Im trying to find a loan that I can get to pay for a new laptop, and living expenses for school. The catch is every school loan I apply for I get rejected because I have no credit, and no co-signer. Has anyone in my position found a place that will approve a personal school loan?
2007-01-02 13:06:34 · 5 answers · asked by jp23 1 in Education & Reference ➔ Financial Aid
I'm in the same predicament as well! Unfortunately, the only loans that do not check credit are the Stafford loan and Pell grant. I know because I have very bad credit because I haven't been paying my credit cards for the last year or so and I applied for those and still got them (without a cosigner). I am trying to find another type of loan that doesn't do credit check, but my Financial aid counselor told me, my only other choice is to find a cosigner.
EVEN if you do find a loan that you are approved for without a cosigner (and if you do, be sure to tell me!), you still have to find out what your school disbursement plans are. Some schools will keep that money (they will use it for future tuitions and etc) instead of giving refunds directly towards you. Other schools will let give the funds to you directly but at a certain date like 5 weeks after the start of the semester (that's how it with my school).
If you have a job, I suggest opening a checking acct. at a bank and getting a student credit card there. Who cares if you'll only have $5 in the bank? As long as its not negative. You'll get a low limit on the credit card, probably no more than $300 or $500. BE CAREFUL WITH IT! That is the start of your credit. Use it wisely, pay it on time, pay at least the minimum amount. You'll build your credit from there. But be cautious and I know how college students are always broke, so don't go using it all the time just because you're low on money....
2007-01-04 18:59:17 · answer #1 · answered by LadyK 2 · 0⤊ 0⤋
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2016-09-28 15:55:37 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Assuming you live in the USA, you may qualify for a Stafford loan. See the link below. They are federally guaranteed and usually go to people with no credit ratings.
2007-01-02 13:19:11 · answer #3 · answered by Computer Guy 7 · 0⤊ 0⤋
fafsa..grants and loans. these loans do not require credit check or co signer.. ur fa office can tell you which is the best lender to use..Sallie Mae is one but once your out of school the interest rate jumps to about 12%..most schools stay at 6-7% and will consolidate together..Sallie Mae will not consolidate loans..
2007-01-02 13:32:39 · answer #4 · answered by chilover 7 · 0⤊ 0⤋
go to ur school they have loans for students to do wat ever they need to pay for school expenses and a lab top is called school suppies!!!!
2007-01-02 13:44:58 · answer #5 · answered by Lil Aquarius 3207 2 · 0⤊ 0⤋