Help with student loan needed..;) | FerrariChat

Help with student loan needed..;)

Discussion in 'Other Off Topic Forum' started by VIP_NYC, Aug 13, 2008.

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  1. VIP_NYC

    VIP_NYC Rookie

    Mar 10, 2008
    24
    Hey, guys, here is the situation. My girlfriend wants to go to Parsons and needs a student loan. We both are legal residents. She has been in the States for a year(won a green card) and has some credit history, mine a few years longer, but the credit score is around 600(young mistakes). If anybody could tell me how hard would it be to get a student loan for around 70k. I work and get 50k per year, she is getting around 20k.What is the best place to apply and so on. Your help is greatly appreciated. Thank you!!!
     
  2. Gilles27

    Gilles27 F1 World Champ

    Mar 16, 2002
    13,337
    Ex-Urbia
    Full Name:
    Jack
    I'm thinking some sort of "lending agency" may be a good place to start. Unless one of the good members here wishes to whip out his fat dusty checkbook and do away with this ugly debt.
     
  3. MikeMac

    MikeMac Formula Junior

    Feb 26, 2008
    440
    Denver, CO
    Full Name:
    Mike
    Call the school's financial aid office. They're the ones that will help you get a loan.
     
  4. djui5

    djui5 F1 Veteran

    Aug 9, 2006
    5,418
    Phoenix, Arizona
    +1 They have access to all kinda government programs that can help you a LOT.
     
  5. Ryan S.

    Ryan S. Two Time F1 World Champ
    Silver Subscribed

    Mar 20, 2004
    28,866
    Start with FAFSA and also get in contact with the school as someone else mentioned.
     
  6. senna21

    senna21 F1 Rookie

    Jul 2, 2004
    3,334
    Los Angeles, CA
    Full Name:
    Charles W
    Also, outside of the loan, scrounge around for scholarships. I'm not talking about the BIG ones that everyone's vying for. There are a lot of little ones that add up. When my GF was in grad school she nailed down a bunch of $300 to $1,500 ones. Yes it's a lot of work to fill out the paperwork but because of that there are far fewer applicants that you've got to beat out. There were a couple of times where she found out she was the only person who applied for the scholarship! As I said it all adds up and every little bit helps.
     
  7. agup48

    agup48 Two Time F1 World Champ

    Apr 15, 2006
    28,633
    Phoenix
    Full Name:
    AG
    +1 to both, and go talk to a bank, ask them about Student Loans, and they will help you sometimes better than the schools FinAid office can.
     
  8. AnotherDunneDeal

    AnotherDunneDeal F1 Veteran

    Jun 2, 2003
    6,109
    N.Richland Hills, Tx
    Full Name:
    James Dunne
    Yep.

    Start with the financial aids department at the college. You will need to fill our the FAFSA which will help in determining what she is eligible for. There are many minority grants and scholarships available along with a host of fraternal organization grants. You will need to start early and make sure you do not go past the Fafsa deadline. If you are wanting it for this semester that is just about to begin you are too late. We stayed after the school about a scholarship for our son and it paid off with the largest scholarship in his degree field in school history. We were surprised and very pleased.
     
  9. rollsorferrari?

    rollsorferrari? F1 Veteran

    Jun 5, 2006
    9,984
    St. Louis
    Full Name:
    Scott
    trust me, scholarships are definitely a GREAT thing to have, but other than that, fafsa is the first thing you have to do to go any further, but check with any financial institution, they usually offer them.
     
  10. SrfCity

    SrfCity F1 World Champ

    I saw an article stating that with the credit melt down student loans will be very tough to get. Give it a shot anyway. You may have to consider "alternative strategies" to get there i.e. work for a company that will pay for schooling. Good luck.
     
  11. VIP_NYC

    VIP_NYC Rookie

    Mar 10, 2008
    24
    Thanks a lot!!:)
     
  12. fluque

    fluque Formula 3

    Jul 30, 2004
    1,759
    Above 2240m
    Full Name:
    Fernando
    Best advise is go to your school's financial aid office.

    Check out www.studentloan.com I think you can apply online. When in grad school took a student loan from Citi as a foreigner.
     
  13. Blackbird4life

    Blackbird4life Formula 3

    Jul 8, 2005
    2,164
    Also even if she goes to Parsons, consider telling her to take transfer credits....then she can have a easier time with a course and save money at the same time.
     
  14. fastback33

    fastback33 Formula 3

    Mar 8, 2004
    1,851
    Just out of curiosity, do you have to be on financial aid to get any scholarship?
     
  15. MikeMac

    MikeMac Formula Junior

    Feb 26, 2008
    440
    Denver, CO
    Full Name:
    Mike
    Scholarships are usually (always?) merit-based, where financial aid is need-based, so the answer in most (all?) cases is no.
     
  16. Whisky

    Whisky Three Time F1 World Champ
    Silver Subscribed

    Jan 27, 2006
    31,859
    In the flight path to Offutt
    Full Name:
    The original Fernando
    Yes - these schools WANT your money and will do whatever they can to get it from you.

    Kinda like an ex-wife.
     

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