Sentences with phrase «student loan applicants»
The federal government does not check histories of student loan applicants.
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Likewise, neither one has a set cap of how much in student loans an applicant can refinance.
According to our information, 39.37 percent of private student loan applicants applied for a loan with a cosigner.
First the good news: Bad credit isn't a death knell for student loan applicants, since most undergraduate loan money comes from the federal government and the feds don't use credit scores to approve applicants.
The outage of an important government tool could have serious consequences for current student loan borrowers around the country, not just student loan applicants working with the FAFSA.
The major problems are 1) people who are taking out these loans are often young (new laws that apply to credit card applications of people under 21 stipulate that they must prove the ability to pay off the balance, this does not hold for 18 - year - old student loan applicants) 2) these loans can not be discharged in bankruptcy 3) interest rates for student loans are now higher than rates for most mortgages.
The weighted average credit score of a Sallie Mae student loan applicant or co-signer is 746.
According to LendEDU's private student loan database, 94 percent of private student loan applicants chose a variable interest rate.
28.75 percent of private student loan applicants were approved when they had cosigners on their applications.
According to LendEDU, the average income of student loan applicant was $ 46,343.
Origination fees are often seen as a large burden to a student loan applicant.
Only a mere 4.90 percent of private student loan applicants were approved for a private student loan when they lacked cosigners.
In our report below, you will find original and exclusive data collected from 80,000 private student loan applicants that have gone through LendEDU since the start of 2016.
According to LendEDU's database, the average FICO credit score of a student loan applicant was 647.