<p>I have 2 weeks till move in. I've been trying to get a private loan for over a month now (details derailed us from being able to accomplish everything in a timely manner) it's down to the wire time wise. my cosigner is very credit worthy and is approved. Now all I need to do is get signatures in but I can't do that until Monday. I don't know if the loan itself would be approved yet and I won't have time to shop around for another. My question is if my cosigner is approved his credit is mid 700s and I have no credit history whatsoever is there any reason for me not to get this private loan? Isn't the fact that my cosigner was approved pretty much guarantee I'll get the loan? I won't be able to afford school if I don't get the loan so I'd have to withdrawal :(. It would suck but I would take a year off and work or go to somewhere online since I don't have a car then transfer.</p>
<p>It seems to me that the signature is for the loan application? I hope you know it takes 4-6 weeks for the loan to be processed and disbursed.</p>
<p>I can’t be much help so I’ll leave it to someone else to answer your questions.</p>
<p>You need to make 2 phone calls. Call the lender (you might be able to contact them over the weekend, I don’t know). Let them know what’s going on, and ask how you can get this going ASAP. If you have the loan agreement, ask if you can fax it with the signatures. (If you don’t have it, ask them to email it to you.) Be sure to tell them your deadline, and ask very politely if they could expedite it for you.</p>
<p>Second, call the school’s financial aid office on Monday morning and explain what’s going on. Last year, we thought we might miss the school’s deadline (because the lender didn’t forward the info to the school when they were supposed to). The FA office laid my worries to rest; they were totally willing to work with us. They knew we had been approved even though they hadn’t received the funds yet. They told us that, worst case, we’d have to pay finance charges on the unfunded balance; in the end, the funds came through in time and we didn’t even have to do that. </p>
<p>I should say that my D goes to a very small LAC. I don’t know where you’re going to school, and I don’t know if our school’s flexible “personal touch” treatment is typical. But financial aid personnel are people too. Be polite and pleasant and professional. If they need something from you, documents or whatever, be prepared to get it to them immediately.</p>
<p>Yes the signatures are for the loan. I have been contacting the lender all the time while trying to work out the kinks in the road. I will ask them to expedite it when we send the signatures in on Monday. They have an esign but that didn’t work last time we tried because of little things for my cosigner and they needed identification info from me. I’m hoping that we could esign on Monday. But they are not open on weekends so as I said everything is on hold until Monday. I have called the school. I’m going to Oglethorpe in Atlanta. I told them I was having to restart the application process and they said it was fine as long as everything is done before school starts. I guess I’ll need to call and see if that means the money has to be disbursed at that time or I need proof that the loan was approved. If it’s the latter I know I will recieve a letter in the mail and I will recieve an email and there is a call center that I can call for disclosure about whether it was approved so proving won’t be a problem. My financial aid department seems flexible so far so I’m hoping they’ll make it work.</p>
<p>And I just tried to contact the school but I won’t hear back until Monday. I really hope they will be understanding and as long as I get the proof it was approved I’ll be okay. They have a payment plan of the payments spread of 9 months. I may be able to gather enough money for that if I have to. Though it may be too late for that possiblility too.</p>
<p>The reason why I asked if it’s for the application is that they don’t process it until they get the signature. So you won’t get the loan in time for school. I was going to suggest a 9 month payment plan but you know about it. I hope you have enough money for the first month. Good luck.</p>
<p>I facebooked a sophomore and she said people were getting help all the way in march and not to worry about move in day. I’m still waiting for Monday but it looks as if they will be fine if I get the loan complete before move in day and the disbursement will happen when it happens.</p>