Sallie Mae

[Privateer]

Just thougth I'd through in my experience. I received 50K from Sallie Mae with one cosigner for a career loan, then just received 30K from Sallie Mae on a student loan to finish up. So who knows?

[goromadgo]

Wow you should write Halmark cards, very well thought and said. For me this has been a long three year war that I am about to win. With my CFII on the horizon I will have won. Sure I lost battles with funding, I gave up a seven year career as a cop, moved from Martha's Vineyard to Sarasota, Florida. But as HG03 so eloquently stated taking a step back, reconfigure and so on, that is so true. In my opinion, nothing worth a darn in life is or should be easy. In retrospect I too agree that the academia was not the hard part it was all the other stuff. I remember this one quote

 

"You gain strength, courage and confidence by every experience in which you really stop to look fear in the face. You are able to say to yourself, 'I have lived through this horror. I can take the next thing that comes along.' You must do the thing you think you cannot do."

Eleanor Roosevelt

 

P.s. I only need 10,999,990 more soda cans to buy a new R44

 

You should go into business with my Old Man! He drinks Diet Pepsi like it is going out of style! Sucks going on road trips with him because we stop at every other gas station to get a refill on his 44 ouncer and to empty his tank. I have no idea how he made it through his X-C phase without landing at all those gas stations on the way!!

 

And yes HG03 is very insightful and knowledgeable on many things!

[Frictions On]

Alright, I am writing this post in hopes that SOME ONE out there will reply and tell me that they have squeezed ANY money out the old hag in the wake of the SSH mess? I have been hearing a lot of noise about Sallie Mae not financing Helicopter training anymore, and I am just trying to find out if anyone knows ANY news on the subject, or if there is anyone out there that HAS received financing from Sallie Mae in the last 3 months??????? I would LOVE to hear about it! I know Sallie Mae is getting their butts kicked right now, http://www.reuters.com/article/businessNew...361975120080123

but I have not seen anything saying that they will NOT finance Helicopter training.... I know a LOT of guys (and gals) that have been turned down by Sallie Mae recently. I have already squeezed every last cent that I could out of SM, but that was a year ago and that is not the reason I am asking. The reason I am inquiring about this? What happens if there is NO way for students to get financing? Is there any other way to get financing to get through training besides signing up with Uncle Sam? If there is a financial institution out there that does besides Sallie Mae then I sure don't know about it! I am sure everyone can figure out what will happen if Sallie Mae says NO WAY to wanna be pilots. So if anyone reading this can answer the questions below or just tell me you know some one that did, I would sure appreciate it.

 

So, is there anyone out there that has received any financing from Sallie Mae since this SSH BS hit the fan?

If so, how much? Co-Signers? Where and what school? How many Co-signers?

 

Sallie Mae is, indeed, offering private finance loans to students who meet certain credit criteria; but there are new factors involved beyond just SSH ... the real estate and mortgage crisis - the fact so many financial institutions are on the credit brink themselves - makes for a skeptical lender, or any agency that guarantees loans. The lending criteria for Sallie Mae can be stringent, but as long as your credit is good, or you have a co-signer with good credit - and provided you are going to attend a helicopter school that Sallie Mae likes, you can get money. Search for a quality school that is approved by Sallie Mae - do a Google like this: "Sallie Mae"+"Helicopter School", and you'll probably have a slew of results. Good luck!

[NorCalHeliKid]

Credit card debt is evil. Have you looked at the interest rate? If you make the minimum payment each month, you will never pay it off. Do anything possible to avoid credit card debt, and I do mean anything.

 

As for Ramen noodles, there are better alternatives. Beans and rice are cheaper, and far more nutritious. Lentils are the best type of beans, IMO, because they cook much quicker and actually have more nutrition. Modified food starch and salt aren't that good for you.

 

Thanks Gomer, and I agree with you 110% (and thats not even possible b/c per cent means out of 100) Credit card debt IS EVIL, unless its not your credit card and your sugar momma is picking up the bill. As for your beans & rice idea, I am alive here today because of them and I also will defend them both to the death, smelly cross country flights or not. Thanks for the advice, bean burritos at my house for dinner.

[goromadgo]

Thanks Gomer, and I agree with you 110% (and thats not even possible b/c per cent means out of 100) Credit card debt IS EVIL, unless its not your credit card and your sugar momma is picking up the bill. As for your beans & rice idea, I am alive here today because of them and I also will defend them both to the death, smelly cross country flights or not. Thanks for the advice, bean burritos at my house for dinner.

 

Just keep a steady supply of bean-o! Is that stuff even around anymore? On the bright side won't that a little bit of extra thrust?

Edited February 29, 2008 by goromadgo

[LFGuard10]

Just keep a steady supply of bean-o! Is that stuff even around anymore? On the bright side won't that a little bit of extra thrust?

 

 

Take Bean-O before, and there will Bean-0 gas Not sure if it's still out or not. I remember those commercials though HA HA HA.

 

 

Anyway, if anyone seen my earlier post in this same thread, I decided to take that $12,000 and get started on my flight training. I've got the best opportunity right now than I'll ever have. It's really one of those now or never things. I just hope 'ole Sallie will help me out again when I hold out my hand.

[UCT2]

This is a copy of a post to a similar thread. Will I get my hand slapped for "double posting"? Thank you sir may I have another.

 

I'll chime in on my recent experience with SLM Financial if others do as well we may see trends besides the obvious, that can help others. I faxed in my application one week ago on a friday night. I called 3 days later on Monday to confirm that they received everything I sent. They had it all. Along with my app I also sent a letter to the application department clearly asking for an approval on the full requested amount of $53,000 and why I thought I should get it. I'm not sure what if any effect the letter had but 4 days later on Thursday I called back ( as instructed by the loan assistant). I found out I was "eligible" for the full amount but I would have to have a co-signer. So now i'm kicking around ideas of who I can ask to co-sign. My parents have passed away, they would have been my first choice. I only have secondary choices. I'm also looking at business opportunities that might help bring in extra money so I could just pay as I go or pay off a couple debts and improve my DTI; I'll post again as things progress.

 

If anyone one else is dealing with SallieMae or other finance companies let us know how its going/ how it went, lessons learned etc...

 

 

 

Terry

 

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Whether you think you can or think you can't, you're right.