<p>I am in a rather awesome situation and the last part of the plan is to acquire a private student loan.</p>
<p>I am a University of Illinois @ Chicago student, freshmen.</p>
<p>Here's the situation:
-I am moving out my current apartment (cost too high, was here from a previous employment, decided to go back to school full time). We found a sublet and this is happening immediately (next 15 days).
-Originally, I was looking for places in the $500-$700 range, but realized that this would not happen. Even so, I would still need PSL to pay off school/rent at some point. </p>
<p>I am in need of a PSL asap. I cannot have a co-signer (I have no one). I have excellent credit history.
I am looking for answers to the following:
1) What bank/company should I go to to achieve this? I tried SallieMae and they requested a cosigner immediately.
2) In terms of PSL, when will the money come my way? I need only a few hundred (if that) for rent at first, and then 3k for school next semester, but beyond that I am somewhat ok. </p>
<p>It isn’t likely you will get a private loan. Without co signer. Banks just give loans to people with current incomes, hence the means to start payments. Are you sure you are already taking your full federal loan? Are you a dependent or independent? Otherwise it looks like you need to work to save the money.</p>
<p>Ok I looked at you post history and you are independent so you have a higher rate you can borrow of fed funds. You knew going in what costs were.</p>
<p>Do you have a credit card? Do you have a bank account? You can start there. You can also ask around. However, without the income to support it, it’s highly unlikely you will get much in the way of an undergraduate student loan. You can talk to your financial aid office and see if they have any suggestions. Undergrads have been poor loan risks, which is why a cosigner is needed, one with an income and credit. Also, by binding two people into the consequences of not paying, the lenders have some leverage. </p>
<p>I am really going to have to work at this to make things work… this is kind of scary.</p>
<p>I will need $3000 for next semester in other income (income that I cant get from work).
and I will possibly need some $$ to cover basic life necessities (rent/food) but not much.</p>