Private Loan Questions (non-certified by school)

[MDizzy]

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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[njbmd]

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

 

[MDizzy]

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.

 

[mshheaddoc]

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

 

[MDizzy]

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

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.

 

[mshheaddoc]

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.

 

[rgerwin]

also myrichuncle.com