Is a 690 credit score good enough to co-sign for private student loan?

Do not get a private student loan. They will charge you ridiculous interest and you will pay on it for so much longer than a federal student loan. Why dont you get a federal student loan? You going to one of those rip-off private colleges like ITT tech or University of Phoenix or something?

there is a credit crisis the US is going thru now and will be for quite some time to come. it used to be that a credit score of 720 was good credit but lately people with scores of 790 and 800 are even getting it hard to get the best rates. there are several sites that do peer to peer lending. one is prosper dot com. another is lendingclub dot com.

at prosper, you will open an account, ask for a loan and fill out a form stating what the loan is for. you will also write a paragraph of why your loan should get funded over someone elses with the same credit score and write in all your bills.... that sort a thing. next people that have accounts to lend money ( average joe blows AND investment groups)look thru the request for loan postings read the request and financial data potential borrowers filled out and they choose to fund your loan or not. there could be many many people that will have funded your loan in the end ( each person may agree to fund only small portions which add up to the total loan amount) OH! you also choose on you application the interest rate you are willing to pay and lenders bid on this too which potentially brings the rate down. you pay your monthly note to prosper dot com and they handle paying back each lender involved. check it out. Ive been thinking of becomeing a lender for some time now as an investment but havent done so so far.

they're using your credit to make the loan for somebody else. If all money are made on time, it ought to help your score. If the guy defaults, it hurts your score. maximum courses have a fashion for the co-signer to be dropped from the acct after 36/40 8 on-time money.

I searched all over the internet and came upon a bunch of scams. After all this helped for me= financial-care.info-

RE Is a 690 credit score good enough to co-sign for private student loan?

My credit score is 600 and we have been declined several places for private loans. My co-signer makes about 60,000 a year and I'm a student making about 26,000 annually. Anyone know of a lender or bank who is lenient on credit restrictions..Any help is appreciated. Thank you