I’m new to this group and I must say, all of the discussions have been very helpful with making my decision to try and go the route of ATP.
I’m looking for any advice on how to get financing with poor credit. I understand the need of a cosigner, however I am still having issues. I have gone through both Sallie Mae and Wells Fargo and both have been an instant decline which makes sense if it’s based solely off my credit, however my mother is an 800 and makes very good money with a low debt to income ratio so we have been confused. So I call both, and each say that they take an average of both credit scores, along with telling me that it really only is beneficial if the applicant is on the edge of being approved or denied to have a cosigner. I’m confused what the point of having a strong co is even if this is how they are processing it?
To sum it up, my question to the group would be if anyone has run into this issue and overcome it, or if they have any advice for a lender that is a “Parent only” program? I spoke directly with the finance department of ATP and they said I can absolutely find outside financing options but I’m struggling with actually achieving that.
Also, if I go through another lender, will this change the tuition reimbursement in any way?