Securing a loan for MSF
I'm very afraid I won't be able to secure a loan for an MSF (WUSTL, Vandy, Nova). My parents won't co sign. I graduated in '09 and have worked unpaid the whole time so I don't have a salary history or much of a credit history. Plus, I still have a little outsanding from undergrad loans. I'm current on it, but finding the money to pay the loan every month is tough.
Will I be able to get a loan? How? I know a few major commercial banks partner with some MSF programs. Could this be an option? Sallie Mae probably won't help me out since I almost went into default early on.
Fed loans are automatic. Grad plus loans don't look at your credit too hard. Apply now and take the money when you start school. Trust me, financial aid office sucks hard core. You want all this don't before hand.
Thanks Anthony. Could you clarify that last part about the financial aid office and "don't want all this before hand"?
By "automatic", are you saying I have a good to great shot at fed loans? What about private?
Thanks.
The government would love to loan you money, have no fear about that. Private loans will be easy, as well, unless your credit's really shitty in which case there's still plenty of predatory lenders that would love to own you, I mean loan you money.
myrichuncle.com
Fed stafford loans are guaranteed. Grad plus loans run a credit check, but it is weak. You can never discharge student loan debt so they really don't care how messed up your credit is.
Financial aid office at Nova sucks. Just get your shit done early and you will be fine.
Thanks guys. Looks like there might be a limit to the stafford amount, on first glance. Gonna go do my homework now. Thanks.
Loan for recent grad pursing a MSF (Originally Posted: 09/26/2013)
What do you guys think about http://www.staffordloan.com and the 3.9% interest
You will need to take out a Graduate Stafford Loan. You aren't considered a dependent anymore, so you are not eligible for Undergraduate Stafford Loans. The Graduate rate is 5.41% APR. With that said, government loans are pretty much the cheapest that you will be able to get.
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