Below, we have included a blog on common reasons for
student loan denial and how to handle them.
Not exact matches
Here's an updated look at the
student loan debt «bubble» that is growing in the U.S., and how it can turn a mortgage approval into a mortgage
denial.
While there are exceptions, most of the college sugar babies I have met are (a) fully aware of these salary realities, (b) in
denial of what it implies for their future lifestyle, and (c) are terrified of any math that involves their
student loans.
I know that I was in major
denial about my
student loan debt for a long time.
Unfortunately,
Student Marketmeasure's FOIA request for a data extract from the National
Student Loan Data System (NSLDS) was denied in the spring of 2007 for the first time in fifteen years and their appeal of the
denial was denied in January 2009.
For example, PLUS
loan denials increased by 50 % for parents of
students at historically black colleges and universities (HBCUs), costing the institutions about $ 50 million in enrollment revenue.
Of the 29,179 applicants for PLUS
loans to pay for attendance at private for - profit institutions whose applications were denied, our data show that there were 10,984 graduate and professional
students who received a
loan after the initial
denial of a PLUS
loan request using the extenuating circumstances process review or after obtaining an endorser who does not have an adverse credit history.
Once the lending company has given you the reason for the
denial, you can take that information with you while shopping around for a new lender that offers
student loan refinancing.
The
Student Loan Marketing Association (and, if the Association is privatized under section 440, any successor entity functioning as a secondary market for
loans under this part, including the Holding Company described in such section) shall not engage directly or indirectly in any pattern or practice that results in a
denial of a borrower's access to
loans under this part because of the borrower's race, sex, color, religion, national origin, age, disability status, income, attendance at a particular eligible institution, length of the borrower's educational program, or the borrower's academic year at an eligible institution.
A person who has defaulted
student loans on their credit report may be required to pay higher interest rates, deposits, and payments — or they could face
denial of services.
When applying for a
student loan deferral and while awaiting your approval /
denial, you must continue to make your regularly scheduled
loan payments