Applied, but didn't get accepted unless I added a cosigner. Parents agree to cosign but want details beforehand. So I call them and ask a few questions but don't really get any useful info.
I asked them what the interest rate would be and they told me I'd know only after I got the loan. Ok, so after I'm committed to the loan, I find out how much I'm actually paying them? Doesn't sound very good.
Asked if the money could be sent to me, but got told that the money is sent to the school. Asked what happens if school closes, and they said that insurance covers the full amount. Question though, if insurance covers it, why is it that I hear of people losing thousand of dollars because they have money in account with a school and the school closes? Where has this insurance been?
I don't like it how they seem to be hiding info from me so far. Will probably go to my bank instead if I can get a decent interest rate.
Any suggestions besides telling me not to get a loan? I know the "train as you go" route is optimal, but the way it is going right now, it is either pay the bills or flight train.
I asked them what the interest rate would be and they told me I'd know only after I got the loan. Ok, so after I'm committed to the loan, I find out how much I'm actually paying them? Doesn't sound very good.
Asked if the money could be sent to me, but got told that the money is sent to the school. Asked what happens if school closes, and they said that insurance covers the full amount. Question though, if insurance covers it, why is it that I hear of people losing thousand of dollars because they have money in account with a school and the school closes? Where has this insurance been?
I don't like it how they seem to be hiding info from me so far. Will probably go to my bank instead if I can get a decent interest rate.
Any suggestions besides telling me not to get a loan? I know the "train as you go" route is optimal, but the way it is going right now, it is either pay the bills or flight train.