My FICO TU Score is 789. Will I get a private student loan? Which loan companies pull TU?

Deal Score0

789 is a great score, of course.
But lenders consider other factors.
I have no co-signer.
In my 30s.
Income/yr 40K.
At the same job over 2 years.
Same address for 2 years.
No negs – collections, etc.
But not much credit history established.
A Discover Card w/ no lates and a $ 6500 credit limit, btw 1996-2001. But I never used it. High Balance: 0.
And a new BOA credit card w/ no lates and a $ 500 credit limit, just opened in 4/08.
That’s it. No other credit cards, no auto loans, no home mortgages, no school loans.
So, how do you think I’ll fare going for private student loans?
As someone with good credit or not enough established?

And which lenders pull which scores for private student loans? TU is my best. I heard Chase pulls TU for most people.

Thanks.

P.S. No comments on the evils of private student loans. I know to max out other sources first – federal, scholarships, grants – and I plan on working part-time, and full-time summer, for extra cash flow.

P.S.S. No spammers!

1 Comment
  1. Reply
    kultkonn98
    May 16, 2011 at 5:22 am

    Well let’s have a look:
    Like you said 789 is EXCELLENT (gosh I wish mine was that high but i’m only 21 and people keep checking it so it keeps dropping). Depending on your financial need (which you may or may not have) you might qualify for a stafford subsidized loan, those aren’t based on credit. the unsubsidized loan isn’t either, you just have to pay the interest while you’re in school. Then there’s the Perkins Loan, which is another subsidized loan. As for private lenders, you’re right, but not too much. Yes lenders want to know about other factors, but that score is going to hold a lot more sway than the no cosigner. most people in their 30s aren’t asked for cosigners. Your address is stable, and I’m not sure how long you’ve worked where you work, but that plays a part too. So I wouldn’t worry too much about it, I think you’ll be just fine. As for the evil of private loans, if you research them right and pay on time, they’re not so evil.

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