Getting a loan from Sallie Mae Good or Bad?

Will This Increase My Chances of Being Approved? Sallie Mae?

• Hey guys! I will likely need to get an additional student loan for the upcoming summer and fall semesters. I have literally no credit, and there is absolutely nobody I can ask who can cosign a loan for me (and when I say nobody, I mean nobody. This is not an option.) I am going to be working full time this summer, and I will even be applying for a store manager position that I've heard I have a good chance at getting. No matter what, even if I have to work multiple jobs, I will be working at least full time, as well as taking 9 online credit hours this summer. If I apply for the Interest Repayment Option of Sallie Mae, will that increase my chances of being approved (because I will have enough money over the course of the summer to pay interest, but I will not have the money at the beginning of the summer to pay for my tuition, which is why I need a loan). By the way, I am 20 years old and I am in my second year of college. Thank you! :)

• Answer:

  without a cosigner you will NOT be approved for a private student loan (I'm assuming this is what you are calling a Sallie Mae Loan). It doesn't matter what option you choose regarding interest repayment options. they check your cosigners credit first... and when you don't have a cosigner, you are automatically denied. LOL Sounds like you need to work full time during the summer and save your money so you have some!