Emergency Loans?

[chameleonknight]

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Hey,

The Finanical Aid office at my school is dazed and confused to say the least, and told some people that they may not have their refund money until October. Which is bad news for those of us who were planning on paying rent and eating during August and September.

Does anyone here have experience with getting short term emergency student loans? Which lender did you go with? Did you have any trouble acquiring them or did you need a cosigner? How much did you take it? Was the interest reasonable?

I didn't see any threads on this topic, but if there are feel free to redirect me.

Thanks,

Broke in LA

 

[Doctor Bagel]

I thought emergency loans were usually offered through the school, which makes the situation doubly troublesome for you -- btw, I can't believe your school would do that to students. Bank of America has a maximizer loan that does not have to be school certified. Also, can you find one of those 0% interest for x many months credit card deals? I'd recommend trying to milk one of those cards for every cent until your school loans come through. Hell, you might even get some rewards for putting so much money on your card. 🙂

 

[heech]

Hi there,

"Emergency loans" are exactly what you could use Prosper for. Based on your status as a current medical student (with guaranteed funding in a few months), you should be able to get a pretty attractive rate from Prosper.

You can get your funds in a week or two, and fees are minimal (1%) compared to just about any other commercial lender. And there are no prepayment penalties... whenever you have money, pay off the loan.

Take a look at my blog below for more.