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Private Loan Questions (non-certified by school)

Discussion in 'Financial Aid' started by MDizzy, Apr 13, 2007.

  1. MDizzy

    2+ Year Member

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    I found a lending site for a private loan for health professionals at:

    www.educatedborrower.com

    Here are the key points of what I found out so far

    1) Borrow up to $60,000 per year
    2) repayment up to 20 years
    3) variable interest rate depending on creditworthyness
    4) If you use co-signer, you don't need to show your own income
    5) not certified by school so you can get this loan on top of your staffords

    Is there anything I am missing? The other places I found only allowed you to borrow 25,000 - 40,000.

    Thanks in advance.
     
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  3. njbmd

    njbmd Guest
    Moderator Emeritus 5+ Year Member

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    Moving to Financial Aid where you can get experienced advice for your question.
     
  4. MDizzy

    2+ Year Member

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    any chance this could be moved back to pre-allo so i can get a response? I need to do the paperwork soon and I'd like some meaningful input.
     
  5. mshheaddoc

    mshheaddoc Howdy
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    What exactly are you looking for? And why would you need more than $20-$40K or so with the maximum stafford?
     
  6. MDizzy

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    I'm looking for any loopholes or "catches" I might have missed from that lender. So far, looks like a solid lender with a high maximum.
     
  7. mshheaddoc

    mshheaddoc Howdy
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    For loopholes/catches you would just need to carefully read the promissary note for yourself. Maybe someone might glance on this board who have used this particular lender but I myself have never heard of them. I would be leary of any company who has been in business for about a year but that is just me. There are plenty of valid loan providers with a long standing history of service. I'd hate for you to get scammed. Just do your homework on the company and their products. Best of luck.
     
  8. rgerwin

    rgerwin Senior Member
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    also myrichuncle.com
     

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