Financial Problem Prior to Matriculation to Dental School

[Lord.Buddha]

Hello Dental Students,

I have a situation. Please help. So I am applying to dental schools this cycle and I has been accepted. I have no financial support from family. Throughout college, I have been using my credit cards to pay for living expenses, and tuition. I am unable to pay the payments on time, and one of my account with Bank Of America has been placed into Collection with a third party company.

Does anyone know if I can get student loans for 4 years in dental school if I have debt in collection? If not, does that mean I have to give up dental school because I can not get student loans for dental school since I have debt and it is in collection?

Please input your idea and suggestion regarding on my case. This concerns me a lots. I appreciate your input! Thank you.

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[KillaCam]

As long as your loan is not an educational loan that is in collections (which could affect your FAFSA) you will be fine. I was in similar situation 6 years ago, I was fine.

Your bank CC won't affect your FAFSA so you'll be fine. Relax and just settle with collections, get ready for dental school. As far as GradPLUS loans go, they will run a quick credit check before allowing you to use this. All you will need is a co-signer, use a parent, you'll be fine. After one year your credit may improve enough to allow you to get the GradPLUS independently. If not, use your parents as a cosigner for this loan as long as you need to.

Don't listen to those other clowns in the pre-dental forum about responsibility and **** like that either. Clowns will be clowns.

 

[whaleofatale]

Hello Dental Students,

I have a situation. Please help. So I am applying to dental schools this cycle and I has been accepted. I have no financial support from family. Throughout college, I have been using my credit cards to pay for living expenses, and tuition. I am unable to pay the payments on time, and one of my account with Bank Of America has been placed into Collection with a third party company.

Does anyone know if I can get student loans for 4 years in dental school if I have debt in collection? If not, does that mean I have to give up dental school because I can not get student loans for dental school since I have debt and it is in collection?

Please input your idea and suggestion regarding on my case. This concerns me a lots. I appreciate your input! Thank you.

Depending on the amount of debt you have in collections and how far past due it is, it is highly likely that you will be credit declined for the Grad PLUS Loan. Keep in mind that the annual max for the Direct Unsubsidized Loan is between $40,500 - $47,167, so if you need more than that each year you will need a co-signer.