<p>I will like to know if I get denied from the ParentPlus loan, will I also get denied automatically from other lends such as Private, and the NJClass loan?</p>
<p>Bump - Please -</p>
<p>No one here can say for sure, but since Plus uses more lenient standards, then it would be a safe guess to say that the parent would be denied for a private loan as well. </p>
<p>Are you the parent? Parents get denied Plus…not students.</p>
<p>Ok, So you are saying that due to the ParentPlus loan lenient and minuscule standards in there credit check, it is likely that if you get denied from the ParentPlus loan, you will likely get denied for private lenders as well, due to there more strict standards? So if my Parent got denied from the Plus loan, they do not send out the information to all other lenders private or federal, and hinder my chances of getting a loan at all? Also why can’t no one here say for sure?</p>
<p>no one can tell you for sure. Everyone tried to tell you to go to cc next year… They warned you about loans:</p>
<p><a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/1305780-private-loan-question-co-signer-bad-credit-3.html[/url]”>http://talk.collegeconfidential.com/financial-aid-scholarships/1305780-private-loan-question-co-signer-bad-credit-3.html</a></p>
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<p>In general that is a correct statement. If your parent is denied a Parent Plus loan there will be I believe $4500 more you can borrow on your own from the federal government. I have no knowledge of what an NJClass is so can’t comment on what those lending requirements would be.</p>
<p>The Parent Plus loan is dependent on your parents’ credit standing. If you apply for a private loan yourself, the lender will be looking at your credit, not your parents’, and that of your prospective co-signer, whoever that may be. Does that help?</p>
<p>why can’t no one here say for sure?</p>
<p>Because no one here runs all loan companies. How the heck could anyone here say, “For sure, there isn’t anyone, anywhere that will give your parent a loan after being denied by Plus.”</p>
<p>Oh no, I am not asking that. I am asking does me being denied some how get shown and/or the denial given to other lenders, so they can deny me based purely on me being denied the ParentPlus loan? I heard they can give out your information, would a bank or private lender/federal lender know I got denied from the parentPlus loan when I go and apply for it?</p>
<p>It won’t matter because whatever reason was in you parent’s credit report that caused the PLUS denial banks or other financial institutions will see the same credit report. It’s possible the PLUS credit check shows up as an inquiry but that is really incidental. Now, if the parent gets turned down for the PLUS loan it might be a good idea for that parent to request a copy of their credit report to make sure there isn’t any erroneous information in that credit report before you turn to other credit lenders.</p>
<p>I reread your old thread. This is ridiculous. It doesn’t sound like you’re going to get these loans. As you mentioned in your other thread, your mom’s credit has problems. If so, that’s why she was denied Plus. For the same reasons, she will be denied by other loan companies because their guidelines will be MORE strict.</p>
<p>In your other thread, your dad (who isn’t part of the household) seems to be issuing demands (must live on campus, don’t join the military, etc) when he’s not paying for your college costs and isnt’ co-signing. That’s nuts. Who listens to a NCP who isn’t paying?</p>
<p>Your right, I am going to see what I can do about the loans and Co-Signer option. If not I am sure a local Community College will do fine. I do not believe I will qualify for any loans, for I just got denied from the NJClass as well. I applied for Bergen Community College, but do you think I can still register for classes, if I do not make this work out?</p>
<p>I don’t know how full the classes already are at that CC. You’ll have to find out tomorrow. Can you go there tomorrow and find out?</p>
<p>If you qualify for the subsidized loans then you can take out the amount that an independent student could, as opposed to what a dependent student could. But this is only relighent on the fact that your mother would be unable to take out the plus loan due to credit.</p>
<p>Tevin, if your parent is denied PLUS, you can get and additional $4K in Staffords for yourself for freshman year, bringing your loan total to $9500 for your first year of college.</p>
<p>When your mother was denied the PLUS, there would have been mention of the credit check on her credit files, yes, on the one that PLUS uses for checking credit. It shows up as an inquiry, and she is entitled to look at her credit report for free since she was denied credit, and can see what the issue is.</p>
<p>For private loans, both you and your mother, or whoever is your co signer will undergo credit checks. The way it works there, is that the better the credit you two have, the better the interest rate of the loans. They look at credit score, income, time at the job, other loans, etc so credit score alone is not what determines the decision. The other thing that is determined is how much the lender is willing to lend you. So, that your mother was turned down for PLUS does not necessarily mean she will be turned down elsewhere, but the reasons that got her turned down for PLUS can affect the terms and amount of the loan she an dyou can get together. </p>
<p>So you will not be denied purely because your mother was declined on PLUS or that you or she were decilined elsewhere, but those inquiries do show up and do affect your credit score and can affect the terms of the loan. Your mother should investigate what is causing problems with her credit and see if it is something fixable or something she can work on. I had problems getting a mortgage once due to an unpaid balance of $30 on some store card that I signed up for upon a purchase to get some percent off, and then forgot about it, pitching all the mail that came from that store, thinking it was junk mail. It caused a blip in the process and was a pain in the neck, but was addressable. If she was denied by PLUS, she probably has something that is delinquent for, I believe, 3 months. If she can get caught up on payment and reapply, she might get a go. </p>
<p>But sometimes it is a good thing to be denied a loan as it is a wake up call that things are not right in your financial life and you need to address it. Maybe your mother cannot afford this loan. Perhaps a year of communting locally is a better idea for you.</p>
<p>Ok thank you guys for all the feed back, as for the local community college, there is one close by, and they just recently called me on registering for classes, so that will always be a last bid option. As for the increased Stafford loan, I just sent in a repeal letter to Rutgers with my mother denial attached to the back. If what you say is true I should get an additional $4,000 in Stafford loans, which should give me around $12,500, which is around the exact amount I need to pay my tuition. I am guessing I am going to have to turn down my housing, and commute to Rutgers by bus/train for the 1st year… All should work out hopefully…</p>
<p>How much would it cost to commute by train/bus each day? This could really add up to an amount that’s not affordable. </p>
<p>And, how much time will it take to commute each way? The amount of time, if high, will impact your ability to work a part time job and get studies done.</p>
<p>It should cot around $8 back and forth, But I think I may be able to get a pass for both the train and bus, so idk. And yes I know, I most likely will not be doing the work study. I just got the response back to, and I got $12,500, just what I need to pay for tuition! I am calling up Rutgers today, to let them know I will not be rooming and boarding, and that I must cancel it or else I will not be able to attend the university. I am planning on working some what, But I wanna really apply my self Freshmen year, So I can get high grades and hopefully more aid from the school…</p>
<p>Good grades 99% of the time does not equal additional scholarships. Don’t count on that.</p>
<p>If you go to the school, make sure you introduce yourself personally to the financial aid officers and visit them frequently, reminding them that you want to know about any awards that arise for which you may be eligible. You want to be first in line for any such opportunities.</p>
<p>However, as Iron Maiden states, such opportunities may well be limited even with perfect grades. Do check on departmental awards as well and what one has to do to get any out there. And if you can find a job on campus and work it around your schedule, do so.</p>
<p>My cousins commuted over an hour each way for two years, in a complex network of rides. They would get there early in the morning, every day and stay till around 7pm on campus, studying and working at jobs they found there. It was the only way they could do it.</p>
<p>I know a number of kids commuting to NYU from my area and a good half hour further from NYC. Terribly expensive to do so, as a monthly pass is over $300 just for the train, and a NYC MTA pass at $100 a month is also needed to do this. Not to mention getting to and from the train station from home, and food for the day. But it beats what NYC charges for room and board as much as half. You do what you have to do. But getting a job while in the campus area, can bring in funds to reduce the commuting cost by even more and may mean a free meal in some situations. You do what you can to bring down the costs.</p>