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Bar study loans

Posted: Tue Apr 26, 2016 6:39 pm
by meika02
Are there any other options for bar study loans?? I have been turned down by the lenders approved for my school (Discover, PNC, Sallie Mae and Wells Fargo). What should I do?

Re: Bar study loans

Posted: Tue Apr 26, 2016 7:02 pm
by Bartaker7277
I got one from Sallie Mae by having a co-signer. Did you try having a co-signer?

Re: Bar study loans

Posted: Tue Apr 26, 2016 7:07 pm
by AspiringCALawyer
meika02 wrote:Are there any other options for bar study loans?? I have been turned down by the lenders approved for my school (Discover, PNC, Sallie Mae and Wells Fargo). What should I do?
You don't say why you were turned down. I was turned down back in 1998 due to a bankruptcy still on my record from 1989. Since I had financed a car with Key Bank (formerly Society), I wrote a letter to the CEO pleading my case about my positive track record with paying off the car over 5 years. I also stressed that the bar loan would be my only way to be able to take the bar and eventually get a job in my field. It was persuasive enough for me to get the $5K loan. I have since paid that loan off too.

If you can't find another bank, I would appeal to family/friends (if that is an option); however, I would treat it like a loan (including a signed contract) and not a disguised gift (i.e., actually pay it back). Are credit cards an option? Selling something?