the new guy

cg8156 · January 22nd, 2008, 20:24

hey guys,

I just my 1st class med about 2 wks ago. I thought that was going to be the hard part. But as I am finding out, the financing is the hard part. Was just told I needed a cosigner for salliemae. I have noticed that quite a few people need a cosigner with salliemae. I was wondering if anyone had any suggestions or alternatives? Thanks for any info you guys can spare.

jetguy35 · January 22nd, 2008, 20:50

I needed a cosigner for both loans I got. One loan is for 30,000 and the other loan is for 40,000. They wouldn't give me a loan without a cosigner. One is with Sallie Mae and the other is with TCF. If you make good payments for like 2 years or so, they will try to release the cosigners.

Ben

jacksonwages1 · January 22nd, 2008, 20:53

I got my whole loan through Wachovia, but it did require a co-signer.

jetguy35 · January 22nd, 2008, 21:08

Quote:

Originally Posted by jacksonwages1

I got my whole loan through Wachovia, but it did require a co-signer.

I have a funny story about Wachovia. I went to them first for my loans. I filled out the Loan App with my cosigner and I got denied instantly. Haha funny right?

Ben

jacksonwages1 · January 22nd, 2008, 21:45

Quote:

Originally Posted by jetguy35

I have a funny story about Wachovia. I went to them first for my loans. I filled out the Loan App with my cosigner and I got denied instantly. Haha funny right?

Ben

Well, I got denied alone with Wachovia, then I got a 10k counter-offer from SLM on my own, then I got approved through Wachovia with a co-signer.

SoonerAv8r · January 22nd, 2008, 21:48

I too went through Wachovia. Initial application was denied, but with wife as co-signer approved. Since they are not loans backed by federal funds ie traditional student loans... They are just real reluctant to hand over what boils down to be a signature loan for 70K without a co-signer. I have a credit rating of 720 and I expect anyone approved without a co-signer will have a rating ov 750 or higher.

Just my opinion....for what it's worth.

blee256 · January 23rd, 2008, 03:16

70 grand?? is that what i costs now to attend ATP?

BronxATP · January 23rd, 2008, 09:09

Quote:

Originally Posted by blee256

70 grand?? is that what i costs now to attend ATP?

Yep, I sold my soul for 75k!

Ducky · January 23rd, 2008, 13:14

that is one funny avatar jacksonwages1 i seen in a while.

jetguy35 · January 23rd, 2008, 13:44

Quote:

Originally Posted by BronxATP

Yep, I sold my soul for 75k!

I too sold mine for 70K

Ben

KC Jake · January 23rd, 2008, 13:47

Quote:

Originally Posted by BronxATP

Yep, I sold my soul for 75k!

I think I just threw up a little.

matt152 · January 23rd, 2008, 17:54

I applied to Wachovia alone; got prime + 3%. Then I reapplied with a cosigner and got prime. Loan amount requested and received in both cases was $45,000.

nkoenig · January 23rd, 2008, 18:47

Quote:

Originally Posted by matt152

I applied to Wachovia alone; got prime + 3%. Then I reapplied with a cosigner and got prime. Loan amount requested and received in both cases was $45,000.

what kind of payment are you looking at for that amount?

jacksonwages1 · January 23rd, 2008, 20:03

Quote:

Originally Posted by nkoenig

what kind of payment are you looking at for that amount?

Way too much!

cg8156 · January 23rd, 2008, 20:15

sound like a journey ahead.

just got a counter offer for 20 g's. not even a third. with a cosigner. our debt to income ratio to high i guess. i figured since i have an account with salliemae already for some other school loans, they would show a grattitude. maybe i expect too much.

maybe i could split it up.

jetguy35 · January 23rd, 2008, 23:13

Quote:

Originally Posted by jacksonwages1

Way too much!

You said it. Couldn't agree more!

Ben

JrsyGuy · January 24th, 2008, 05:13

Quote:

Originally Posted by cg8156

sound like a journey ahead.

just got a counter offer for 20 g's. not even a third. with a cosigner. our debt to income ratio to high i guess. i figured since i have an account with salliemae already for some other school loans, they would show a grattitude. maybe i expect too much.

maybe i could split it up.

yeah i had previous loans with sallie mae and they threw me a low counter offer with a cosigner. i went then to wachovia and they approved me for the full amount. as you said so much for gratitude. iv payed them on time for 2 years now and am almost done paying off the initial loans and they flat out denied me and gave my cosigner the counter offer.

matt152 · January 24th, 2008, 09:17

Quote:

Originally Posted by nkoenig

what kind of payment are you looking at for that amount?

About $330 a month at the current rate. Which is about $30 more than my Civic payment was before it was paid off. Guys that are getting the entire amount financed are looking at $700+

nkoenig · January 24th, 2008, 10:10

Quote:

Originally Posted by matt152

About $330 a month at the current rate. Which is about $30 more than my Civic payment was before it was paid off. Guys that are getting the entire amount financed are looking at $700+

That's not too bad for 45k. Doable IMO

cg8156 · January 24th, 2008, 20:12

Quote:

Originally Posted by JrsyGuy

yeah i had previous loans with sallie mae and they threw me a low counter offer with a cosigner. i went then to wachovia and they approved me for the full amount. as you said so much for gratitude. iv payed them on time for 2 years now and am almost done paying off the initial loans and they flat out denied me and gave my cosigner the counter offer.

if you dont getting a little personal, what was the amount you financed and what are your payments lookin like with wachovia?

January 22nd, 2008, 20:24	#1
cg8156 Newbie Join Date: Dec 2007 Location: jacksonville Posts: 4	the new guy hey guys, I just my 1st class med about 2 wks ago. I thought that was going to be the hard part. But as I am finding out, the financing is the hard part. Was just told I needed a cosigner for salliemae. I have noticed that quite a few people need a cosigner with salliemae. I was wondering if anyone had any suggestions or alternatives? Thanks for any info you guys can spare.

January 22nd, 2008, 20:50	#2
jetguy35 Junior Member Join Date: Dec 2007 Location: Algonquin, IL Posts: 51	Re: the new guy I needed a cosigner for both loans I got. One loan is for 30,000 and the other loan is for 40,000. They wouldn't give me a loan without a cosigner. One is with Sallie Mae and the other is with TCF. If you make good payments for like 2 years or so, they will try to release the cosigners. Ben

January 22nd, 2008, 20:53	#3
jacksonwages1 Newbie Join Date: Jan 2008 Location: Panama City Posts: 21	Re: the new guy I got my whole loan through Wachovia, but it did require a co-signer.

January 22nd, 2008, 21:48	#6
SoonerAv8r Junior Member Join Date: Jan 2008 Location: Tulsa, OK Posts: 88	Re: the new guy I too went through Wachovia. Initial application was denied, but with wife as co-signer approved. Since they are not loans backed by federal funds ie traditional student loans... They are just real reluctant to hand over what boils down to be a signature loan for 70K without a co-signer. I have a credit rating of 720 and I expect anyone approved without a co-signer will have a rating ov 750 or higher. Just my opinion....for what it's worth. Last edited by SoonerAv8r; January 22nd, 2008 at 21:48. Reason: typo

January 23rd, 2008, 03:16	#7
blee256 Old Skool Join Date: Oct 2002 Location: lower canada Posts: 1,611	Re: the new guy 70 grand?? is that what i costs now to attend ATP? __________________ According to a report by Goldman Sachs economists, "the most important contributor to higher profit margins over the past five years has been a decline in labor's share of national income."

January 23rd, 2008, 13:14	#9
Ducky Junior Member Join Date: Oct 2007 Location: @ home and bored Posts: 211	Re: the new guy that is one funny avatar jacksonwages1 i seen in a while. __________________

January 23rd, 2008, 17:54	#12
matt152 Junior Member Join Date: Dec 2007 Location: Simsbury, CT Posts: 92	Re: the new guy I applied to Wachovia alone; got prime + 3%. Then I reapplied with a cosigner and got prime. Loan amount requested and received in both cases was $45,000.

January 23rd, 2008, 20:15	#15
cg8156 Newbie Join Date: Dec 2007 Location: jacksonville Posts: 4	Re: the new guy sound like a journey ahead. just got a counter offer for 20 g's. not even a third. with a cosigner. our debt to income ratio to high i guess. i figured since i have an account with salliemae already for some other school loans, they would show a grattitude. maybe i expect too much. maybe i could split it up.

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