Law School Discussion

private loan question


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private loan question
« on: July 01, 2004, 08:00:47 PM »
so when my school sent me my financial aid offer, they budgeted me 6300 for a private loan.  i applied for one with access group, but i asked for 9k instead, because i need to cover security deposit, moving, etc.  is this going to cause a problem?  will my loan be rejected, will i have to apply again and not get my money until too late?  or will they just approve the amount they said they would?

Re: private loan question
« Reply #1 on: July 01, 2004, 09:05:08 PM »
My understanding is that you can only apply for the amount the school says through some lenders as that is all the school will certify you for.  You can get additional loans, but the company may or may not give them to you since the school won't certify it.  You should call the financial aid office to find out what the school's policy is in regards to private loans.


Re: private loan question
« Reply #2 on: July 02, 2004, 11:00:50 PM »
Most schools will certify additional funds to cover moving costs, but you need to get approved by the school first.  If you do not get approved for additional loans by the school, the lender can only let you borrow what the school will certify (6300).