Fed Financial
Do I really need a full-time job to get a student loan?
I want to apply for a private student loan (I qualify for Unsubsidized Stafford loans ONLY) in August for the fall semester. I thought I would qualify for a private loan based on the fact that I will have 4+ years of employment, 2 years of positive credit history (thanks to an auto loan with no cosigner and all timely payments), and a year at my current residence. However, I was reading the Chase website (in the FAQ about Chase private student loans) about requirements for getting a loan, and they say that in order to qualify I need to have had a FULL-TIME job for the PAST TWO YEARS, and to CONTINUE working this full-time job DURING school. What? The whole point in getting a loan is so that I can focus on school! (and I plan on doing 18-20 credit hours). I haven't had full-time employment, and there's no way I can be full-time employed and doing this much classwork. I can do part-time but not full-time! is a full-time job really a requirement? Or is this exclusive to Chase? Edit: Yes, I understand the risks associated with student loan debt. No, there is no possibility of a cosigner. ah, more details. I have filed for FAFSA. I have $1750 stafford loan through Direct Loans, and $1750 loan through LaSalle Bank. I qualify for no other private loans. oops, I meant I qualify for no other GOVERNMENT loans.
Public Comments
- Probably exclusive to chase. I went to college on student loans and I had never once in my life had a job back when I got it. So, I am sure you can get one without one. Maybe you will need to get it through someone else. I got mine from Wells Fargo.
- If you apply for a private student loan directly thru Chase, you have to meet those requirements. But, if you file for financial aid (FAFSA) through the Federal government (www.fafsa.ed.gov), you will be approved for a loan by the government and then you have a choice to pick the private lender who will distribute the money. Check out the website for more information.
- You might try Sally Mae, too!
- It sounds like a not easy cracking nut,have a look here,you should find something useful for you.http://studentloan.online-helpers.info/america-bank-consolidate-loan-student.html
