A few days ago
Noah

Am I eligible for a $25,000 Undergrad Student Loan From Sallie Mae ?

Im starting undergrad school for a second time, my last time in school I didn’t do well.I have loans that I have consolidated threw Sallie Mae and I have no loans in default,All payments are current and on time for 3 years now.

I have fair credit, my score is 630-638.I have no bad marks on my credit at all.All positive.I’ve worked at my Job for almost 7 years.I have a bank account I’ve had for 5 years.I have one credit card in good standing.

I would like to go to Sallie Mae for a $25,000 loan for undergrad studies.My question is from reading my above history.is it realistic for me to be eligible for this amount ?

Also how long does a loan take to process?

Can i get a loan after I enroll…? Or do I have to wait to register also..?

THANKS FOR THE REPLIES, TIME AND BEING HELPFUL..THANK YOU…

Top 3 Answers
A few days ago
Anonymous

Favorite Answer

Go through your schools fin aid office to get the loans. You want Subsidized loans if at all possible, but Unsub are pretty good too. Your new loans will likely be bought by Sallie Mae once you quit school or graduate, just like your old once were. So there really isn’t a need to go through them, they’ll end up there anyway. If you do go through them, just make sure you are getting a sub or unsub Stafford or Perkins loan and not one of their new high interest private loans. I’ve attached a good publication that has the minimum and maximum loan amounts based on your dependency status and classification.
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A few days ago
Anonymous
Just apply at http://www.salliemae.com and see if you qualify without a co-signer or not…….

The school’s FA aid decides the actual amount you get, sallie mae doesn’t decide your loan amount.

It absolutely sucks to have others so in control of your life especially since the money affects your ability to get a GPA or even be able to complete your degree plan at all!

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A few days ago
Anonymous
You can probably be approved for the loan since you have a job and a decent credit score. They usually take anywhere from 30 minutes to 1 week for the answer(1 week if you are applying with a cosigner). When approved, it takes 1-2 weeks to get funded.

I tried this company and they turned me down, but I just filed bankruptcy 1 year ago….I was approved with a cosigner…but have none.

You can apply any time while in school.

Good luck!

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A few days ago
SisterSue
Why aren’t you applying for federal loans through your school and fafsa.gov (or .edu, can’t remember)? The interest rates are much better.

You are going to have to pay the fee to the college and apply, at the same time apply for loans through the financial aid office. There is no reason why you aren’t eligible for federal loans unless the school doesn’t offer them? Maybe it isn’t a 4 year college..

Anyways, once you go back to school, assuming its a university or CC then your loans should ideally go on deferment.

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