Last year I was awarded with student loans for law school, but two months ago I went over my credit limit (once) on one credit card, and then I went over my credit limit (once) on my other credit card. I cleared this up immediately, but it’s still on my credit report. Could this get me turned down for student loans (both governement and private)? If so, is there anything I can do about this, other than get a co-signer?
04 Jul 09 12:06 am
My first year of law school I was eligible for private law loans at a pretty good interest rate. The next year I was turned down, and the only bad thing on my credit report was that I was over 30 days late on my Kohl’s charge once!! I could have gotten a cosigner, but decided instead to make due with federal loans. If that’s not an option for you, try to find a cosigner. You might actually get a better interest rate if you can get a cosigner with really good credit.
Oh, by the following year, I was eligible for law loans again, but that old Kohl’s thing is still on my credit report. I think what made the difference was that between those two years I had paid off a bunch of my other credit cards.
04 Jul 09 3:55 am
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