Private Loan from Chase

[omgseriously]

---

Members do not see this ad.

i found this loan for healthcare education from chase
http://www.chasestudentloans.com/medical/med_priv.htm

anyone have any experience with it?

my question: the site has the loan as private. does this mean i can apply and take out money before my fafsa stuff is processed by the school? (they're conveniently running late this year) going through the loan app, it seems to require some sort of approval by the school? are other private loans like this?

any info would be much appreciated. thank you!

 

[mshheaddoc]

Private loans are routed in with you Cost of Attendance and have to approved by your school so it will take into consideration how much aid you need other than federal aid. I'd make sure that you max out PLUS loans before you hit the private loans. There are a few loans supposedly that allow you more than the cost of attendance but that has been debated on here as apparently different people get different answers.

 

[rgerwin]

There are absolutely above COA loans. They aren't a big mystery, you just have to know where to go for them. Both my husband and i have one.

 

[mshheaddoc]

There are absolutely above COA loans. They aren't a big mystery, you just have to know where to go for them. Both my husband and i have one.

Yet when I have passed info along to others about loans, their schools declined them though. Which lender did you go with?

 

[rgerwin]

myrichuncle is who I used. Chase is another. Sallie mae has one too,, but my school doesnt have a relationship with them. I don't know why. So, the keys are make sure your school works with them, then make sure you are definitely applying for a non-certified loan. Then, it really comes down to your credit. In the credit crunch, the guidlelines have gotten stricter. I think the mins were an average of 620-650 last year, now they are 650-680-ish, depending on the lender.

 

[rgerwin]

BOA stopped theirs recently. They were a big one.

 

[prionsRbad]

myrichuncle is who I used. Chase is another. Sallie mae has one too,, but my school doesnt have a relationship with them. I don't know why. So, the keys are make sure your school works with them, then make sure you are definitely applying for a non-certified loan. Then, it really comes down to your credit. In the credit crunch, the guidlelines have gotten stricter. I think the mins were an average of 620-650 last year, now they are 650-680-ish, depending on the lender.

So, I've been looking into getting a private loan also, as I need more money than my COA. With an un-certified loan you still have to send them proof of enrollment, such as a class registration letter, etc.

My question is do I just have to wait until I start school before I apply for a private loan, since they need proof of enrollment? My schools financial aid office "can't know about" the private loan or they will deduct it from my COA and my federal loans.

What do I need to do?
Thanks. 🙂

 

[rgerwin]

nope, you can get them before school starts. Just send them your acceptance letter, or some other proof. they may not give it to you outside of 90 days prior to school starting. The money comes to you, no one else.

 

[prionsRbad]

nope, you can get them before school starts. Just send them your acceptance letter, or some other proof. they may not give it to you outside of 90 days prior to school starting. The money comes to you, no one else.

Thanks soo much! I'm assuming that my rich uncle let you send your acceptance letter as proof of enrollment? I'll go with them if that's the case. I spoke with Wells Fargo and they required a tuition payment receipt or a current class schedule. 👎

Man, I really need this extra money so I hope everything works out! 🙂

 

[Powdermonkey]

nope, you can get them before school starts. Just send them your acceptance letter, or some other proof. they may not give it to you outside of 90 days prior to school starting. The money comes to you, no one else.

What else can you use if they wont take the acceptance letter? Cause Prions and I are going to the same school so we've been talking about this all and she said yesterday one of the lenders we were looking at for an uncertified loan needs something more than just an acceptance letter.

Any ideas?

Oh, and i just talked to myrichuncle and they said that an acceptance letter as well as a proof of enrollment letter is needed to verify enrollment. So how do i go about getting a proof of enrollment letter from the school without them being like... wtf? and asking me why?

 

[rgerwin]

So, I just checked my records. I sent them my tuition bill as well. B/c the problem is, you could have an acceptance letter and not actually go. I'm assuming they'll give you a bill before you start, b/c they will sure want to get paid.

 

[prionsRbad]

So, I just checked my records. I sent them my tuition bill as well. B/c the problem is, you could have an acceptance letter and not actually go. I'm assuming they'll give you a bill before you start, b/c they will sure want to get paid.

I've never wanted to get a bill so badly in all my life! 😉

 

[da me ka don]

👍
Me too...I am furiously checking my mail.....
Conditionally approved by my rich uncle. I wish I had one...or better a suga daddi