private lenders?

[neilc]

i need a private loan for med school. i currently get my max on staffords (18,500, and for the last year and a half, costs have gone up a bit, and i have residency apps and interviews. so, basically, i need to find $10-15000 soon.

 

my credit scores suck, currently working on them. they are around and just under 600 FICO. but, i do have my parents with impeccable credit willing to cosign this loan.

 

the only option i know of is TERI, because of my international status. but, i am pretty sure that i won't qualify, even with a strong cosigner. any ideas of where i can generate these funds? even if it is not a student loan, as i will be able to make some payments while i am in school if absolutely required.

 

thanks!

[snowpuppy]

I'm not sure what you mean by 'international status'. If you are here on a non immigrant status such as an F-1 you wouldn't be eligible for Stafford loans. If you are a permanent resident/conditional resident you would qualify for Terri. If your parents have to cosign, they also have to be permanent/conditional residents. Copy of your I-551 is required to be attached to your application.

[neilc]

sorry, i should have been more clear. i am an american citizen, as are my parents, but i attend a school in europe...so, i just need a lender that would approve the international status of my school. sorry for the confusion!

[snowpuppy]

After 9/11 I think more lenders are becoming cautious sending their funds overseas. Have you talked to Terri directly to see if your would be eligible?

 

SallieMae also has alternative signature loans. You can give them a call to see if your program would be eligible. SallieMae generally pulls EQ and the interest rate you pay is based on your credit. They will accept a cosigner.

 

Is this a consortium or study abroad program where your school here in the US has partnerned with the European school? That might be helpful info for your lender as your funds would be sent to your school here in the US and they would be responsible for getting your refund check to you.

[jc]

Neilc

 

You would qualify for several "Residency & Relocation" loans with your parents co-signing. There are alot out there - do a google search for this type of loan. Nellie Mae and Sallie Mae actually offer their own. I believe Sallie Mae's goes through Chase/Education First. Check into Residency XPress, because they deal with foreign students who are U.S. Citizens. Also check into NorthStar. Your first stop should be Residency Xpress though, and after that, I'd just google for residency loans. Good Luck.

 

jc