Credit score needed for private Loan ..please help!!!!!!!!

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Hi i am an 2nd degree student due to start and accelerated program in just under a month. I am having a tough time getting approved for an private student loan. I have applied to chase, sallie mae and PNC and was turned down for all three. My credit is fair...with the highest at experian which is 659. I do not have a cosigner, I have maxed out with stafford loans. Does anyone know the minimum credit score needed to secure a loan? And does an one know of any lenders who have leant money to them with less that perfect credit score? and info would be appreciated!!!!!!!!

I don't know if I would recommend the bankruptcy route. This will DESTROY your credit for a VERY LONG TIME!! I have seen some employers doing credit checks on prospective employees, so if your credit is destroyed, that might hurt you worse in the long run.

Does your school offer a payment plan? The college that I attend will allow you to break your tuition/books over the entire semester, which helps a lot of students.

Good luck with your search. Have you tried private scholarships? There are a few scholarship "search engines" that you can find that you can make a profile and they can match you to potential scholarships. I used one called fastweb.com and I ended up with a scholarship that I was matched with from there. Hope this helps.

I would not recommend the bankruptcy route either. Right now I'm going through a tough time with my co-owner on my credit cards who did not tell me they were behind--I fount out by pulling my credit report. Whatever I do, I'm not declaring bankruptcy and not letting anything "go." I think this is a bigger testament to a future employer than taking the easy road out. A rebounded credit history looks better than giving up by any stretch of the imagination.

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Are you not able to file the FAFSA and get a loan that way?

I already completed fasfa, I got 12500 in stafford loans . I am unable to get grants because I already hold a bachelors degree.

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I honestly don't understand what bankruptcy has to do with getting the money I need for school. I am trying to find a lender that will give me the money that I need to go. I would not dare try to start school and hope that I can finish without being dropped for tuition non payment. Filing for bankrupcy would be the last thing that I do.My original question was if anyone knew a lender that would lend to me with my less that perfect credit without a co-signer.

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I really think you'd be better off trying to get into a cheaper school, even though you may have to wait or complete additional pre-reqs. That is an awful lot of money to pay to a private school that doesn't help you secure funding. A community college is a much better alternative, IMHO. Good luck!

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I really think you'd be better off trying to get into a cheaper school, even though you may have to wait or complete additional pre-reqs. That is an awful lot of money to pay to a private school that doesn't help you secure funding. A community college is a much better alternative, IMHO. Good luck!

I already tried last year and didn't get in. The pros to the school that I am going to is that with this school I can graduate in 11 months with a BSN. there isn not much of an advantage to finding a cheaper school. Community colleges nursing programs are the most hardest programs to get into. Not to mention If I do get accepted this time I can not start until fall 2010. The program will take 2 years and I still want my bsn.... so what maybe another 2 years? I just don't think it is worth five more years of my life when I already devoted 4 years to a previous degree and another 2 to prequisites. I think it's crazy that everyone says go to a cheaper school I wish that it was just that easy, but not reality. When you factor the extra time and prequisites I don't think it would much of a difference.

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Toya, did you try getting a loan through Discover? I was very surprised at how easy they made it for me after all the trouble with other lenders. I would definitely give it a shot if I were you, I saw on your profile that you are 28 - I think the only reason I needed a cosigner was because Im only 21 with limited credit history (only credit cards), do you own a house or make car payments? I'm sure that you will be able to get a loan from somewhere, just dont give up :) Also, Im not sure about Perkins loans, but maybe those are an option? According to Staffordloans.com you can get 4000 a year for undergrad, so maybe that can help you try to take out a smaller private loan that might be easir to get?

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I think it's great when people want to go to private schools - that leaves more openings in the CC for people like me who don't want to pay that much! LOL

But, I wish you good luck in finding a company to loan to you. :)

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Toya, did you try getting a loan through Discover? I was very surprised at how easy they made it for me after all the trouble with other lenders. I would definitely give it a shot if I were you, I saw on your profile that you are 28 - I think the only reason I needed a cosigner was because Im only 21 with limited credit history (only credit cards), do you own a house or make car payments? I'm sure that you will be able to get a loan from somewhere, just dont give up :) Also, Im not sure about Perkins loans, but maybe those are an option? According to Staffordloans.com you can get 4000 a year for undergrad, so maybe that can help you try to take out a smaller private loan that might be easir to get?

Yelle418, Thank you soooooo much!!! Finally a reply was looking for! I do currently own a house, but have no car note. I will try them out and see what happens...Thanks again!

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I think it's great when people want to go to private schools - that leaves more openings in the CC for people like me who don't want to pay that much! LOL

But, I wish you good luck in finding a company to loan to you. :)

Sarafl, thanks for your response. Before I start I want to say that I am not talking about your post is inparticular, but i am sick and tired of the attacks that people recieve when they mention that they are going to a private school. Do people really think that I enjoy paying all of this money for school? no I don't. It just was easier for me to get accepted into a accerlerated bsn program then a traditional nursing program. I worked very hard completing the classes I needed for this program and it angers me when people just say"go to a cheaper school" or "go to a community college. Are we all living in the same country here? It is hard to get accepted into any nursing program let alone a "cheap school" I just want people to think about that before the pass judgement on people that make the desicion to go to a private school...By the way i am not rich, live on a modest income.

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I understand, I see how that can be frustrating. You do what is best for your situation. I joke, but I am considering going to the local university, which is not private school, but more expensive than the CC, just because it would save me 2 semesters.

I think people are just trying to look out for you, but obviously no one knows your situation and circumstances like you do.

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