Okay I have a question about Sallie Mae. I am getting ready to go to this 4 week school in Santa Ana. The course costs about 7000.00 and can be financed through sallie mae. I was wondering how hard is it to get a loan throgh them and which credit report do they look at. Usually what scores do you need to have in order to qualify for any of their loans. any help on this situation would be appreciated. D
All I know about with Sallie Mae is that when you're talking about a college, with federally guarenteed Stafford loans, that they're extremely easy to get (assuming you have no defaulted student loans) yet I got refused trying Sallie Mae on a non college degree seeking loan. I'm not sure what report they looked at when I applied, wasn't into the mood of checking all three of my credit reports at the time. But I would expect it to be almost as strict as getting a signature loan from your bank / credit union. Sorry I couldn't be more help. ChrisB
Dario...couple things: 1. If the 4 week course doesn't give you an accredited degree or certification, it's most likely useless in the job market. So if you are looking for something to add to your resume regarding a degree or certification, make sure you know what your're paying $7k for. 2. Sallie Mae is easy to get as long as you don't have any defaulted loans. If they deny you, do you have a co-signer?
Sallie Mae denied me (which I expected), but then when I added a co-borrower, they denied him as well. He doesn't have any defaulted or lates on his student loans, but he does have balances totalling around $40K in student loans. All have perfect pay history and are currently in forebearance.
Thanks for your help. But it is a school in Santa Ana, CA. This school actually teaches you how to be a finance and insurance person at a car dealership. A friend of a friend told me about it and I checked it out and seems to be pretty good. They let me sit in during a class and some of the stuff that I learned in that hour would have made your head spin. Anyway I checked out the sallie mae website and noticed that the school is actually listed in the drop down list, I don't know if that's a good thing or not. I also know that they accecpt the GI Bill (which I would like to use) but I would only be able to use aobut 2000.00 from the gi bill so I would have to finance the rest. And as far as transfering credits, they are good at 1 school in texas, which I would assume can be transferred anywhere. anyway thanks for the help. I have a few weeks before I need to apply I will just wait until later to see what happens. D
Damn, I screwed up my user name when I registered. lol It should've been chris.zeman. Anyways... Sallie Mae once cared about students, but that doesn't seem to be the case anymore. I would steer clear of Sallie Mae or any of its affiliates. Sure, you'll find a large number of borrowers that are perfectly happy with Sallie Mae. You'll also find an alarmingly large number of borrowers, including myself, that have been screwed by Sallie Mae. It is simply NOT worth the gamble to find out which group you'll be part of. There are many borrowers out there who haven't even realized they have been taken advantage of yet. (Edited Out by Moderator) Christopher Zeman (Edited Out by Moderator)
I would like to offer my apologies. I have been told that my previous message, which I posted on several forums, was SPAM. I don't condone SPAMMING. Actually, I HATE it!!! I did not and do not believe my message was SPAM, but that's really up to the moderators of the individual forums. I felt that my message was acceptable because of the nature of the threads I posted it. Let me be clear that I did not simply find random message boards and start new threads advertising my site. I found thread topics where people were either: discussing problems they've had with Sallie Mae. debating whether or not to go with Sallie Mae as their lender. inquiring about Sallie Mae's reputation. discussing recent events directly involving Sallie Mae. I hope you can understand why I felt I was making an honest contribution to a topic. Once again, I apologize if I was wrong. Thank you, Chris
