Hey there, hoping someone can help me out with a question about credit rating. I have a really bad credit rating in the states (lets just say i partied too much) but i am working on impriving that. but its still going to be crap for the next …
Hey there,
hoping someone can help me out with a question about credit rating. I have a really bad credit rating in the states (lets just say i partied too much) but i am working on impriving that. but its still going to be crap for the next 5 years atleast. I have a co-signer in the states who has really good credit rating. will my credit rating affect my chances of getting a loan or will my co-signer;s credit rating see me through in getting a loan?
any input will be appreciated
thanks
IMO, if you are a US citizen/resident your credit rating should also play a role in the loan approval decision. You could talk to the loan approving bank directly and hopefully they would overlook a few things considering your co-signor is ready to guarantee a bigger portion of the loan. For a B-school which is ready to guarantee your loan you shouldn't have any problems however for other schools you might get the loan with slightly higher interest rate.