Student Loans

You might want to check with Chase for a loan like that, because I actually had a colleague back in college who looked into something similar

A co-signer would have to be someone close to you, though honestly, your best bet is just to head down to the branch and see if they’d be willing to let your parents step in as guarantors

I JPMorgan Chase is offering student loans right now.

c/p:
Collateral requirements:

* Up to $10,000 without any extra security
* From $10,000.01 to $20,000.00 requires a co-signer or life insurance policy plus a 10% deposit, or a mortgage at a 1:1.5 ratio
* From $20,000.01 to $40,000.00 requires a mortgage at a 1:1.5 ratio

To be honest though, I’m not sure how smart it is to take out a loan like this. I know it's pretty common over there, but given the current state of things in the US—plus who knows what happens once you graduate and try to land a job?
Based on your grades and competition results, getting into a university with federal financial aid shouldn't be an issue. Honestly, those regional competitions don't carry much weight. They really only care about the top three spots from national competitions. 😉

You should probably check if that university offers any kind of scholarships, or maybe they could even point you toward a specific bank for student loans
Honestly, your best bet is just asking them directly

gentlecanyon12 said:Hey there! I have a quick question... I'm finishing up my senior year of high school and I'm planning to attend the Wharton School. As most of you know, it's a private institution, and the tuition is about $4,600 a year. Unfortunately, my parents can't cover this right now because they just took out a $110,000 mortgage a few months ago with a 12-year repayment term. I've been looking into student loans that don't require repayment until after graduation, and I noticed that Chase Bank has some really great options. My main question is: is it possible for me to get this loan if the bank agrees to be the co-signer? My parents won't be able to act as co-signers since they're already heavily leveraged with their own debt. On a side note, I've been an honors student throughout high school and have taken first place in several county-wide academic competitions. Does that kind of track record influence a bank's decision? Personally, I feel like I'm a much safer bet for future repayment than a student who hasn't shown that level of consistent success.

Thanks in advance.

I’d suggest heading down to JPMorgan Chase to talk to someone in person; there might be an option for that...

You might as well just take those regular economics courses for free...

It’s basically a free ride at a much better university.

Hey everyone,
It’s looking pretty certain that I’ll be moving abroad to pursue my studies—specifically an MBA—and I’m starting to weigh my options regarding student loans. Honestly, I don't have the kind of cushion to just write a massive check and cover everything out of pocket without some help 😢
I’ve been browsing through different banks, and right now, JPMorgan Chase seems to be offering the most decent rates...

Has anyone here dealt with student loans before? I’d love to hear about your experiences with various lenders and how they actually treat you

Just to be clear on my long-term plan: once I wrap up this degree, I don't see myself ever coming back to the States. My goal is to stay abroad and pay off the debt using a much higher salary from a career there.
One catch, though, is that my employment isn't always steady 😢

Thanks in advance for any advice or guidance you can offer

Hey everyone, sorry if this is being asked already, but I skimmed through the threads and didn't see anything. This might be a stupid question, but I have zero experience with loans—for better or worse.

I’m trying to figure out how to secure a student loan for next year. From what I’ve gathered, you don't need a co-signer, but you do need to be creditworthy. I don't really get how they expect me to have a credit score when I'm transitioning straight from high school to college. Plus, with the way academic workloads are now, there's basically no way for me to work while studying, which means I'm not earning anything.

please help,
thanks

jadecobra0 said:Hey everyone, sorry if this is being asked already, but I skimmed through the threads and didn't see anything. This might be a stupid question, but I have zero experience with loans—for better or worse.

I’m trying to figure out how to secure a student loan for next year. From what I’ve gathered, you don't need a co-signer, but you do need to be creditworthy. I don't really get how they expect me to have a credit score when I'm transitioning straight from high school to college. Plus, with the way academic workloads are now, there's basically no way for me to work while studying, which means I'm not earning anything.

please help,
thanks

You've got that part wrong.

I remember how it used to be—and I’m pretty sure things haven't changed much since then—that when you took out a student loan, the debt was officially in the student's name, even if your parents were the ones acting as guarantors or putting up property as collateral... you just settled the bill once you actually finished your degree, or if you decided to drop out entirely
so, basically, it functioned like some kind of deferred check

Hi there!

So, I have a few questions about these student loans...
What are the requirements besides having a co-signer? Specifically:
-Is it true you have to pass all your exams on schedule? If so, what happens if you fail one?
-Do I need to prove the money is strictly for tuition and school costs? For example, I’d actually love to take out a loan to renovate my apartment... but I don't really have a reason to qualify for financial aid, like living far from NYC or dealing with massive tuition fees.

I'm currently a sophomore in college here in NYC..

Thanks so much for any help!

I’ll jump in here just to avoid starting a whole new thread about loans...
When you're looking at an unsecured personal loan—say, something up to $10,000—I'm curious about what kind of protection the bank actually has regarding my ability to pay. If I were to lose my job or find myself unable to cover the monthly installments, and there are no co-signers involved, who ends up carrying that risk?
I'd appreciate a bit more detail on how those specific unsecured loans under $10k actually function.

Wait... are we even talking about student loans or personal loans here? Because let’s be real—with either one, you're on the hook to pay it back whether you have a steady paycheck or you're totally broke. It's one of those things where you really need to sit down and crunch the numbers before you sign anything. You can't just flake on a bank. They aren't going to take your "I don't have a job right now" excuse lightly. They will come after you, period. And once they start, the costs spiral out of control with all those late fees, collection notices, penalties, interest hikes, and...

I’m looking into taking out a loan to study abroad—specifically in the USA.

I want to know if anyone here has been through this. Is there actually a two-year grace period before repayment kicks in? Also, what kind of collateral or guarantees is the bank going to demand?

The loan amount is pretty steep—around $160,000. To get a student visa for the States, you have to prove you can cover the full tuition plus living expenses, flights, food, and all that other stuff upfront.

Right now, I’m working full-time and I'm also a part-time student, if that matters for the application process.

Thoughts, experiences, or advice... anything helps.😉

To be honest, I'm not sure. I actually have my doubts about you being able to secure
. If someone with a steady job can't pull enough together for a mortgage, I really don't see how you'll make it happen
. Best of luck to you, though
.

I find myself wondering about a specific scenario regarding the post-graduation period: what actually happens if a student reaches the end of their one-year grace period after finishing university and still hasn't managed to secure a job?

I suppose you should just find some kind of job—any job, really—to help manage those loan repayments 🤷

Has anyone here actually dealt with student loans lately? I’m looking for some real-world, recent experiences—not just the fine print from a brochure.
I just need a modest amount to cover my tuition and basic living expenses... honestly, if the economy weren't such a mess right now, maybe I could just borrow it from someone, but nobody has anything to spare these days.
I heard a rumor that one of the big banks was offering loans without needing a co-signer, though I can't for the life of me remember which one it was.

I’ve got a question about my situation. I’m currently a full-time student studying abroad in Austria—been at it for two years now—and I also have a little baby at home. Does having a kid affect my creditworthiness or anything like that? Also, is it even possible to qualify for a student loan here in the States if I’m studying overseas and am already a parent?

Honestly, I probably need the loan more for the baby than I do for myself...

From what I gather regarding these student loans, the student is technically the debtor—though let’s be real, most of them have zero credit worthiness at their age—which is why they require a co-signer who actually has a solid credit score to back them up... These loans are strictly earmarked for educational expenses, meaning they have to be used for tuition and school costs (whether you're studying stateside or abroad), and once the bank approves the funds, the money goes directly to the university's account... You can't just grab that cash to cover your daily living expenses or go out and buy a new baby carriage, for crying out loud.

Yo, does anyone actually know which student loan is the best deal RIGHT NOW?

Kimberly Nguyen said:From what I gather regarding these student loans, the student is technically the debtor—though let’s be real, most of them have zero credit worthiness at their age—which is why they require a co-signer who actually has a solid credit score to back them up... These loans are strictly earmarked for educational expenses, meaning they have to be used for tuition and school costs (whether you're studying stateside or abroad), and once the bank approves the funds, the money goes directly to the university's account... You can't just grab that cash to cover your daily living expenses or go out and buy a new baby carriage, for crying out loud.

Wait, so does that mean I'm out of luck if I have a full ride based on my SAT scores?