Key Bank loan

IndianaPilot · March 29th, 2005, 19:07

Having a little bit of a problem here guys ! Everything has gone very well so far....did the interview, did my phone with with Jim yesterday and got accepted into the program. Now i'm applying for this loan..but i'm learning a few disturbing things. BOTH you and your co-signer need very good credit from what i'm being told. If thats the case...then what is the whole idea of a co-signer ?? My credit isnt the greatest....so my dad is gonna co-sign. Now it looks like it might not happen. Any ideas ?? Contingency plans ?? If this goes sour, where else can i look for financing for this ?

CRJDriver · March 29th, 2005, 20:25

My credit isn't very good either, since I already have a few thousands in loans. I have my dad as a co-signer, and his credit is flawless, so I had problem getting the loan.

IndianaPilot · March 29th, 2005, 20:33

Did you finally get the loan ? They mentioned something about an appeal if it does get denied. My credit isnt horrible...it just isnt established enough for one thing. And yes, there are a few things on there that would not look good. But my dads credit is flawless....perfect.....so i'm hopin i can work something out. What ended up happening in your situation?

CRJDriver · March 29th, 2005, 21:02

I called Diane at ATP went through the application process with her, and 3 days later I got the loan with no problem.

jayllamas · March 29th, 2005, 21:08

Try sallie mae...they're easier to get money from.

SmitteyB · March 29th, 2005, 22:03

You can drop your cosigner after 4 years of repayment.

Key Bank isn't picky.

IndianaPilot · March 29th, 2005, 23:24

Yep i talked to Diane today and we did the telephone application thing. She said we should know by tomorow afternoon, but even with a co-signer, my somewhat less than perfect history might hurt me. It's not for sure yet, just possible. Jayllamas i do have a brochure here from sallie mae...i guess maybe that would be my back-up plan if key bank doesnt work. We shall see !! I've got my fingers crossed though.....

IndianaPilot · March 29th, 2005, 23:26

Yeah Smittey i was always told that also about key bank...that they werent picky. When i talked to Diane today, she said that Key just had some changes, and there is new administration, and just recently they made the process VERY VERY petty and picky...so basically it's changed from what it used to be.

adreamer · March 30th, 2005, 08:19

I was in the same boat last year. Well, my Ioan application has been approved after one year of using my 1st ever credit card. Now, I need to re-do my interview this weekend at Chicago.

adreamer

Brazilian_Pilot · March 30th, 2005, 13:30

Wait a Sec... the interview is for the school or for the loan?? Cause im think about key bank also.

adreamer · March 30th, 2005, 13:37

The flight school

freq_flier · March 30th, 2005, 16:30

Jeez this sucks!!!! My husband and I applied for the loan through Key bank last year, and they said because we are so young, we don't have enough credit. They told us that you need two lines of good credit for two years. They told us that this August we would be approved if our credit was still excellent because in August we will have 2 years of 2 lines of good credit. So, we are crossing our fingers in hopes that it goes through in August!!!

jayllamas · March 30th, 2005, 21:34

My parents were rejected 4 times as co-signers. They had a combination of 750++ on they're credit. Sallie Mae for some reason approved me and I have horrible credit. The problem is they did'nt approve enough. I thought I read somewhere that Dianne assists on getting a loan? Do you think she can bring up my approval a bit?

jayllamas · March 30th, 2005, 21:35

by the way , they were rejected by key bank...i forgot to put it.

Adamallica · March 31st, 2005, 04:05

It took me a week, but I finally got financed with Sallie Mae....I tried 4 different co-signers with Key, but all were denied. Although Diane was a big help, there's nothing she can do if you're denied. Sometimes they will let people appeal by sending in tax returns for the self-employed, but other than that - good luck. If you can get Key, it's definitely better (about 5.8% right now)....My loan with Sallie Mae is at 8%, quite a bit higher. Out of all the things I've had to do to get going with this school, getting financed was the hardest!

ETAV8R · March 31st, 2005, 07:36

I too was denied by Key. It was a real let down because at that time I was all ready to go.
It is still the major hurdle to overcome in order to go to ATP. Hopefully soon.

Heath · March 31st, 2005, 10:21

Screw Key Bank! Go to Sallie Mae.

I had a blemish on my credit record that wasn't even mine, disputed it with the credit burea and had it expunged. I provided the proof to Key Bank and they still wouldn't approve me! WTF?

Went to Sallie Mae and they approved me within 24hrs with no problems, and the interest rate was just a half point higher than Key, and the deferral was 18 months instead of 6!

I WAY recommend SLM, they're easier to work with, and still a pretty good deal.

Heath

IndianaPilot · March 31st, 2005, 13:52

Wow lots of you guys have had problems with key looks like. I talked to them yesterday, and my approval is still pending. They requested recent pay stubs for myself and my dad (cosigner), tax forms, and information on the house payment. We are getting that together and will have it faxed today. From that point they say they would have a decision within 24 hours. Heath from what your sayin about SLM, i almost hope it doesnt go through. That 18th month defferal sounds really really nice. We shall see shortly

Texguy · March 31st, 2005, 15:22

Why would you have to re-do the "interview"? They better not charge you $100 again.

PilotB · March 31st, 2005, 18:42

I also used Sallie Mae and was very happy with the outcome.

Hey Heath how did you get it deferred for 18 months, did you have to claim financial hardship or do you have a different type of loan. Mine is the Career Training loan through Sallie Mae and the interest rate was only 1 percent higher than Key Bank, but they wouldn't defer it because they said it wasn't a true education loan.

Anyways, thought I would try to figure out a way to not have to pay The Man for 18 months.

adreamer · March 31st, 2005, 20:50

They are no charge for 2nd interview. The reason is too much time lapse between my last interview to the potential class date I want.

Heath, based on what I understand, it would take 7 years for the record to be changed. Unless, you file law suit.

adreamer
ps: I might fly over there for interview.

Heath · March 31st, 2005, 21:40

[ QUOTE ]
I also used Sallie Mae and was very happy with the outcome.

Hey Heath how did you get it deferred for 18 months, did you have to claim financial hardship or do you have a different type of loan. Mine is the Career Training loan through Sallie Mae and the interest rate was only 1 percent higher than Key Bank, but they wouldn't defer it because they said it wasn't a true education loan.

Anyways, thought I would try to figure out a way to not have to pay The Man for 18 months.

[/ QUOTE ]

Hmmm, I just checked the box for the 18 month deferral! They didn't give me any grief and my loan shows the payments starting in 18 months. Until then, its just $10/month. Just don't mention my name if you complain, I don't want them to rethink my deal if they goofed!

Heath

montanapilot · April 2nd, 2005, 13:40

what kind of an interest rate did ya'll get for your SLM loans?

Adamallica · April 2nd, 2005, 21:27

Mine is at 8%....not too bad, ends up being about 20 dollars more a month than if I were accepted at Key....

IndianaPilot · April 5th, 2005, 01:48

well....got word from key bank today....denied !!!

they said it was because my dad...my co-signer...doesnt have enough income. he brings in more than 70,000 a year right now....pension, social security, all that. but that wasnt good enough for them. Starting the process with sallie mae tomorow......keepin my fingers croseed

March 29th, 2005, 19:07	#1
IndianaPilot Senior Member Join Date: Jan 2005 Location: Indiana Posts: 424	Key Bank loan Having a little bit of a problem here guys ! Everything has gone very well so far....did the interview, did my phone with with Jim yesterday and got accepted into the program. Now i'm applying for this loan..but i'm learning a few disturbing things. BOTH you and your co-signer need very good credit from what i'm being told. If thats the case...then what is the whole idea of a co-signer ?? My credit isnt the greatest....so my dad is gonna co-sign. Now it looks like it might not happen. Any ideas ?? Contingency plans ?? If this goes sour, where else can i look for financing for this ?

March 29th, 2005, 20:25	#2
CRJDriver Old Skool Join Date: Jan 2004 Location: KBOI Posts: 2,142	Re: Key Bank loan My credit isn't very good either, since I already have a few thousands in loans. I have my dad as a co-signer, and his credit is flawless, so I had problem getting the loan.

March 29th, 2005, 20:33	#3
IndianaPilot Senior Member Join Date: Jan 2005 Location: Indiana Posts: 424	Re: Key Bank loan Did you finally get the loan ? They mentioned something about an appeal if it does get denied. My credit isnt horrible...it just isnt established enough for one thing. And yes, there are a few things on there that would not look good. But my dads credit is flawless....perfect.....so i'm hopin i can work something out. What ended up happening in your situation?

March 29th, 2005, 21:02	#4
CRJDriver Old Skool Join Date: Jan 2004 Location: KBOI Posts: 2,142	Re: Key Bank loan I called Diane at ATP went through the application process with her, and 3 days later I got the loan with no problem.

March 29th, 2005, 21:08	#5
jayllamas Junior Member Join Date: Mar 2005 Posts: 162	Re: Key Bank loan Try sallie mae...they're easier to get money from.

March 29th, 2005, 22:03	#6
SmitteyB Old Skool Join Date: Nov 2004 Location: LGA/ITH/TPA 22" Rollaboard Posts: 2,130	Re: Key Bank loan You can drop your cosigner after 4 years of repayment. Key Bank isn't picky.

March 29th, 2005, 23:24	#7
IndianaPilot Senior Member Join Date: Jan 2005 Location: Indiana Posts: 424	Re: Key Bank loan Yep i talked to Diane today and we did the telephone application thing. She said we should know by tomorow afternoon, but even with a co-signer, my somewhat less than perfect history might hurt me. It's not for sure yet, just possible. Jayllamas i do have a brochure here from sallie mae...i guess maybe that would be my back-up plan if key bank doesnt work. We shall see !! I've got my fingers crossed though.....

March 29th, 2005, 23:26	#8
IndianaPilot Senior Member Join Date: Jan 2005 Location: Indiana Posts: 424	Re: Key Bank loan Yeah Smittey i was always told that also about key bank...that they werent picky. When i talked to Diane today, she said that Key just had some changes, and there is new administration, and just recently they made the process VERY VERY petty and picky...so basically it's changed from what it used to be.

March 30th, 2005, 08:19	#9
adreamer Old Skool Join Date: Jul 2003 Location: AZO Posts: 1,713	Re: Key Bank loan I was in the same boat last year. Well, my Ioan application has been approved after one year of using my 1st ever credit card. Now, I need to re-do my interview this weekend at Chicago. adreamer

March 30th, 2005, 13:30	#10
Brazilian_Pilot Senior Member Join Date: Mar 2005 Location: Chicago Suburbs, IL 1C5 (Clow) Posts: 314	Re: Key Bank loan Wait a Sec... the interview is for the school or for the loan?? Cause im think about key bank also.

March 30th, 2005, 13:37	#11
adreamer Old Skool Join Date: Jul 2003 Location: AZO Posts: 1,713	Re: Key Bank loan The flight school

March 30th, 2005, 16:30	#12
freq_flier Newbie Join Date: Feb 2005 Posts: 6	Re: Key Bank loan Jeez this sucks!!!! My husband and I applied for the loan through Key bank last year, and they said because we are so young, we don't have enough credit. They told us that you need two lines of good credit for two years. They told us that this August we would be approved if our credit was still excellent because in August we will have 2 years of 2 lines of good credit. So, we are crossing our fingers in hopes that it goes through in August!!!

March 30th, 2005, 21:34	#13
jayllamas Junior Member Join Date: Mar 2005 Posts: 162	Re: Key Bank loan My parents were rejected 4 times as co-signers. They had a combination of 750++ on they're credit. Sallie Mae for some reason approved me and I have horrible credit. The problem is they did'nt approve enough. I thought I read somewhere that Dianne assists on getting a loan? Do you think she can bring up my approval a bit?

March 30th, 2005, 21:35	#14
jayllamas Junior Member Join Date: Mar 2005 Posts: 162	Re: Key Bank loan by the way , they were rejected by key bank...i forgot to put it.

March 31st, 2005, 04:05	#15
Adamallica Newbie Join Date: Mar 2005 Location: Crestline, CA Posts: 10	Re: Key Bank loan It took me a week, but I finally got financed with Sallie Mae....I tried 4 different co-signers with Key, but all were denied. Although Diane was a big help, there's nothing she can do if you're denied. Sometimes they will let people appeal by sending in tax returns for the self-employed, but other than that - good luck. If you can get Key, it's definitely better (about 5.8% right now)....My loan with Sallie Mae is at 8%, quite a bit higher. Out of all the things I've had to do to get going with this school, getting financed was the hardest!

March 31st, 2005, 07:36	#16
ETAV8R Senior Member Join Date: Dec 2003 Location: SoCal Posts: 578	Re: Key Bank loan I too was denied by Key. It was a real let down because at that time I was all ready to go. It is still the major hurdle to overcome in order to go to ATP. Hopefully soon.

March 31st, 2005, 10:21	#17
Heath Senior Member Join Date: Oct 2003 Location: Bowling Green, KY Posts: 382	Re: Key Bank loan Screw Key Bank! Go to Sallie Mae. I had a blemish on my credit record that wasn't even mine, disputed it with the credit burea and had it expunged. I provided the proof to Key Bank and they still wouldn't approve me! WTF? Went to Sallie Mae and they approved me within 24hrs with no problems, and the interest rate was just a half point higher than Key, and the deferral was 18 months instead of 6! I WAY recommend SLM, they're easier to work with, and still a pretty good deal. Heath

March 31st, 2005, 13:52	#18
IndianaPilot Senior Member Join Date: Jan 2005 Location: Indiana Posts: 424	Re: Key Bank loan Wow lots of you guys have had problems with key looks like. I talked to them yesterday, and my approval is still pending. They requested recent pay stubs for myself and my dad (cosigner), tax forms, and information on the house payment. We are getting that together and will have it faxed today. From that point they say they would have a decision within 24 hours. Heath from what your sayin about SLM, i almost hope it doesnt go through. That 18th month defferal sounds really really nice. We shall see shortly

March 31st, 2005, 15:22	#19
Texguy Senior Member Join Date: Feb 2005 Location: KAUS Posts: 855	Re: Key Bank loan Why would you have to re-do the "interview"? They better not charge you $100 again.

March 31st, 2005, 18:42	#20
PilotB Junior Member Join Date: Mar 2005 Location: TX Posts: 45	Re: Key Bank loan I also used Sallie Mae and was very happy with the outcome. Hey Heath how did you get it deferred for 18 months, did you have to claim financial hardship or do you have a different type of loan. Mine is the Career Training loan through Sallie Mae and the interest rate was only 1 percent higher than Key Bank, but they wouldn't defer it because they said it wasn't a true education loan. Anyways, thought I would try to figure out a way to not have to pay The Man for 18 months.

March 31st, 2005, 20:50	#21
adreamer Old Skool Join Date: Jul 2003 Location: AZO Posts: 1,713	Re: Key Bank loan They are no charge for 2nd interview. The reason is too much time lapse between my last interview to the potential class date I want. Heath, based on what I understand, it would take 7 years for the record to be changed. Unless, you file law suit. adreamer ps: I might fly over there for interview.

March 31st, 2005, 21:40	#22
Heath Senior Member Join Date: Oct 2003 Location: Bowling Green, KY Posts: 382	Re: Key Bank loan [ QUOTE ] I also used Sallie Mae and was very happy with the outcome. Hey Heath how did you get it deferred for 18 months, did you have to claim financial hardship or do you have a different type of loan. Mine is the Career Training loan through Sallie Mae and the interest rate was only 1 percent higher than Key Bank, but they wouldn't defer it because they said it wasn't a true education loan. Anyways, thought I would try to figure out a way to not have to pay The Man for 18 months. [/ QUOTE ] Hmmm, I just checked the box for the 18 month deferral! They didn't give me any grief and my loan shows the payments starting in 18 months. Until then, its just $10/month. Just don't mention my name if you complain, I don't want them to rethink my deal if they goofed! Heath

April 2nd, 2005, 13:40	#23
montanapilot Old Skool Join Date: May 2003 Location: Portland, Orygun Posts: 1,661	Re: Key Bank loan what kind of an interest rate did ya'll get for your SLM loans?

April 2nd, 2005, 21:27	#24
Adamallica Newbie Join Date: Mar 2005 Location: Crestline, CA Posts: 10	Re: Key Bank loan Mine is at 8%....not too bad, ends up being about 20 dollars more a month than if I were accepted at Key....

April 5th, 2005, 01:48	#25
IndianaPilot Senior Member Join Date: Jan 2005 Location: Indiana Posts: 424	Re: Key Bank loan well....got word from key bank today....denied !!! they said it was because my dad...my co-signer...doesnt have enough income. he brings in more than 70,000 a year right now....pension, social security, all that. but that wasnt good enough for them. Starting the process with sallie mae tomorow......keepin my fingers croseed

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