Applying for graduate private loans after Chapter 7

[psalm_11]

Hey you all, I'm new here, but have a pretty desperate question. I'm looking to start grad school in January of next year, but am having the WORST time trying to secure a private loan for living costs. The issue is that my school is not technically considered a grad school, it's more of a private school, so I definitely would need a private loan.

I filed for bankruptcy in 2003 and of course that's a hurdle for me getting the loan, but I'm also having a problem with the co-borrower thing. I've asked a few of my friends who have good credit and they are not trying to go down that road because of the stigma basically attached to being a co-signer and I've tried applying with one co-borrower and still got denied

So just looking for some advice maybe on who some decent sub-prime lenders may be or if anyone else has had a similar situation and what happened with that. Thanks!

[CindyLou]

My only suggestion it to find an accredited school to attend. other than that, a private educational loan in not easier to get than a credit card with a similar limit. Unfortunately, unless it is a government backed loan it will be based SOLEY on your credit. Good luck.

[HHM]

Ummm, if its not accredited, then it's not really grad school is it? Degrees and certificates can only be offered if there is "some" body that grants the school accredidation. I'd be a little leary of attending a school where students cannot get governement loans or grants to attend (unless its a type of vocational school).

What school, or what program are you thinking about attending.

[Grace]

Don't be upset with your friends for not co-signing for you. Co-signing is one of the worst financial moves a person can make. What you're asking your friends to do is be responsible for your debts because a large banking institution doesn't trust you. Chances are high you'll default, and that will leave them with the whole bill and could even force them into bankruptcy. Why would you want that for your friends?

Student loans should only be taken out in an amount reasonable in comparison to the potential salary once the degree is completed. For example, one shouldn't take out loans of $100,000 if the average salary for such a degree is $25,000 a year.

Given that this may not even be an accredited school, you really need to look at this situation carefully.

[Princesskina]

Ummm, if its not accredited, then it's not really grad school is it? Degrees and certificates can only be offered if there is "some" body that grants the school accredidation. I'd be a little leary of attending a school where students cannot get governement loans or grants to attend (unless its a type of vocational school).

What school, or what program are you thinking about attending.

I know nothing about your situation but being in the "education field" I do know that if it's not offering GOVERMENT loans than it's not accredited and your degree's may not hold any real weight. Are u sure it's not a "vocational program" and what type of degree is it. You dont want to invest your money on crap.