Low Rate student loan


My boyfriend’s ex girlfriend (whom he was with for 3 yrs) prior to me, asked him to “cosign” a $10,000 student loan for her. Personally I think its just another way for her to hold on to him and stay present in his life, so they have “reason” to talk or, if need be, meet up.

But regardless of that, I think asking someone to “cosign” for you is kind of a big/personal favor to ask AND as for him… agreeing to cosign a loan seems like a pretty BIG commitment to make to an ex especially when you consider the amount AND, the fact that you live with your current girlfriend (whom you’ve been with for over a year). Am I wrong?

Its an Education Maximizer Loan through Bank of America for $10,000. Since the day she asked him to do this they’ve been dealing with trying getting this loan approved for almost a month now (since Sept. 28). And since that day she asked him to cosign, they talk to each other 2, 3, 4 times a week and see each other maybe once a week … you know, for “loan” stuff. And of course, I am never told any of the phone calls, her stopping by his work, or him running by her house. I have to look in his phone (which is shady) and confront him about it.

And maybe I am crazy to be completely irritated by this whole situation but, in my opinion, the involvement they’ve had with each other over the past month seems to be a little excessive for cosigning a loan. No?

She txt him to tell him that the loan was finally approved yesterday and the check will getting here this Thursday morning. Then she follows up by asking him what he’s doing that morning because, and I quote, “we both have to go to the bank and be there to cash the check.” In which he respond to her text by calling her. Is this the usual procedure for borrower/cosigner? Does he REALLY have to be there to cash HER loan check? How much involvement is really necessary, or does this seem excessive to you too? As cosigner, what does his involvement REALLY consist of? Maybe I am totally out of line but I really feel like they are both over stepping some boundaries. I had to ask someone who was familiar with student loans and the involvement between borrower/cosigner because I think ENOUGH is ENOUGH!

Thank you so much for your time.

Real Estate Professionals

Categories : student loan
Comments (5)
student loan deal

So here is the deal. I attended the University of Texas for 2 years when my husband (Marine) got stationed in San Diego right when the semester started. I tried to hang in there despite being away from my husbnand and living at home with my parents. Well, as you know I had to be with my husband because he was getting deployed and to make a long story short….I dropped my classes and came to SD with him. Now that I want to attend school in SD, The University of Texas says I owe them almost $2,000 and I would have to pay atleast half for the to release my transcript! I’m in limbo…..what should I do?

How can I get a scholarship if I’m not in school?
What is the best way to get back into school?

Real Estate Professionals

Categories : student loan
Comments (4)
student loan deal

Current interest is about 6.7% but these private loan people are jerks. Would I get a crappier deal from a bank?

(it’s a general question, I know, just tell me anything you know off the bat that I could be missing)

Rent Back Fast

Categories : student loan
Comments (4)
student loan deal

Here is the deal, I have some student loans with Sallie Mae that are on deferment for a school I graduated from but now I am enrolled at a community college for additional certifications for my career. At the community college I am paying out of pocket and will NOT take another loan out with Sallie Mae.

On my account Sallie Mae states that my enrollment period is until 2011 and I won’t have to make any payments until then.

Unfortunately after I registered for Fall 09 classes, I was laid off and can no longer afford to go to school in the fall so now I have to drop my classes.

I am terribly worried that Sallie Mae will find this out and ask me to pay off my loans despite the fact that I no longer have a job (though I am looking for one! But there is NOTHING out there).

YES I do plan on paying my loan, but how can I if there is no income?? (this question is rhetorical)

So my real questions are :

Will they find out that I am no longer enrolled even if I don’t report that I dropped out? (if anything I do plan on returning to class next Spring if I get a job by then)

Will the college report to them that I dropped out?

Or will they check in on the college to see if I am still enrolled?

My account doesn’t have the repayment issued until 2011 but that is only if I am enrolled in school until then….

Any info would be greatly appreciated!

Quick Property Sale

Categories : student loan
Comments (2)
debt consolidation

if you already have one loan, what if it’s differed due to disability? How does this work?
Can you apply for a student loan after debt consolidation?
if you already have one loan, what if it’s differed due to disability? How does this work?
At the time the first loan was taken out (it was for around 4,000 and it was to a school that was a scam, but they got away with itbecause they knew the ins and outs of pulling off their scam very well. . so I’m asking about applying for another loan / consolidation, not discussing the previous one.

Sell House Quick
Categories : debt consolidation
Comments (2)
student loan

I am trying to get a student loan, because I need to be able to pay for an apartment and need to get a new vehicle. I am working but I’m only making minimum wage and its not enough. How do i get a student loan that will send me the money instead of the school?

Sell House Quick
Categories : student loan
Comments (0)
Oct
09

What type of student loan should I get? ?

Posted by: | Comments (1)
student loan deal

I am going to be transferring from a community college to a university fall 2009. I was wondering where I can get the best deal on student loans.. From my bank, from my credit union, or from the government? Who tends to give the lowest interest rates? Thanks!

Quick Property Sale
Categories : student loan
Comments (1)
student loan deal

I wonder if I’m even eligible to do it because I owe a great deal on my own student loan. I’m not on default now but I have been on default once. Does anyone know if I’m eligible to cosign?

Rent Back Fast
Categories : student loan
Comments (2)
student loan deal

I had heard that Federal loans are a bettter deal. Anyone?????

How do we work through the maze of financial aid. Any advice on available scholarships that might be easy to obtain?

Sell and Rent Back

Categories : student loan
Comments (8)

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