Community Conversation => Transgender talk => Topic started by: Robin. on November 22, 2009, 04:10:44 PM Return to Full Version
Title: Loans
Post by: Robin. on November 22, 2009, 04:10:44 PM
Post by: Robin. on November 22, 2009, 04:10:44 PM
Lets say i decided to get FFS and that cost me around $8,000 And i got a loan for that. And then later, perhaps before paying of that loan i got a 16k loan or there abouts for SRS. Including the cost of electrolysis and some laser treatment, and hormones, stuff like living expenses, would it be possible to afford everything on a Mcdonalds sallary? I'm working on my bachlors now and would like to get my masters someday but i just don't know that i'll be able to find a job here in Alabama that will pay much better than that...even with a bachlors, and especially not while i am transitioning...
Will i even be able to get a loan for that kind of stuff? i don't have any credit what so ever now, but i might could get my dad to cosign or something...
Will i even be able to get a loan for that kind of stuff? i don't have any credit what so ever now, but i might could get my dad to cosign or something...
Title: Re: Loans
Post by: Hannah on November 22, 2009, 04:28:11 PM
Post by: Hannah on November 22, 2009, 04:28:11 PM
An independent student in her junior year can qualify for almost 13k per year in student loans with no credit history. That's a nice supplement to your minimum wage job if you don't spend it on crap. I put my loans into CDs to keep them safe from crises, and sure enough I haven't starved. Just an idea.
Title: Re: Loans
Post by: Janet_Girl on November 22, 2009, 04:37:29 PM
Post by: Janet_Girl on November 22, 2009, 04:37:29 PM
There are companies that will grant loans for medical procedures. But in this economy they will want a great credit rating and a high paying job. But if Dad has both they just might grant one.
JMHO
Janet
JMHO
Janet
Title: Re: Loans
Post by: finewine on November 23, 2009, 04:14:26 AM
Post by: finewine on November 23, 2009, 04:14:26 AM
It doesn't really matter what you can borrow. It only matters what you can afford to repay.
Figure out what your monthly expenditure is - factor in a little slack as a safety net. Base your borrowing on your remaining disposible income. Unsecured loans carry a higher rate of interest than secured loans so getting your father to co-sign may help with that (as you're taking advantage of his credit rating).
If you try to borrow beyond your means, you'll end up having a loan that is probably more expensive than it needs to be in terms of interest and will certainly be a long term burden for you.
Either way, I urge you not to borrow more than you can afford to repay so plan and budget accordingly. Good luck!
Figure out what your monthly expenditure is - factor in a little slack as a safety net. Base your borrowing on your remaining disposible income. Unsecured loans carry a higher rate of interest than secured loans so getting your father to co-sign may help with that (as you're taking advantage of his credit rating).
If you try to borrow beyond your means, you'll end up having a loan that is probably more expensive than it needs to be in terms of interest and will certainly be a long term burden for you.
Either way, I urge you not to borrow more than you can afford to repay so plan and budget accordingly. Good luck!