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A good friend of mine has no debt, but no credit. She lives at home with her parents and younger sister. Her parents declared bankruptcy 7 years ago, but re-affirmed their mortgage. They did a cash out refi 2 years ago. In short, they are not an option for co-signing or helping her financially.
My friend has a recreational diving certificate but wants to be a divemaster as a profession. She has been accepted to a program in Florida, but between the tuition and living expenses for the 6 month course she needs $32,000.
She has no credit, good or bad. She just got her first credit card a couple months ago to try to establish credit. She paid for her car in cash in 2004. She has no savings. So what options does she have for a loan? Traditional student loan lenders wont lend to her because the program is not administered through a degree granting institution. It grants a certification - I would presume the same as a realtor, plumber, carpenter, etc.
My friend has a recreational diving certificate but wants to be a divemaster as a profession. She has been accepted to a program in Florida, but between the tuition and living expenses for the 6 month course she needs $32,000.
She has no credit, good or bad. She just got her first credit card a couple months ago to try to establish credit. She paid for her car in cash in 2004. She has no savings. So what options does she have for a loan? Traditional student loan lenders wont lend to her because the program is not administered through a degree granting institution. It grants a certification - I would presume the same as a realtor, plumber, carpenter, etc.