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Thread: Loan limit

  1. #1
    Beauxsxm is offline Junior Member 510 points
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    Loan limit

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    I called Sallie Mae yesterday to find out what was going on with my check. I was told that I had 'exceeded the aggregate limit' and would now require a cosigner. I asked if the loan I took out with a cosigner is second semester would be subtracted from the amout I had borrowed (this would have put me well under the limit and allowed me to get the loan by myself), they said that because I NEEDED a cosigner in second it will not be subtracted. I asked if there was any other loan option so that I didn't have to get a cosigner, 'NO'. I asked to speak to a manager. He came on and basically said the same thing. I explained that I had called in February to get pre-approval, and had called a couple of weeks ago to make sure there wasn't any more info or paperwork for me to send in. Neither time did anyone say that I needed a cosigner. I then proceeded to ask him if they were going to garnish my wages at McD's, since I wasn't going to finish med school. I finally found someone to cosign for my LAST loan!! So I'll at least get to finish (in Decmber).
    Just so you know, the aggregate limit for Sallie Maybe-maybe-not is $200,000 after that, you need a cosigner period. I'm going to call back today to ask them a few more questions (like who the great business genious is that came up with the idea of letting someone get 90% of the way throgh school and them yanking the rug out from under them, or how many of their loan payments they get from Whopper Floppers). So if you are nearing the limit, find a cosigner or find another lender.

    Beaux
    Stupidity is not a crime... you are free to go.
    Do I look like a @$#%&*#@ people person?
    What are you going to do... type me to death??
    Your mommy's calling.

  2. #2
    tRmedic21 is offline Elite Member 510 points
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    Oops....

    Beaux, you forgot to add an "All of the above" option to that poll....

    Actually, I think the answer for a doctor could be any one of those, depending on what stage of training/career he/she/it is in at the moment.
    bleh

  3. #3
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    levator is offline Elite Member 510 points
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    .....

    beau and *****: do you guys know of any other lender that does not have this ridiculous rule?
    AUC, Class of 2007
    Internal Medicine (PGY-2)Hidden Content


  4. #4
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    options is offline Senior Member 510 points
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    nellie mae

    I called Nellie Mae and the MD-Excell loan has an aggregate limit of 220k. I verified this for our school exactly. That will get you a little bit farther anyways.
    Director of Anatomy --
    Skipper's Medical Univeristy of the Dutch West Indies--SMU-DWI

  5. #5
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    Skydiver is offline Member 510 points
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    Key has a 375K max
    I am Superman
    __________
    *Skydivers don't knock at Death's door. We ring the bell and run away.

    *100% pure adrenaline ... other guys snort for it, jab a vein for it, all you gotta do is jump
    Hidden Content => Hidden Content =>Hidden Content

  6. #6
    mdjd is offline Member 510 points
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    Key Bank is not an option at AUC.

  7. #7
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    ChanceCount is offline Senior Member 510 points
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    I think Health Express is 300k.

  8. #8
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    microphage is offline Useless Member 512 points
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    this thread is almost a year old.. back when I just left the island... ahh the memories.
    Finally beat Super Mario Bros within 7 mins.

  9. #9
    julestx is offline Moderator
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    yup, 'memories!'

    Yeah - Beaux graduated Dec 17th, and has the ECFMG cert in hand - good feeling! (Minus the debt feeling...thats no good)
    Moderator - Spouses and Partners

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