blaze1306

"I have a Dream....."
10+ Year Member
5+ Year Member
Mar 1, 2005
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Seminole, Oklahoma
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Pre-Medical
I'm applying next year and already know I'm going to need a private loan to help fill the financial gap for me and my family. What private loans are easier on the credit requirments? I'm working on cleaning up my credit now but I don't think I'll have a cosigner and after looking at the Maximizer loan requirments there is no way I qualify for that. What other loans are out there for medschool freshman with poor credit and no cosigner?
 
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blaze1306

blaze1306

"I have a Dream....."
10+ Year Member
5+ Year Member
Mar 1, 2005
170
0
Seminole, Oklahoma
Status
Pre-Medical
natsipoo said:
That depends. By poor credit do you mean delinquencies? or simply a low score due to high utilisation etc?
some delinquencies and settlements in full.
 
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mshheaddoc

Howdy
Moderator Emeritus
15+ Year Member
Apr 24, 2002
43,161
84
Wild west of Mistytown
Status
Do you know your credit score?

You are doing a great job by cleaning up your credit now. Since you will have a year of "good" credit this might help you alot. With private loans, as long as you are probably above a 600/630 you probably won't need a cosigner (again this can depend GREATLY on the lender) but you're interest rate will be higher. Those with better credit gets you BETTER interest rates. Being in med school you probalby won't have a huge issue getting credit but make sure you have good clean credit over the next year and this will help you out more than you might think. :luck:
 
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blaze1306

blaze1306

"I have a Dream....."
10+ Year Member
5+ Year Member
Mar 1, 2005
170
0
Seminole, Oklahoma
Status
Pre-Medical
mshheaddoc said:
Do you know your credit score?

You are doing a great job by cleaning up your credit now. Since you will have a year of "good" credit this might help you alot. With private loans, as long as you are probably above a 600/630 you probably won't need a cosigner (again this can depend GREATLY on the lender) but you're interest rate will be higher. Those with better credit gets you BETTER interest rates. Being in med school you probalby won't have a huge issue getting credit but make sure you have good clean credit over the next year and this will help you out more than you might think. :luck:
Thanks for the info I requested my credit report yesterday. I'm embarassed I don't know or keep up very much with my credit I hope it isn't to bad.
 
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blaze1306

blaze1306

"I have a Dream....."
10+ Year Member
5+ Year Member
Mar 1, 2005
170
0
Seminole, Oklahoma
Status
Pre-Medical
What are the best ways to start credit? Is it secured credit cards for a few months and then what?
 

mshheaddoc

Howdy
Moderator Emeritus
15+ Year Member
Apr 24, 2002
43,161
84
Wild west of Mistytown
Status
Student credit cards would work, if you can't get those get a secured credit card. I don't like secured credit cards but sometimes that might be where you have to start.
 

the_labrat

Hot Tamale
10+ Year Member
Jul 22, 2006
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35
Fort Collins, CO
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Pre-Pharmacy
I work for TERI who guarantees the Education Maximizer loans. They just raised the credit requirements, but they don't put up the scores anymore :(
 
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blaze1306

blaze1306

"I have a Dream....."
10+ Year Member
5+ Year Member
Mar 1, 2005
170
0
Seminole, Oklahoma
Status
Pre-Medical
the_labrat said:
I work for TERI who guarantees the Education Maximizer loans. They just raised the credit requirements, but they don't put up the scores anymore :(
Thats all I need. I really need to improve my credit score any suggestions?
 
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