TaIk2Kevin Posted January 10, 2006 Report Share Posted January 10, 2006 Does anybody Know the loan Limits for Sallie Mae? I have about 8K Saved up to Start flight School. If I Figure about 65K total for 0-CFII. With Excellent Credit and a Cosigner Will Sallie Mae loan me the difference $57,000? I dont think it will take more than 65K but I want to be conservative so that I dont have to stop in the middle. Quote Link to comment Share on other sites More sharing options...
warpig Posted January 10, 2006 Report Share Posted January 10, 2006 from what sallie mae told me, they WILL NOT loan more than 30 k at a time for a cosigner regardless of credit. i had to have my parents split it, 30 and 30. they said nothing agaisnt the credit but it is just thier procedure. sallie mae has its issues with people not having their heads on straight and you have to constantly call them to make sure they are doing their job to process your info, but aside from that i had no issues with getting money from them. Quote Link to comment Share on other sites More sharing options...
klas Posted January 10, 2006 Report Share Posted January 10, 2006 They may not give more than $30k at one time, but will if in increments. I have over $30k taken over time. with no cosigner. I am sure you might be able to do the same. Quote Link to comment Share on other sites More sharing options...
TaIk2Kevin Posted January 10, 2006 Author Report Share Posted January 10, 2006 Thx for all the Replies, The part about 30K now and 30K later is what someone else told me also. I was just worried that I would get the first 30K and then be possibly denied at the second 30K. I think I will be fine then. Quote Link to comment Share on other sites More sharing options...
AdamSTL Posted January 11, 2006 Report Share Posted January 11, 2006 Also Look into Nelie-mae. They seem to focus on Training loans more. I'm credit approved for $45K right now. For what it's worth I was told that Salie-Mae does not consider the loan amount in their decsion. When I was denied $50K I was told that the amount was not a factor and had the loan been for $5000, I still would not have gotten it. Quote Link to comment Share on other sites More sharing options...
Burb84 Posted January 11, 2006 Report Share Posted January 11, 2006 Does anyone know how early I can apply for Fin. Aid for flight training? I'm not planning on going anywhere until next year, but if I don't get Fin. Aid then I'm going to have to try to figure something else out. I was wondering if I was able to apply now to make sure I'm approved, and then go to school in at least a year. Thanks so much! Quote Link to comment Share on other sites More sharing options...
DeanAPII Posted March 28, 2007 Report Share Posted March 28, 2007 30k doestn make sence, they where said to me they had no limit, so i applied for 70000, and they said i would just need a cosigner, most banks only offerd 30k, thats why i tried with that one. dunno Quote Link to comment Share on other sites More sharing options...
DebosDave Posted March 28, 2007 Report Share Posted March 28, 2007 They will approve a loan for any amount, but they will only release the funds in increments, at least that has been my experience. I was approved for $50,000, but they dispersed it in 4 installments. Dave Quote Link to comment Share on other sites More sharing options...
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