My plans have hit a minor snag in that, I thought law schools and lenders were happy to let you get in as much debt as you pleased, so they would be able to collect more fees and interest from you in the end. I just recently discovered that there is some kind of federal law which prohibits schools from allowing you to borrow more than the school's stated Cost of Attendance. Does anyone know of any way to get loans where they pay you directly instead of going through the school, AND also allow you to pay the debt after you graduate like a regular educational loan? I am trying to buy a car on my own without going to my family for money, but that is seeming less and less possible unless some other option opens up.
Nevermind. I found the answers to my prayers. My friend took out a loan where they paid him directly (not through the school) AND they let him pay it off after graduation. Here is the link for anyone in a similar predicament:http://www.chasestudentloans.com/student-loans/private-education.html
I recently applied for a private loan from Chase. I jumped through all of the hoops, sent in the forms, and received an e-mail this morning stating that my loan was denied. I called and they told me that the school was not on their list of "approved schools." I called the school and they told me that they do not "allow" students to take private loans because they know the students take more than the cost of tuition. Very frustrating, because I am a single mother and the COA is low at my school. Hope this is not the case for you Alphadog.