I applied for my student loans by myself and was denied =*(... I now know what my credit looks like so I am not so suprised...

I applied with a co-signer and was denied again!!!!!!!!!!! $#&@*$#$!!!

I am confused and ticked off by this. My cosigner has a credit score of 770 and meets all other requirements for the loan, would they still turn me down because of my credit?

I have already started writting a reconsideration letter ... I will post is as I finish for some advice... but in the mean time if anyone can help explain why I would still be denied with such a good cosigner?
Thanks...

Did the denial letter state why? (Generalities or specifics?)

did it via online... when I did it myself (no cosigner) the letter stated severalthings including a progit and loss chargeoff (verizon but did not say verizon)
said level of delinquency on accounts etc....
but my cosigner is perfect... there are zero issies on her trade lines....

a small follow up question if anyone has any suggestions...

would I be better off walking into a bank and applying for the loan? Could it actually make a difference, ir is it the same thing of better if I do it online? I only have a choice of three banks... Wachovia bank of america and Citizens bank. Wachovia had the best rates for the loan and deferment... but would I be better off applying to one of the other banks? Thanks in advance for the help/advice...

This is the letter I have come up with so far... any input please?


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To whom it may concern:

I am writing this letter for the purpose of reconsideration of my loan for XYZ School of Medicine. Over the past several years, while completing the requirements for entrance into medical school, I have studied very hard. I have had several family hardships while enrolled full time in college. Family illness and deaths have taken much time away from not only school, but my ability to correctly manage debts.
Oer the past serveral years I have worked with my creditors in a responsible fashion to live up to all responsabilities I have. I worked with credit card companies such as MBNA and Discover, in order to pay them as agreed. In the specific interest of MBNA I was instructed that I could not make monthly payments over time and was instead offered the opportunity to pay them a lump sum for satisfaction of the account. With regards to Discover, they instructed me that I could in fact make monthly payments in order to amicably complete my business with them. Still I have a working relationship with them and have been consistently paying them as agreed for appoximitely four years now. I understand that my loan is credit based and ask that my history be overlooked in so far as I have worked wtith my creditors in order to fulfill my contractual obligations. Luckily I have had the opportunity to work with several creditors who have understood my situation, realizing that events sometimes lead to unwanted results.

As my credit report states I have a charge off from verizon wireless. This is in dispute. I have paid them this debt several years ago and they claim I have not. I spoke with them on the phone several years ago and they told me they would accept that I payed it and stop trying to collect. I, in fact, had no idea that this was still on my credit report until recently when I was denied for this loan.
As I have stated I have made every attempt to live up to my debts in a cival and responsible way and I ask that this be noted in my reconsideration.

After my loan denial, I re-applied with Ms. ABC DEFG who has an excellent credit history. She has always made her payments on time and has been employed for well over the two year minimum required for this process. She is a respsonsable young woman who not only understands the responability of being a co-signer, but recognizes the importance of my recieving this loan.
I understand that my credit history is not perfect, however I am dedicated to repaying the money I need to borrow in order to pay for my education. I understand that the money I am boring will be charged interest and I am very appreciateive of the reconsideration of my application. I have tried to tally up to the best of my ability the costs associated with attending the school. I will use any extra finances for the following semesters bills, if any are left over from the loan. I have estimated the following by speaking to prior students, school officials, calling and searching the internet for the best possible deals.
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okay, so thats what I have so far. I know my grammer sucks and the spelling has not been corrected yet... I am still writting it, but need a break. Any input is definitely appreciated. Thanks in advance to anyone and everyone who has helped me in any part of CB...