Medical School Loans

[Jbarbour]

I'm a premed student who will soon be applying to medical school. Both of my parents have bad credit and will not be able to co sign for a loan. With that said, how do I go about getting accepted for medical school loans on my own? I don't know how far building my own credit will go. It would be great to know what my options are. If anyone can offer advice that would be greatly appreciated.

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[baskintheglow]

Wait till you get in. Counting chicken's before they hatch and what not. If you really care that much about credit get a credit card and buy gas with it every month and pay off the full amount at the end of the month.

 

[nm825]

I'm a premed student who will soon be applying to medical school. Both of my parents have bad credit and will not be able to co sign for a loan. With that said, how do I go about getting accepted for medical school loans on my own? I don't know how far building my own credit will go. It would be great to know what my options are. If anyone can offer advice that would be greatly appreciated.

The unsubsidized stafford loans you get don't check credit, and the GradPLUS loans you take out to cover the rest only check to see that you don't have any delinquent debts totalling over $2000 90 days past due and that you don't have any bankruptcies, tax liens, debt write-offs, or debts in collection.

 

[LabMonster]

And should you matriculate - borrow the BARE minimum. Public or Private.

 

[Labkid]

Wait till you get in. Counting chicken's before they hatch and what not. If you really care that much about credit get a credit card and buy gas with it every month and pay off the full amount at the end of the month.

This is exactly what I did.

Get yourself a Discover card for students. They will probably give you around $500 credit line. Put a debit card to automatically make payments from or just be vigilant with cash/check payments at least 10 days before it is due.

In two years you can easily build up a score 700+ and Discover will regularly grant you increases.

You probably wont use it for medical school loans but it will be incredibly useful to have excellent credit history after school.