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Does anyone know of any non credit based alternative/private loans for med students? That is, where they don't ask to see your credit report. Do such loans exist?
Money Anyone?
- Thread starter COMP Bound
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Why would you want an answer to "Why wouldn't you want a loan company to see your credit report?" 
Do you know of any such loans?
For you sincere folk out there who are merely curious, here is a quote from me in another thread that explains my undergrad experience:
•••quote:••• I was wondering if you guys could help me.
I have all of my Stafford loan eligibility (did not take out any Stafford loans in undergrad). But here's the problem. My credit is in shambles. You see, because I didn't qualify for any federal or state aid in undergrad (I was not yet a U.S. citizen)I had no choice but to use mostly credit cards to pay for my undergrad. This was a last resort. If I had not done it I would not have been able to attend school and would not be where I am today.
But after using all that credit and not being able to jump right into the workforce to start paying it all back because I was applying to med school, I found myself getting behind and now my credit is completely ruined.
••••
Do you know of any such loans?
For you sincere folk out there who are merely curious, here is a quote from me in another thread that explains my undergrad experience:
•••quote:••• I was wondering if you guys could help me.
I have all of my Stafford loan eligibility (did not take out any Stafford loans in undergrad). But here's the problem. My credit is in shambles. You see, because I didn't qualify for any federal or state aid in undergrad (I was not yet a U.S. citizen)I had no choice but to use mostly credit cards to pay for my undergrad. This was a last resort. If I had not done it I would not have been able to attend school and would not be where I am today.
But after using all that credit and not being able to jump right into the workforce to start paying it all back because I was applying to med school, I found myself getting behind and now my credit is completely ruined.
••••
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COMP, I understand your situation. I wish I had a good answer for you. I know that schools often have institutional loans that do not require credit checks but that is all I know about so far.
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Thanks reesie. I'm aware of those but as you probably know you can't count on them.
I'm not sure if this fin. aid forum has caught on yet.... <img border="0" title="" alt="[Frown]" src="frown.gif" />
I'm not sure if this fin. aid forum has caught on yet.... <img border="0" title="" alt="[Frown]" src="frown.gif" />
•••quote:•••Originally posted by COMP Bound:
•
I was wondering if you guys could help me.
I have all of my Stafford loan eligibility (did not take out any Stafford loans in undergrad). But here's the problem. My credit is in shambles. You see, because I didn't qualify for any federal or state aid in undergrad (I was not yet a U.S. citizen)I had no choice but to use mostly credit cards to pay for my undergrad. This was a last resort. If I had not done it I would not have been able to attend school and would not be where I am today.
But after using all that credit and not being able to jump right into the workforce to start paying it all back because I was applying to med school, I found myself getting behind and now my credit is completely ruined.
•••••If you are now a U.S. citizen or permanent resident, you should be able to take out Stafford and Perkins loans, which have nothing whatsoever to do with your credit (i.e. they don't require a credit check). You may even be able to make a special case to your particular school regarding the credit card debt due to previous educational costs, depending on how flexible they are in dealing with extraneous financial circumstances. In the meantime, I'd look at
<a href="http://www.ed.gov/prog_info/SFA/StudentGuide/2002-3/index.html" target="_blank">http://www.ed.gov/prog_info/SFA/StudentGuide/2002-3/index.html</a>
as well as the web pages of the med school(s) you're considering to determine your options for aid.
•
I was wondering if you guys could help me.
I have all of my Stafford loan eligibility (did not take out any Stafford loans in undergrad). But here's the problem. My credit is in shambles. You see, because I didn't qualify for any federal or state aid in undergrad (I was not yet a U.S. citizen)I had no choice but to use mostly credit cards to pay for my undergrad. This was a last resort. If I had not done it I would not have been able to attend school and would not be where I am today.
But after using all that credit and not being able to jump right into the workforce to start paying it all back because I was applying to med school, I found myself getting behind and now my credit is completely ruined.
•••••If you are now a U.S. citizen or permanent resident, you should be able to take out Stafford and Perkins loans, which have nothing whatsoever to do with your credit (i.e. they don't require a credit check). You may even be able to make a special case to your particular school regarding the credit card debt due to previous educational costs, depending on how flexible they are in dealing with extraneous financial circumstances. In the meantime, I'd look at
<a href="http://www.ed.gov/prog_info/SFA/StudentGuide/2002-3/index.html" target="_blank">http://www.ed.gov/prog_info/SFA/StudentGuide/2002-3/index.html</a>
as well as the web pages of the med school(s) you're considering to determine your options for aid.
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To Astrid:
That may be a possibility and I've thought about it and appreciate the suggestion. But I first am wanting to see if I can do this whole thing independantly and then that will come into play.
To Ferm: Thanks for all the apt guidance. I do now have all my Stafford eligibility which for the school I've been accepted to will be sufficient for the first two years but in years 3 & 4 I will a few thousand short, from what I would get from the Stafford.
•••quote:••• You may even be able to make a special case to your particular school regarding the credit card debt due to previous educational costs, depending on how flexible they are in dealing with extraneous financial circumstances. ••••Do you know of anyone who was able to do this?
That may be a possibility and I've thought about it and appreciate the suggestion. But I first am wanting to see if I can do this whole thing independantly and then that will come into play.
To Ferm: Thanks for all the apt guidance. I do now have all my Stafford eligibility which for the school I've been accepted to will be sufficient for the first two years but in years 3 & 4 I will a few thousand short, from what I would get from the Stafford.
•••quote:••• You may even be able to make a special case to your particular school regarding the credit card debt due to previous educational costs, depending on how flexible they are in dealing with extraneous financial circumstances. ••••Do you know of anyone who was able to do this?
