Alternative Financial Aid

[Fizzy]

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I'm wondering if anyone else is in the same situation. Are there financial aid options for a person who has bad credit and can not obtain a co-signer for a loan? Is it still possible to obtain loan monies for DO or MD schools for a person with bad credit history?

 

[ekydrd]

I'm wondering if anyone else is in the same situation. Are there financial aid options for a person who has bad credit and can not obtain a co-signer for a loan? Is it still possible to obtain loan monies for DO or MD schools for a person with bad credit history?

absolutely... they are called Stafford loans. I am s/p divorce with credit now in the shyter thanks to the ex-hubby. Was able to get all the money I needed via government loans, a few sundry scholarships, and long term university loans while in medical school. Of course the money ain't much and you'll be eatin' a lot of mac and cheese and PB&J but it'll get you through.

 

[Non-TradTulsa]

I'm wondering if anyone else is in the same situation. Are there financial aid options for a person who has bad credit and can not obtain a co-signer for a loan? Is it still possible to obtain loan monies for DO or MD schools for a person with bad credit history?

Financial aid for medical school is a complicated beast that takes a while to master - you might want to spend some time in the financial aid forum. Federal Stafford loans are not dependent on your credit, unless you are in default of a prior student loan and have not made payment arrangements. For amounts over $38.5K/year (which nearly all of us need these days), the GRADLOANS program was created as an alternative to credit-based private loans. I've forgotten the details of GRADLOANS off the top of my head, but the credit standards for getting one are pretty relaxed - if you're not 90 days delinquent on anything, you're pretty much good to go, as I recall. Bad credit used to be a show-stopper for people who needed private loans, but I believe GRADLOANS was created to help fix this problem. Good luck.