Reply #8 on: December 19, 2006, 06:25:16 PM »
Schools typically do not give out more than the student budget allows, per federal regulations for student loans. Most schools are pretty clear about this on their financial aid pages and recommend that students minimize their debt/payments as much as possible prior to entering law school. Car payments, consumer debt, mortgages, etc. will not make you eligible for more money. If you have a family to support, there is often a separate family budget that should give you more money than the single-person budget.

FossilJ

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Re: private loan question
« Reply #9 on: December 26, 2006, 06:32:17 AM »
*shoots self for lack of citizenship*
Pish, J only wants to waste YOUR time.  Get wise.