Credit score for loans

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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stintez
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Credit score for loans

Postby stintez » Tue Jun 01, 2010 1:04 pm

So apparently you have to have a great credit score to get loans for LS? What would an acceptable score be. I want to make sure that I spend the rest of this year getting my better.

Leeroy Jenkins
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Re: Credit score for loans

Postby Leeroy Jenkins » Tue Jun 01, 2010 1:10 pm

stintez wrote:So apparently you have to have a great credit score to get loans for LS? What would an acceptable score be. I want to make sure that I spend the rest of this year getting my better.

lawl good luck with that

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pleasetryagain
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Re: Credit score for loans

Postby pleasetryagain » Tue Jun 01, 2010 1:14 pm

stintez wrote:So apparently you have to have a great credit score to get loans for LS? What would an acceptable score be. I want to make sure that I spend the rest of this year getting my better.


you dont need a great credit score for federal loans. you just can't have bad credit i.e. bankruptcies, charge offs, 90 day delinquencies, etc. Private loans, though, require good credit or a cosigner. keep in mind a good credit score is only necessary for a private loan, not sufficient.

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YCrevolution
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Re: Credit score for loans

Postby YCrevolution » Tue Jun 01, 2010 1:31 pm

..

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Doritos
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Re: Credit score for loans

Postby Doritos » Sat Jun 05, 2010 6:51 am

The only reason your FICO score (aka credit score) would come into play is if you wanted Private Loans. Rev speaks the truth with regard to federal loans and those cover your cost of attendance (schools combine tuition, fees, books, and an estimate for housing and living expenses to come up with cost of attendance). So unless you have a bunch of debt that you will have to pay on in law school (car loan, mortgage, lots of credit card debt) you should be fine with federal loans.

2011Law
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Re: Credit score for loans

Postby 2011Law » Mon Feb 14, 2011 3:07 pm

Doritos wrote:The only reason your FICO score (aka credit score) would come into play is if you wanted Private Loans. Rev speaks the truth with regard to federal loans and those cover your cost of attendance (schools combine tuition, fees, books, and an estimate for housing and living expenses to come up with cost of attendance). So unless you have a bunch of debt that you will have to pay on in law school (car loan, mortgage, lots of credit card debt) you should be fine with federal loans.


Sorry to bump an old thread, but just saw an 11 month old $80 collection that brought my score down to 660. Just paid it right now.

Wondering if this post was right, that you can pay the entire CoA with federal loans? What is the maximum amount of these loans you can take out?

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YCrevolution
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Re: Credit score for loans

Postby YCrevolution » Mon Feb 14, 2011 3:12 pm

..

too old for this sh*
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Re: Credit score for loans

Postby too old for this sh* » Mon Feb 14, 2011 3:52 pm

2011Law wrote:
Doritos wrote:The only reason your FICO score (aka credit score) would come into play is if you wanted Private Loans. Rev speaks the truth with regard to federal loans and those cover your cost of attendance (schools combine tuition, fees, books, and an estimate for housing and living expenses to come up with cost of attendance). So unless you have a bunch of debt that you will have to pay on in law school (car loan, mortgage, lots of credit card debt) you should be fine with federal loans.


Sorry to bump an old thread, but just saw an 11 month old $80 collection that brought my score down to 660. Just paid it right now.

Hopefully you were able to negotiate a deletion when you paid the third-party. Ideally, you would like to have a report that is free of the taint of a collection item.




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