Saturday, October 31, 2009

Student Loans?

I am wanting to go to beauty school but my credit is pretty bad and I cant get a loan without a co-signer. The problem is, all the places i have checked out will not pay for the whole program, just part of it. I dont have any money to cover the other half of what the loan will not cover. So I was thinking about applying to an acedemic school and getting a student loan for that, since they will cover all of finances for that type of school and at the last minute before school starts, I will withdraw then use that money to go to the beauty school of my choice... what will happen if I do that. I understand I will have to start paying back the loan money immediatly instead of making payments after my schooling is done(if i went to the acedemic school)... the loan that I am wanting to get sends the money to you and not the school, so that will enable me to put that money towards the beauty school...what are the problems i might come into if i do that...?



Student Loans?

Ok, first off , nearly all schools whether for profit or not will student loans from the federal government, you dont need good credit to get those kind of loans. Second of all, for the kind of private student loans you are referring to, you can be going to any type of school and still be eligible for a loan from them because they are not through the federal government. I think you need to do a little more research.



Student Loans?

Have you applied for any grants?



Student Loans?

What about getting a credit card and then filing bank ruptcy on it afterwards...No just kidding..What about a job that helps pay for it.



Student Loans?

As someone who works in the business office at a university, I will tell you what we do. We would not disburse loan funds directly to the student--they are paid electronically directly from lender to institution. We would only refund an amount that would exceed the cost of attendance, never the whole amount of a loan. We also would not approve or certify any loan for an amount that exceeded the cost of attendance.



If someone did get loan proceeds and then dropped (rarely does happen), we%26#039;d send the student a bill, and if that wasn%26#039;t paid, we%26#039;d send it to a collection agency, then take them to court.

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