Fed Financial
First Time Loan.. questions need answering!?
I'm currently a 19 yr-old college student and under some family circumstances, I need money fast! I'm thinking about taking a loan of about $5,000 ~ 10,000, but I have a few questions to ask before going into a bank/ lender. 1/ Can I pull out a loan as a "student loan" but use it for personal use instead of using for my tuitions? 2/ Does my credit score affect whether the lender wants to give me a loan or not? (because I have at least $2,000 in credit debt but I've made my payments on time and my accounts are in good standing.) 3/ Would having my mom co-sign help me get more money or less money? (my mom's in debt as well but her credit rating is not too bad as far as I know.) 4/ I heard Citibank gives out good loan in reasonable APR etc etc... has anyone tried WAMU's loan? 5/ If my situation does not qualified as a "student loan" then would it be considered as a "personal loan"? Is there any particular name for it? thanks!
Public Comments
- 1-NO, if you get a loan from them for school it will have to be for school. they won't give you the money they will contact you school and notify them. 2-YES, credit cards build up credit if your good about them your fine. It will depend on your credit within how much money they will give you. 3-YES, anytime you have a co-signer it helps, just so THEY now they will get there money back 4-NO, never tried them. AGAIN, it goes along with your credit, those people that said that may have very good credit. Don't go through the internet...SCAMS, you may want to consider going through your local bank 5-YES, personal loan is the correct definition Hope this helps. Good luck PLEASE PLEASE don't go through the internet, if it sounds too good to be true it usually is. I've got scammed over almost 500 dollars before. This is real money your talking about so go in person!!!!! Internet will feed you bull..people fraud people all the time over the internet.
