Your Questions About How To Get A School Loan Without Credit
Maria asks…
how can i get a bank loan for school without good credit or a co-signer?
I am wanting to attend a trade school to get certification but they do not offer any financial aid. I dont have good credit so I cant get a bank loan myself. Also i do not have anyone that can co-sign for me. I am trying to better my education so i can get a good paying job but i cant figure out a way to get my tuition paid. I am needing roughly $17,000 to pay tuition and exspenses. Is there any other type of loan i can get
Joe answers:
The best place is to go through your schools fin aid office. To apply start by filling out the fafsa application at http://fafsa.ed.gov
also there’s plenty of resources at http://www.computereweb.com/scholarship.php?id=hra0tt16koo9
Mark asks…
how can you get free cdl training without having credit or cash for a school loan?
most training places have you sign a loan and the company that hires you will pay the loan back. What can you do if you have no credit to get the loan in the first place? and no money to put down for tuition?
Joe answers:
If you have any mechanical skills you can try to get a job at a trucking company. And take it from there. Worked for me you just have to get the job and work towards it.
John asks…
How to take out a loan without credit?
I’m 20 years old & don’t have any credit cards, have almost no money in savings, & am not a student. I drive a motorcycle as a daily driver, but the one I have now isn’t reliable. It’s made me late for work three times since it got cold & has already cost me almost half its own worth in repairs, in only three months. I’ve decided to take the plunge & get a nicer bike. I have a good friend who wants to buy my bike, & I would need about $1500 on top of that to get a motorcycle reliable enough to be worth buying. Is there any way for me to do this? And do loans work the same way as credit cards, where you only have to pay interest if you’re late on a payment? I’m working just short of full time (35-39hrs/week) & make $8.50 an hour as a shift supervisor, but I’ve only been working here for three months & don’t have much steady work experience to help my case. On the other hand, I’m living at home for free (until I enroll in school next fall..I’m not a bum) & could easily pay off the loan in 6 months at the most. I would prefer to save up & pay off the bike outright with my own money, but the cold weather is what brings out the major flaws of my current vehicle & it would be spring at best before I could save up that much money. I know I need to talk with my bank or a credit union, but I’d like to get an idea of what to expect from people who aren’t just trying to make money off of me.
Joe answers:
You don’t have much job history but it might be enough to get a bank loan for the bike. The bank would use the title as collateral. Having a little bit of money in savings would ease the loan process even if it didn’t go toward the bike. Having no credit is better than having bad credit.
No a loan is not the same as a credit card. You will pay interest on the unpaid balance of your loan until it is paid off. If you get this loan you would be better not paying it off early but making all your payments on time over the life of the loan. This will help you to establish excellent credit for yourself. Good credit is important to have in today’s world.
This a little bit off-topic but might help someone. I have really bad credit – got in trouble with credit cards a few years ago. I recently had a jeweler approve store credit for me on a ring. I was surprised but decided to use it. The payments aren’t much and like I mentioned above it will give me a chance to rebuild my credit. I intend to make every payment on time! You don’t really realize how important good credit is until you’ve ruined it and need it. Protect your credit.
I hope you don’t mind but I did include a link below on an excellent book talking about loans.
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