Private Loans

[mshheaddoc]

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So, what are your experiences with this? Whom did you guys use? Any good deals out there that you care to share?

yes this could be a financial aid forum question, but I felt that since post-baccs have the same worries that maybe we could get some feedback.

I applied for a sallie mae signature loan and was a little disappointed in the floating rate of prime+4.25% 😱 and the fees.

 

[emgirl]

I'm wondering about this stuff too. How much can you get through Stafford for a post bac? I've heard that Sallie Mae is good to go through because unliike other private loans, they can be consolidated with federal loans.

 

[mshheaddoc]

I'm wondering about this stuff too. How much can you get through Stafford for a post bac? I've heard that Sallie Mae is good to go through because unliike other private loans, they can be consolidated with federal loans.

well no private loans can be consolidate with federal loans 🙁 That much I DO know.

 

[jules0328]

Hi guys,

Bring up my post on this. I have a lot of them dealing with financial aid for post baccs. I sort of got screwed and now I am even more screwed having to pay out of pocket. BUMP!

 

[mshheaddoc]

Hi guys,

Bring up my post on this. I have a lot of them dealing with financial aid for post baccs. I sort of got screwed and now I am even more screwed having to pay out of pocket. BUMP!

Thanks! When the search function gets back I'll look into it.

I just looking to see what lenders people are using, specifically for private loans.

 

[monu1234]

hey, i'm shooting for the citibank laons b/c the interest rate is .25 about the federal rate and it's pretty popular with the students at bu mams program


just my 2 cents

 

[kylahs]

Im using sallie mae -- got prime + 2% with a cosigner. Mshheaddoc, did u get a consigner?

 

[mshheaddoc]

Im using sallie mae -- got prime + 2% with a cosigner. Mshheaddoc, did u get a consigner?

nah, i ended up cancelling that loan anyways.

I didn't want to bother my parents as they haven't cosigned anything for me in like 4 years. 😀

It just stinks b/c the MBA loans I got through sallie mae (private) were just like 1% above prime but then the signature loans were like 4.25% and I have pretty darn good credit!!!

 

[jules0328]

Yeah, you may need a cosigner. This really sucks and you may not have a choice. If I were you, I would go to your NSDS online file www.nsds.gov (or something like that) and look up how much undergraduate government loans you have taken out. If it's less than 46K, then you have left over money to put into your post bacc work. However, if you have a Masters degree, things begin changing. Do a lot of research because financial aid people suck and the fafsa people will tell you to figure out how much loan money you have left via your NSDS file. Oh, and dont forget interest, because I believe that goes into your calculations also. Good luck!

 

[JDWflash44]

I just got approved for a loan to go to JHSPH from citibank at prime + 0% www.studentloan.com

Jim

 

[mshheaddoc]

Yeah, you may need a cosigner. This really sucks and you may not have a choice. If I were you, I would go to your NSDS online file www.nsds.gov (or something like that) and look up how much undergraduate government loans you have taken out. If it's less than 46K, then you have left over money to put into your post bacc work. However, if you have a Masters degree, things begin changing. Do a lot of research because financial aid people suck and the fafsa people will tell you to figure out how much loan money you have left via your NSDS file. Oh, and dont forget interest, because I believe that goes into your calculations also. Good luck!

Thanks fo rthe info jules. I don't come up with anything when I google "NSDS" though 😕

Maybe i'm an idiot or the lack of sleep 🙁

 

[jules0328]

Thanks fo rthe info jules. I don't come up with anything when I google "NSDS" though 😕

Maybe i'm an idiot or the lack of sleep 🙁

No, you arent the idiot. I am! Here is the actual website link:

http://www.nslds.ed.gov/SAStatic/PrivAct.asp

This will tell you every single loan you have ever taken out, undergrad, grad, post grad, etc.
You are going to need your fafsa pin number. Good luck!

 

[mshheaddoc]

Bank of America and Bank One apparently will not check with your instituitions for your financial aid budget and will allow you to get an amount over your alloted budget.
Just a tidbit that my financial aid office just told me.

I'm calling now for more information.

Jules - thanks for the information 🙂