I do not have anyone to cosign for me, and am not eligible for financial aid. Can anyone tell me if there are some companies which give student loan for bad credit. I don't mind the interest rate because it's my last semester, so I probably will not borrow more than 15,000 total. I already tried with Upromise and was denied. Thanks
2007-11-09 06:23:08 · 4 answers · asked by Kimberly 1 in Education & Reference ➔ Financial Aid
I would start with the financial aid department at the school you are going to or interested in. They can give you applications for the major student loan companies.
Also, a credit score of 620 is not very low. It is about average actually.
2007-11-09 06:27:29 · answer #1 · answered by A.Mercer 7 · 0⤊ 0⤋
If your friend's parents can't co-sign, this doesn't speak well at all for either their credit or hers. That alone should send out big-time warning bells that maybe she's not that good of a credit risk. Student loans become payable once a person quits or finishes school. Say 4 years from now your friend graduates, can't find a job, gets killed in a wreck, or marries some guy from Istanbul. You are stuck with 10 years of student loan payments which you MUST pay or risk having your credit damaged and wages garnished by the Feds. Cosigning also diminishes your own ability to get a loan. When you apply for a car loan, student loan of your own, or even a mortgage, your banker will count that student loan against you ~ because, if your friends defaults, you will be picking up the payments.
2016-05-28 23:26:02 · answer #2 · answered by julianne 3 · 0⤊ 0⤋
You should to a financial aid counselor at your school. They should be able to help you. Also, a credit score of 620 is not bad. Good luck!!
2007-11-09 06:31:35 · answer #3 · answered by Anonymous · 0⤊ 0⤋
go to DIRECT LOANS.............
My CS was crap and I got funded every year I was in school, to the tune of $77K
2007-11-09 06:31:07 · answer #4 · answered by always remember 3 · 0⤊ 0⤋