Currently in a pickle...I'm 26 and have 8 years of credit history. I've maxed out on my federal student loans, and have been looking into private student loans. My credit score is a 760, and both my parents have credit scores below 600. It's hard because all the private lenders I've been looking into have been offering me higher interest rates, with or without my parents as a cosigner :( I feel like it's unfair because I've proven that I can pay things back
Unfortunately, private lenders can put their own requirements on their loan applications. Maybe you can try credit unions? They are smaller "banks" that might offer more flexibility on their requirements.
Can you start paying the loan right away I mean can I pay for my daughter's loan like the following month if she receive the check today does it work like a credit card where I can start paying for the minimum that way it won't build up... thank you
You should review the loan's policies before deciding. You will need to take into account your future cash flow. If you get a disbursement later in the academic year, you may be subject to a higher interest rate.
