Hi,
I've been working over the last two years to improve my credit and have had a lot of success, but a couple of items still appear on my credit report - namely a default on US. Dept. of Ed loan. My credit score is 680.
I am trying to get the money together to attend law school in the fall and have been turned down by the Access Group, Sallie Mae, and Citibank - they require a cosigner. A cosigner is not really an option for me - does anyone have any recommendations? Any other lending instituitions out there that would give me a loan?
Full Version: Law School Loan
QUOTE(NYC12 @ Apr 18 2006, 09:39 AM) 
Hi,
I've been working over the last two years to improve my credit and have had a lot of success, but a couple of items still appear on my credit report - namely a default on US. Dept. of Ed loan. My credit score is 680.
I am trying to get the money together to attend law school in the fall and have been turned down by the Access Group, Sallie Mae, and Citibank - they require a cosigner. A cosigner is not really an option for me - does anyone have any recommendations? Any other lending instituitions out there that would give me a loan?
I've been working over the last two years to improve my credit and have had a lot of success, but a couple of items still appear on my credit report - namely a default on US. Dept. of Ed loan. My credit score is 680.
I am trying to get the money together to attend law school in the fall and have been turned down by the Access Group, Sallie Mae, and Citibank - they require a cosigner. A cosigner is not really an option for me - does anyone have any recommendations? Any other lending instituitions out there that would give me a loan?
Have you resolved the default???
Yes, the default has been resolved (paid in full), but the negative tradeline still appears on my report. I've gone to great lengths to try and get the US Dept. of Ed to remove it - even attempted their Ombudsman - but to no avail.
Are there any lending options out there for me without a cosigner? I would assume I would be paying super high interest rates, but that's really the only option I have.
quote name='LynnInMN' date='Apr 18 2006, 10:51 AM' post='1436638']
[quote name='NYC12' post='1436608' date='Apr 18 2006, 09:39 AM']
Hi,
I've been working over the last two years to improve my credit and have had a lot of success, but a couple of items still appear on my credit report - namely a default on US. Dept. of Ed loan. My credit score is 680.
I am trying to get the money together to attend law school in the fall and have been turned down by the Access Group, Sallie Mae, and Citibank - they require a cosigner. A cosigner is not really an option for me - does anyone have any recommendations? Any other lending instituitions out there that would give me a loan?
[/quote]
Have you resolved the default???
[/quote]
Are there any lending options out there for me without a cosigner? I would assume I would be paying super high interest rates, but that's really the only option I have.
quote name='LynnInMN' date='Apr 18 2006, 10:51 AM' post='1436638']
[quote name='NYC12' post='1436608' date='Apr 18 2006, 09:39 AM']
Hi,
I've been working over the last two years to improve my credit and have had a lot of success, but a couple of items still appear on my credit report - namely a default on US. Dept. of Ed loan. My credit score is 680.
I am trying to get the money together to attend law school in the fall and have been turned down by the Access Group, Sallie Mae, and Citibank - they require a cosigner. A cosigner is not really an option for me - does anyone have any recommendations? Any other lending instituitions out there that would give me a loan?
[/quote]
Have you resolved the default???
[/quote]
You won't get it removed. The regs for student loans are such that they are required to report factually. Time will heal. Ombudsman does not get involved with credit reporting.
You do qualfiy for regular FA again. Your score is not bad so you may qualfiy without a co-signer. Call them and ask.
You do qualfiy for regular FA again. Your score is not bad so you may qualfiy without a co-signer. Call them and ask.
I'm getting the full 18,500 Stafford Loan, but I need an additional $24,000. I've applied for loans from Access and Sallie Mae and they advised that I need a co-signer - would it help to call them? What would I say?
It doesn't seem like I would qualify for any other FA - as the the law school I'm attending didn't offer me any - I'm also an older student that made a pretty good salary for the last 5 years.
Any suggestions?
It doesn't seem like I would qualify for any other FA - as the the law school I'm attending didn't offer me any - I'm also an older student that made a pretty good salary for the last 5 years.
Any suggestions?
QUOTE(LynnInMN @ Apr 18 2006, 11:31 AM)
You won't get it removed. The regs for student loans are such that they are required to report factually. Time will heal. Ombudsman does not get involved with credit reporting.
You do qualfiy for regular FA again. Your score is not bad so you may qualfiy without a co-signer. Call them and ask.
You do qualfiy for regular FA again. Your score is not bad so you may qualfiy without a co-signer. Call them and ask.
QUOTE(NYC12 @ Apr 18 2006, 08:44 AM)
I'm getting the full 18,500 Stafford Loan, but I need an additional $24,000. I've applied for loans from Access and Sallie Mae and they advised that I need a co-signer - would it help to call them? What would I say?
It doesn't seem like I would qualify for any other FA - as the the law school I'm attending didn't offer me any - I'm also an older student that made a pretty good salary for the last 5 years.
Any suggestions?
You won't get it removed. The regs for student loans are such that they are required to report factually. Time will heal. Ombudsman does not get involved with credit reporting.
You do qualfiy for regular FA again. Your score is not bad so you may qualfiy without a co-signer. Call them and ask.
It doesn't seem like I would qualify for any other FA - as the the law school I'm attending didn't offer me any - I'm also an older student that made a pretty good salary for the last 5 years.
Any suggestions?
QUOTE(LynnInMN @ Apr 18 2006, 11:31 AM)
You won't get it removed. The regs for student loans are such that they are required to report factually. Time will heal. Ombudsman does not get involved with credit reporting.
You do qualfiy for regular FA again. Your score is not bad so you may qualfiy without a co-signer. Call them and ask.
check out prosper.com there is a discussion on this board under the credit forum.
http://creditboards.com/forums/index.php?showtopic=172931
QUOTE(NYC12 @ Apr 18 2006, 09:39 AM)
Hi,
I've been working over the last two years to improve my credit and have had a lot of success, but a couple of items still appear on my credit report - namely a default on US. Dept. of Ed loan. My credit score is 680.
I am trying to get the money together to attend law school in the fall and have been turned down by the Access Group, Sallie Mae, and Citibank - they require a cosigner. A cosigner is not really an option for me - does anyone have any recommendations? Any other lending instituitions out there that would give me a loan?
I've been working over the last two years to improve my credit and have had a lot of success, but a couple of items still appear on my credit report - namely a default on US. Dept. of Ed loan. My credit score is 680.
I am trying to get the money together to attend law school in the fall and have been turned down by the Access Group, Sallie Mae, and Citibank - they require a cosigner. A cosigner is not really an option for me - does anyone have any recommendations? Any other lending instituitions out there that would give me a loan?
It would help a lot to know the reason why those two companies are rejecting your application. Is it purely due to your defaulted loan? (which if rehabbed correctly, the default status should have been removed. Deliquent marks will remain. ) Or is it because your aren't meeting work history requirements or US citizenship?
I'd probably search for a student lender that specializes in higher credit risk cases. You may have a nasty interest rate tho.
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