Going back to school questions -

Financial Aid Questions and Answers : Where do I begin? Answers to your Financial Aid Questions!

Moderator: Financial Aid Guru

Going back to school questions -

Postby GabrielNYC » Thu Jan 10, 2013 8:59 am

I would like to go back to school to resume my education in hopes of improving my career options but i defaulted on my stafford loans. I'm currently unemployed. Is it true that i can take out a private loan to go back to school? I have bad credit due to being a victim of ID theft years ago. Can i still take out a private loan?

:?: :?: :?:
GabrielNYC
New
 
Posts: 1
Joined: Thu Jan 10, 2013 8:51 am

Re: Going back to school questions -

Postby Aid Whiz » Thu Jan 31, 2013 8:53 am

If you're in default on your Stafford Loans, then its possible you will not qualify for a private loan. Private student loans typically have strict credit requirements, and the default and identity theft will most likely make you ineligible.

However, you do have some options. If you apply with a cosigner with good credit, you may be able to qualify.

Additionally, you should take care of the default on your record. Here are some ways you can go about remedying that if you haven't already: http://studentaid.ed.gov/repay-loans/default/get-out

I hope this helps!
Student Advocate, The Student Loan Network

Check out the Student Loan Network Official Blog for the latest in financial aid news and information!

Follow us on Twitter for helpful tips and tricks for financial aid!
Aid Whiz
Veteran of Financial Aid
 
Posts: 626
Joined: Wed Mar 30, 2011 8:25 am


Return to Questions and Answers

Who is online

Users browsing this forum: No registered users and 4 guests

cron