Have you talked to the financial aid office at Central about your other options for loans? My Direct Loan wasn't covering all of my tuition at SVSU, so I went in and talked to them and they gave me a list of alternative loans I could apply for. I ended up with a CitiAssist loan (through CitiBank) which also has the same 6-month grace period after graduation, etc. I did need a cosigner for that, but if my credit checked out, I could have done it myself. But I know there were 3 or 4 other types of loans, and I'm pretty sure one or two of them didn't require a cosigner. Anyway... I'd make an appt with financial aid and let them know whats going on, and see how they can help you. Here is some info I got off the SVSU Financial Aid page...
SIGNATURE STUDENT LOANS
Current Interest Rate: Variable - based on Prime Interest Rate & credit status Interest Rate Change: Monthly - based on next to last business day of prior month Minimum Enrollment Status: Half-time (6 undergraduate credits/5 graduate credits) Satisfactory Academic Progress Required? No U.S. Citizenship Required? No
The Signature Student Loan is a private student loan that will help you cover the cost of your education. You must be enrolled at least halftime, pursuing a undergraduate or graduate degree, and maintaining satisfactory academic progress (SAP) may apply for this loan. You are not required to make any payments while in school. A student must be at least 18 years old and have established credit history, if applying without a co-borrower. The Signature Student Loan interest rate and fees will be based on the borrower or co-borrower's credit history, and the school you are attending. Rates and fees are categorized into "Excellent", "Good", or "Fair" groupings. Call TCF Bank at 800-533-1723 ext. 8100 if you have any questions. This loan was developed by Sallie Mae and offered to you by TCF Bank.
Current Interest Rate: Variable - based on Prime Interest Rate & credit status Interest Rate Change: Variable Minimum Enrollment Status: None Satisfactory Academic Progress Required? No U.S. Citizenship Required? No
The CitiAssist Loan is an alternative loan offered by Citibank to help fill the gap between existing financial aid and the cost of a student’s education at an accredited 4 or 5 year college or university. Students who qualify as creditworthy do not need a co-signer. International students must apply with a creditworthy individual who is a citizen or a permanent resident with a U.S. based address and meets the co-signer eligibility requirements. The interest rate is based on the Prime Rate & credit status. Students may borrow up to the cost of education minus any other financial aid. There are no loan fees deducted from the amount borrowed. Students are not required to be in a degree-seeking program. CitiAssist loans don’t require payment while students are in school or during the 6 month grace period. Students may apply for a CitiAssist Undergraduate Loan online at http://www.studentloan.com/
AND ANOTHER...
MI-LOAN (Michigan Alternative Loan Program) - CREDIT WORTHY
Current Interest Rate: Fixed: 5.95% ; Variable: 4.53% Interest Rate Change: Yearly - every July 1 (variable loans only) Minimum Enrollment Status: None Satisfactory Academic Progress Required? Yes U.S. Citizenship Required? Yes
The Michigan Alternative Student Loan (MI-LOAN) Program is offered by the State of Michigan for students attending Michigan degree-granting colleges and universities. It offers loan funds to credit worthy student or parent applicants. A co-signer may be required. Applicants have the option of choosing a fixed or variable interest rate and are limited to borrowing up to a student’s cost of attendance minus any other financial aid. A maximum fee of 4 percent will be deducted from the loan. Repayment begins within 60 days after disbursement, but a forbearance of principal or of principal and interest may be obtained. Students may access, fill out, and print a MI-LOAN Credit Worthy application at www.michigan.gov/mistudentaid
I have been in contact with the Financial Aid department every single day!! They have told me all of my options and my last option was an altenate loan like you suggested...I applied for one and they denied me because I need a cosigner...I then went and ran my credit report to see what is on there that is stopping me from getting anything and there is nothing...my credit score before was poor at the freaking bottom so that would explain why i couldnt get anything then but now as of today it is GOOD!! Im in the middle so I dont see what the problem is!! I have tried everything that the financial aid told me I could do and nothing works...Im just so frustrated!!
SIGNATURE STUDENT LOANS
Current Interest Rate: Variable - based on Prime Interest Rate & credit status
Interest Rate Change: Monthly - based on next to last business day of prior month
Minimum Enrollment Status: Half-time (6 undergraduate credits/5 graduate credits)
Satisfactory Academic Progress Required? No
U.S. Citizenship Required? No
The Signature Student Loan is a private student loan that will help you cover the cost of your education. You must be enrolled at least halftime, pursuing a undergraduate or graduate degree, and maintaining satisfactory academic progress (SAP) may apply for this loan. You are not required to make any payments while in school. A student must be at least 18 years old and have established credit history, if applying without a co-borrower. The Signature Student Loan interest rate and fees will be based on the borrower or co-borrower's credit history, and the school you are attending. Rates and fees are categorized into "Excellent", "Good", or "Fair" groupings. Call TCF Bank at 800-533-1723 ext. 8100 if you have any questions. This loan was developed by Sallie Mae and offered to you by TCF Bank.
Applications are available to print at http://www.tcfexpress.com/educationfinance.htm
ANOTHER ONE...
CITIASSIST LOANS
Current Interest Rate: Variable - based on Prime Interest Rate & credit status
Interest Rate Change: Variable
Minimum Enrollment Status: None
Satisfactory Academic Progress Required? No
U.S. Citizenship Required? No
The CitiAssist Loan is an alternative loan offered by Citibank to help fill the gap between existing financial aid and the cost of a student’s education at an accredited 4 or 5 year college or university. Students who qualify as creditworthy do not need a co-signer. International students must apply with a creditworthy individual who is a citizen or a permanent resident with a U.S. based address and meets the co-signer eligibility requirements. The interest rate is based on the Prime Rate & credit status. Students may borrow up to the cost of education minus any other financial aid. There are no loan fees deducted from the amount borrowed. Students are not required to be in a degree-seeking program. CitiAssist loans don’t require payment while students are in school or during the 6 month grace period. Students may apply for a CitiAssist Undergraduate Loan online at http://www.studentloan.com/
AND ANOTHER...
MI-LOAN (Michigan Alternative Loan Program) - CREDIT WORTHY
Current Interest Rate: Fixed: 5.95% ; Variable: 4.53%
Interest Rate Change: Yearly - every July 1 (variable loans only)
Minimum Enrollment Status: None
Satisfactory Academic Progress Required? Yes
U.S. Citizenship Required? Yes
The Michigan Alternative Student Loan (MI-LOAN) Program is offered by the State of Michigan for students attending Michigan degree-granting colleges and universities. It offers loan funds to credit worthy student or parent applicants. A co-signer may be required. Applicants have the option of choosing a fixed or variable interest rate and are limited to borrowing up to a student’s cost of attendance minus any other financial aid. A maximum fee of 4 percent will be deducted from the loan. Repayment begins within 60 days after disbursement, but a forbearance of principal or of principal and interest may be obtained. Students may access, fill out, and print a MI-LOAN Credit Worthy application at www.michigan.gov/mistudentaid
Reply
Reply
Leave a comment