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Thread: School loans

  1. #1
    The Bag Star daniellelynn's Avatar
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    Angry School loans

    How does a bank pull out from being a schools lender? Seriously? I was suppose to start school on May 5th... and now due to the stupid bank, I can't start until the fall... wtf? Im so mad... Has this ever happened to anyone, or am I the only lucky one that gets to go through this?


  2. #2
    Moderator and Blogger boysRsmelly's Avatar
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    Default Re: School loans

    Wait... the bank was a preferred lender for the school and now they no longer want to be affiliated with the school? I've never heard of this happening... but my student loans are through US Bank. ::shrugs::
    Did you already have the loan all set up and everything prior to this? Perhaps you can talk to someone in the financial aid office to see if there is another bank you can try. If you have a cosigner, then there shouldn't be any problem getting a loan before May 5th.

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    Default Re: School loans

    What about a private loan thru Chase or something just to get u started? You can always consolidate later on

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    Moderator and Blogger boysRsmelly's Avatar
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    Default Re: School loans

    ^^^ Yeah, that's what I meant. LOL! I ramble a lot don't I?

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    Default Re: School loans

    I get crap in the mail all the time for loans and I have been out of school 3 years...

    Go to Chase Personal Banking Investments Credit Cards Student Loans Home Auto Commercial Small Business Insurance and see what's out there

    Lenders like student loans because they are about the only unsecured debt that cannot be discharged in bankruptcy... So they know they will get their money...

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    The Bag Star daniellelynn's Avatar
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    Default Re: School loans

    Do those loans have to be paid monthly though or can you do it where you dont pay until you graduate? Sorry... I'm new with all of this

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    Rising Bag Star loveguinness's Avatar
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    Default Re: School loans

    you dont go into repayment for a few months. then you have about 6 months grace period and then you start paying

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    Default Re: School loans

    Quote Originally Posted by daniellelynn View Post
    Do those loans have to be paid monthly though or can you do it where you dont pay until you graduate? Sorry... I'm new with all of this
    Depends on what you negotiate. You can defer pymt until you graduate

    Make sure you understand what you are signing before you sign it- your loan officer will help

  9. #9
    The Bag Star daniellelynn's Avatar
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    Default Re: School loans

    Yeah... It pretty much all depends on what my parents wanna do since they have to co-sign any loan I get.
    Thanks for the help though... :)

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    Default Re: School loans

    you could prob get a loan on your own, but the interest rate would be astronomical...

    does your school have a payment plan? Some have monthly payments with a small (usually around $50) ... may make coming up with the $$ more reasonable.

  11. #11
    The Bag Star daniellelynn's Avatar
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    Default Re: School loans

    The payments for my school are almost 1000$ a month... Since I only have to go to school for 15 months. I did a lot of research today & talked to the school. Basically, I have to wait until my school gets a new lender. (Hopefully soon!)

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    Default Re: School loans

    What kind of school are you going to? Is it a private college or a public university or is it a trade school of sorts? Just sounds weird that a bank would pull out to me.

  13. #13
    The Bag Star daniellelynn's Avatar
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    Default Re: School loans

    I'm going to cosmotology school... Apparently though all like, vocational schools in Ohio had their lenders leave them last week. It really sucks.

    I am meeting with someone next week to discuss going to school part time, so I can work full time to cover my living expenses, and starting asap... They said today as long as I dont need money for living expenses I will be able to start soon.

    Thanks again for the help everyone

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