Hello all,
I am about to go into my senior year and am close to reaching the max amount of federal student loans I can take out. I know private loans are not ideal but there is not much else I can do. I am applying for jobs like crazy, but being that I am in a college town, they are extremely hard to get. So, I was wondering what my chances of being approved for a private student loan look like.
I CANNOT get a cosigner.
I need to borrow $3,000.
I’m 21 with a credit score of 746. (On the higher end because my mom has me listed as an authorized user on one of her credit cards)
I have a part time job, although it is very few hours (maybe 5 hours a week at $10/hr)
Any chance I could be approved for this loan? Any advice on where to apply at would be appreciated too. Thank you!
Why aren’t you asking you FA office for short term loans?
Perhaps consider a person-to-person option like Prosper, where you can post about your financial need, and there may be people there who would be interested in loaning you the $3K.
The only short term loans offered at my school are given if your financial aid is delayed. My aid isn’t delayed, I just don’t have enough.
As for Prosper, I’ve looked into it, but their website says you cannot use the loan for huiher education purposes including room and board.
Sometimes Sallie Mae will loan smallish amounts like that w/o a cosigner.
Do you have a checking account? Go to the bank that you use, or, go to a Credit Union that knows you. Short of that, I don’t know of any places that would fund a private student loan with no collateral.
As said above, Sallie Mae might for small amounts like this.
I know some few private financial aid bodies that offer small loans to students without cosigners. Interest rates are negotiable. Am sure if you search thoroughly for private financial aids you will find a legitimate source for your loan.