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Hi.. I'm new here and have a pretty urgent situation.
I am going into my 3rd year at a small undergraduate college in baltimore, md (loyola college). Its very expensive but I have gotten a good amount of federal financial aid and grants from the school.
I plan on taking out a Sallie Mae Signature loan for the maximum my school will certify (11000). This will cover the remainder of my year's tuition bill (36000) and dorm room (9200).
However, I still need some more money for my meal plan, books, travel expenses, etc. It adds up to about 15000 a year. I originally wanted to take out a private CDR loan for the full amount (26000), but was told I should seperate it into CDR (15000) and school certified (11000). Therefore, I am in search of a check directly to me, non-school certified loan.
I have had bad luck so far. I applied for the tuition answer loan from Sallie Mae and was denied twice, using both parents as co-signers. We have good credit and have received private loans before, but I was told by Sallie Mae that since May 2008, they have raised their credit standards from good to excellent due to the economy. CampusDoor rejected us too.
Is anyone else having this problem? I understand that the current economy does have an impact on the interest rates, thus making it difficult for lenders to give out loans, but something has got to give!
I am currently in search of a non-certified school loan, but not sure where to turn. I've heard bad thing about Astrive, and am looking into NextStudent. Can anyone offer any advice or recommendations? THANK YOU
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