Loan - Page 5

buckminsterfullerene · 12:04 PM

Quote:

Originally Posted by Hopeful8662

Is is loan currently the best one out compared other banks such as Chase, Discover, etc?

It's not that it's the best one out there but it seems to be the only loan that will give money to dreamers ATM since Fannie Mae stopped doing so, and yet there are some restrictions here as well. I have seen chase coming out with a new student loan but have not researched the loan to see whether it works or not for dreamers. At issue is what they require as far as documentation for application and our ability to obtain such documentation, even with a USC cosigners other student loan granting agencies require for example some sort of proof of legal status via a valid I-20 or a SEVIS number.

On the other hand I did hear of someone being able to get a loan from CitiAssist which required an I-20 by sending a blank I-20 which for some reason was accepted and having the loan accepted and disbursed.

Quote:

Originally Posted by yaaayji

Good News!

I applied for a CitiAssist loan awhile ago, and I got it!! I sent in a blank I-20 form and they disbursed the money to my school. Don't lose hope! Try CitiAssist--I was a nervous wreck and didn't know what was going to happen, but the loan came through; hopefully, you guys can get it too.

Quote:

Originally Posted by yaaayji

I applied over online-there is a section that says "student without ssn" which is what i clicked; the only thing is that students without ssn must have a credit-worthy u.s. citizen as a co-signer to apply for the loan.

If you have any extra questions, just PM me

hope this helps.

dreamerperson · 08-22-2011, 03:49 AM

I have a question. The OP said you have to have proof that you are currently enrolled. I am in a complicated situation. I could not return this fall due to lack of funds. We were on a payment plan with the school, but now I cannot do anything about it until I pay $19000. How the hell am I supposed to do that? Are there any loans or resources that can help me with this? Wish my parents hadn't kept me in the dark about this.

buckminsterfullerene · 08-22-2011, 08:48 AM

Quote:

Originally Posted by dreamerperson

I have a question. The OP said you have to have proof that you are currently enrolled. I am in a complicated situation. I could not return this fall due to lack of funds. We were on a payment plan with the school, but now I cannot do anything about it until I pay $19000. How the hell am I supposed to do that? Are there any loans or resources that can help me with this? Wish my parents hadn't kept me in the dark about this.

That is a precarious and complicated situation. Unless you can prove current involvement you cannot complete the application, I had trouble because I was on a leave of absence and had to wait until I selected classes, the school sent me a bill and asked them for proof of current enrollment before they approved my loan. If they don't let you apply for next semester and select classes I do not see how you would be able to attain this loan.

I don't know about any other types of loans or resources, perhaps someone else has an idea on this and responds to your question. Perhaps you could in contact with your school's financial office and let them know that you could apply for a loan if you are currently enrolled and see if there is something you can work out that way, but if that is the total for one semester you might be digging yourself into a lot more trouble. There is a limit to how much you can get from this loan per school year of 25k, the rate is variable and you would start paying the loan the following month, all this that you should consider. Unless that is going to be your last semester or last school year I do not see how it could be worth it to take such a risk and attain such a high amount of debt.

QUOVADIS2009 · 08-24-2011, 08:58 PM

Great info and thank you so much. I am considering this for my Law School. I had to ask for deferral of enrolment this fall, because I can not afford it . Thinking of getting a loan but also have to consider the accumulation of debt, since I will just be starting. $38k/year on tuition alone, excluding rent/living expenses.

Has anyone tried getting a loan fr Bank of America? I have an account there and a CC, which they offered me when I was in college after rejecting my student loan application with a US citizen co-signor in 2007. But that was a bad year to get a student loan then. And maybe the credit rating of my co-signors were not that good. Tried 4 diff times with 4 diff co-signors all disapproved. What I got was on offer of a BA credit card, instead. lol

buckminsterfullerene · 08-24-2011, 09:35 PM

They will give you a credit card but as far as I am concernes no one has received a loan from them. And unfortunately the wellsfargo loan is limited for I think 25k per year as it is really just intended to offset the costs not covered by other loan categories with more favorable and locked interest rates. Therefore, just beginning college and even if you were able to get the loan I would not suggest it as you start paying the month after funds are disbursed and after you finish paying the loan it is likely you will have paid twice or maybe even more what college actually charged just on the interest.

I feel your beat bet are scholarships which are very very rare to find or applying to another school and hoping they give you a scholarship, preferrrably a private school whose finances are not too interwined with sate funds and may have less issues giving out scholarships you may actually accept.

NoWhereToRun · 08-25-2011, 04:42 PM

if they ever kick me out of usa or i have to leave...i am maxing all my credit cards and leaving the country.

piratedream · 12-27-2011, 06:29 PM

Hey guys, one more thing to help some of you out for paying for college. Sadly, as is the case with the loan, and most other things out here, you do need a US citizen or permanent resident to apply on your behalf.

No real links for this one, but if you have someone who's willing to do it for you, apply for a Line of Credit. There are various institutions out there that provide these, such as Wells Fargo, along with various Credit Unions. They can also get a Personal Loan on your behalf, however I'd recommend a Line of Credit simply because you can continue using it, whereas a loan is a one time lump sum in most cases. Interest rates will also be lower then using credit cards to pay for your tuition, and the "limit" will in most cases be far larger then a normal credit card.

Hope it helps you guys pay for your college expenses, I haven't taken advantage of this yet, since my family still has some leeway, but I may have to next year. Good luck!

eryezhaL · 08:34 AM

Talking about debt, the reason why many of us are going through debt problems is because we don't understand the nature of debt, it is important to understand the debt cycle. The debt cycle starts when you begin to outspend your income for one of many different reasons—ignorance, carelessness, compulsiveness, pride, or necessity. You know it's wrong, but you do it anyway, telling yourself “It's just this once.” Just as people are beginning to get even more irritated about the supposed “cycle of debt” that payday cash advances create, a brand new study was released by Arkansas Tech University Professor Marc Anthony Fusaro. In his research, he learned that the “cycle of debt” is not produced with high interest rates. This is just a little bit of proof that payday cash advances are a reputable product for people in crisis situations. Find out more at: Payday Loan. This debt cycle can continue for only so long. Soon, you can't get any more credit, and just the interest becomes more than you can pay each month. You have lost your money, your sense of self-worth, and your good credit history. The cycle of debt is a process that an individual goes through from the point of taking that very first loan or credit card, in fact, from the start of the borrowing, probably at the age of 18. It can be hard to bring and end to the cycle of personal debt.

Whistly · 05-10-2012, 10:27 PM

Chase Loan

chopstix · 05-11-2012, 10:02 AM

Quote:

Originally Posted by buckminsterfullerene

I must point out that the loan is the Wells Fargo student loan for parents"" and my USC cosigner was my sister.

They might initially tell you that due to your status you do not qualify, don't just leave it at that, press on, the guy I talked to did not think there was anything for me, but I told him I learned of this loan through a forum and that the person with a similar situation was able to get a loan, he left me there for several minutes and finally came on to continue with the loan application after having asked. The loan is for the cosigner they will need mostly details from the cosigner, all they need from the student is the name of the school they are attending, their Tax ID/ITIN number and the date that would be covered by the loan and obviously the amount of the loan needed. The cosigner will need to obviously be a USC, needs a personal reference from someone that does not live with the cosigner (just the name and telephone number of the person), to give financial information and other details including SSN number.

They will tell you if you were approved immediately or sent for consideration the later which takes 24-48 hours, under those estimates, because they apparently sent the information today, I will get a response by thursday the latest, and hopefully an approval.

good luck on applying and it does not take long at all. they operate between 8 am and 8 pm central time.

buckminsterfuller,
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Loan - Page 5