College loans?!?

How will this current crisis affect college loans? Will it still be possible to get private loans from banks or am I out of luck in my first semester?

[edit on 29-9-2008 by goldbomb444]

Ah crap-- I hadn't even thought about that! None of my college loans are with the banks in the spotlight right now, but that could just be a matter of time.

College loans are pure evil. I think I will be paying on mine till I die.
I am hoping something will happen and I will be released from their stranglehold of perpetual doom..


GoldBomb...I think you will be ok. Call you student services at your college and ask.

Originally posted by fishneedh2o
College loans are pure evil. I think I will be paying on mine till I die.
I am hoping something will happen and I will be released from their stranglehold of perpetual doom..


GoldBomb...I think you will be ok. Call you student services at your college and ask.

I am talking about private loans, like from Chase.

reply to post by goldbomb444


Certain banks like Chase or Bank of America are still sunning solid. B of A didn't get into the sub-prime market and they actually scrutinized the people who were applying for loans.

If the faith in the financial system collapses however, I think there will be more important things to worry about than getting a loan for college.

Originally posted by wutone
reply to post by goldbomb444

 

...I think there will be more important things to worry about than getting a loan for college.

Wrong sir...college is my life right now. I don't make it through college, my future is shot.

reply to post by wutone


I wouldn't have too much confidence in B of A...this is only one of the links..:

Bank of America

reply to post by goldbomb444


I got through college and my future doesn't look any brighter because of it. The fact of the matter is, this is the worst time in American history to be in or graduate college. The job market is dying a slow death and we are all paying for it, and we will for a LONG time. Not only are our college loans going to kill us, but our stupidity in borrowing will send most of us to the poor house.

Those entry level positions you're going to be looking for? They don't exist anymore. You better be over 30 with several years experience if you want to be looked at.

Originally posted by SantaClaus
reply to post by goldbomb444

 

I got through college and my future doesn't look any brighter because of it.

Those entry level positions you're going to be looking for? They don't exist anymore. You better be over 30 with several years experience if you want to be looked at.

ha..me too Santa
& I am over 30 and that did not matter either (also a Veteran)


Watch out GoldBomb on what ever you do. The interest on student loans will eat you alive. Good Luck.

reply to post by wutone


No bank of america has a BUNCH of bad loans too! Saw something about it on CNN yesterday but I can not find it now! Bank of America is complete BS and have the worse customer service of ANY american bank by far! It is the only BANK I HOPE GOES DOWN!!! But check it out they have a ton too just not as much as many of them!

Sallie Mae cut some of thier loan programs last year because of bad financial decisions. I was attending ITT-Tech at the time to finish up my multimedia degree when it happened and my financing was shot since Sallie Mae were the only private lender the school used. Since I am supposed to be physically unable to work manual labor jobs anymore, I was really relying on finishing school so I could get what my doctor called a "spiffy job with a desk".

But I was not the only one effected since over half of the students utilized the same lending program that I did for thier private loans, and hardly anyone could get co-signers that had superb credit for backing, the school lost ALOT of thier students.

It would not suprise me that with the way everything is going right now that private student loans are going to be on hold for a while. But for those who have issues with getting loans and have to put school off for a few months, you might try to learn a trade in that time that didn't require a degree...even if it was something that was just a hobby, but could help out in survival situations, would be great because the way we are headed it seems like we are going to be back in the stone age