Need help

[chachadude]

I need to get a student loan but have been rejected because I have an old credit card that was charged off. If I paid this is there anyway I could possibly be able to get a loan by the middle/end of march? Other than this account, I have one paid charge off from like 7 months ago and then like 5 accounts that are in good standing.

 

I don't know if I can get this off of my report if I pay for it, but I just need the loan very badly.

 

Please let me know if any of you have any suggestions on what I can do.

[snowpuppy]

Most alternative student loans such as Sallie Mae's signature loan will approve you for the loan as long as alll delinquencies are satisified. If they are still showing on your report, they will accept a faxed letter for reconsideration showing that your accounts are now pif or in good standing. You will pay higher rates, tho.

 

Any reason you are not applying for a federally backed student loan? You don't have to be credit worthy for these.

[chachadude]

Well in a masters program at a school that costs $40k per year. I have maxed out of Stafford loans and Perkins for this year which comes out to $23,500.

 

I need to eat so I guess I'll have to take the loans

[snowpuppy]

:shock: Yikes, you do need an additional loan!

 

You can always call the lender and ask what their requirements are to satisfy any negatives before they pull your credit. Ask for for a senior or supv rep in their alternative loan dept. SallieMae usually pulls EQ.

[consumercity]

Does your school have a Graduate Associates Program where you can teach undergrad courses in exchange for tuition?

[chachadude]

they do offer that to a limited extent, but you have to be a PhD student and all that stuff. I am not part of that program so I do no qualify.

 

So loans I must.