Anyone have ANY suggestions, advice or guidance.

I need financial aid ASAP. Federal Loans won't be enough to cover my tuition, room/board, books, etc...
I was denied by both Teri & MedAchiever... I called them both...
the reasoning.

In early 2002 I had a voluntary repossession of my automobile. After challenging the account it was removed from my credit for a little while...Then last year I discovered that the original creditor had sold the account and the put it back on. Since then I've had them validate the account - AND THEY DID, and I've challenged it over an over, personally and through 2 credit repair companies...

The other bad mark is from a homestudy program in 2000 that I didn't want, keep or finish paying for. They too have verified the account after countless times of challenging.

If I can't get the loans - I can't go to school... They said that even if I pay them that won't be good enough because they are hurting my score and they are still showing on my credit meaning that they were valid accounts.

Can anyone suggest anything...

Thanks,

I feel your pain, because I plan on starting med school next year and my credit score is like 566. What was your score, if you don't mnd? I ask b/c I was thinking of applying throu Teri and MedAchiever. If you live in IL, I can tell you of a lender that will work with you. Also try nationaleducation.com- Plse let me know.Thanks, and good luck!!!!

starving

You may also want to try PLATO loans. From what I have heard, they are about the most flexible of the private student loan lenders. The rates will be high, though I can't tell you how high.

Good luck


fla-tan

claudette737
My credit score was 600 (middle score)...What med school are you applying to? I applied to UNIBE in the Dominican Republic. They have Stafford Loans too.

Fla-tan
Thanks for the PLATO information. I will check them out ASAP.

I haven't applied yet-I will apply next year in the USA and caribbean schools. Was it the International Student Loan Program (ISLP) at TERI that declined you? Please keep me updated on what happens with PLATO, becuae I will be in the same boat as you come next year!

Have you tried Sallie Mae (Signature loan)? I've heard they will approve you as long as you have proof of paying any collection accounts, and have a credit score of at least 640 on Equifax. Also, not sure if this is the place that denied you, but try: http://www.iefc.com/med-list.php?livCT_ID=...01&Name=MedList

Try both, and let me know the outcome!Again, all the best!!!

I called about PLATO loans and they told me that they don't approve international schools, only US schools! I will try Sallie Mae next.

#$%!
My school only uses Sallie Mae for Stafford and Parent Loans #$@&

That's ridiculous-your school doesn't seem very helpful. If they use sallie mae for the other loans, why can't they let you use it for the private? I would explain the situation to them, and say, "look, this is the only lender I can use". Sallie mae is very well known! In the meantime, work on fixing your credit!Keep us posted!

I'm curious - what program are you entering into?

As of right now, Pharmacy/Dental/Medical students qualify for $35,167 per year in Stafford loans...

Now, even my private pharmacy school tuition isn't that much, so I'm just curious what program you're entering into that won't cover education expenses.

Of coruse, I understand if you're having a shortfall on the residential expenses, but you might hafta wing it with employment like me Of course, PharmD interns make a lot more money than MD/DO students, so I dunno what else to tell you other than obtain a co-signer...

Also this is almost true:

No baddies within 2 years, EQ score preferrably above 660, BK must be at least 3 yrs old, minimum income of $25k/yr on $8k signature loan.

I just checked my SallieMae, today I owe $93k...

and another $31k to go...

ugh

Joe,
I noticed your EQ FICO is below the 660 you mentioned that salliemae wants. Did you have a cosigner? Also, where did you get the income requirement for an 8K signature loan? Most medical students don't work at all, I hope this income requirement doesn't apply in such situations. BTW, the poriginal poster said he/she is attending school in Domican Republic, and the Stafford loan isn't available there.

Indeed - my FICO is well below 660... LOL

Mommy bailed me out Her income qualified just enough to get the supplemental Signature loan, but no more. We reapplied again and she was denied - higher FICO and evrything this second time around; cited that her income was too low (listed $34k/yr). Sallie Mae sucks.

On the contrary - most of the medical students I know work 10 - 15 hrs. per week, but we're a private institution and it costs quite a bit of $ to go there, so you kinda have to. Other students are fortunate enough to be married, and have that secondary income coming in. Others live on campus and roll it into their tuition, but it costs just the same to have an off-campus apt. ($800/mo).

I didn't catch the Dominican Repub thing - bad times No idea that Stafford wasn't OK'd there.

I'm surprised with all the subprime lending options available for cars/homes/CC's/etc. that there isn't a subprime student loan program avail. Granted, the lending risk is higher, but socially-speaking, education is a much better investment than a used car.

... AND THE DEBT CAN'T BE DISCHARGED IN BANKRUPTCY!

or can it?

If it's a credit-based private loan, I would say yes.

I've seen talk of folks stating otherwise, but there was no clearly drawn concensus, so my educated guess it that if it's not federally-backed, then it can be flushed

From what I heard Sallie Mae has a private granting loan program and they pull TU -I am trying to pay for law school and the scholl I am attendign does not qualify for title IV; hence I will have to fork 7G a year for my tuition - the extra sad part is that I will have to continue to work like a dog and just to make ends meet!
My scores are 645- EQ 611-EX and 579 TU and this is still not enough so good luck

FYI...private loans that are backed by a non profit, which TERI is, cannot be discharged in BK.