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Old 12-15-2007, 11:26 AM #1
jerseyballer15
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Loans available to 18 year olds?

Well, come march 9th I will be turning 18 and moving out of my house. My parents and I do not get along, so I need to get out. They agreed to pay for my apartment until my senior year is done (march, april, may, june) Then I am going to be on my own for car insurance/room for summer. I will be getting into a house with people I work with in the summer, so that isn't a problem, but I am gonna need money so I can pay up front (about 2 grand) and then pay off over the summer. I make about 4.5k a summer.

so, my question is, what kind of loans are available for 18 year old? I won't need much, 3 thousand at the most.
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Old 12-15-2007, 11:41 AM #2
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Good luck getting screwed on interest as an 18 year old. Sure you can get a loan, can you get one without suprize butsekz rates? Doubtful. Why not just live in your parents house for a year and save your money. Im studying at a community college for 2 years then moving in to a dorm. I hate my household but i stopped being a whiny ***** and sucked up to free housing with water, heat, internet, TV. Again. Goodluck.
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Old 12-15-2007, 12:07 PM #3
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Originally Posted by orbitaldeath3 View Post
Good luck getting screwed on interest as an 18 year old. Sure you can get a loan, can you get one without suprize butsekz rates? Doubtful. Why not just live in your parents house for a year and save your money. Im studying at a community college for 2 years then moving in to a dorm. I hate my household but i stopped being a whiny ***** and sucked up to free housing with water, heat, internet, TV. Again. Goodluck.
cause I can't do that. I can't stand living here. I need to get out ASAP. My mom is bipolar and has extreme anxiety disorder, I just can't/don't want to deal with her anymore. I need an apartment for 4 months, then in the summer I have a house, and come fall I am going to college. I need loans because I can not work during the school year due to sports.
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Old 12-15-2007, 12:29 PM #4
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He is right, with no prior credit, you will get anal raped by interest rates. Maybe you should look around, do some talking with a few banks, see what your best choices are. They will go farther in to detail than majority of the members on this forum. I wish I could be more help but just make sure you read the fine print and know everything about what your signing your name on. I had a friend get screwed up the *** big time because he didn't read what he was signing.

I wish you the best of luck with your search
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Old 12-15-2007, 12:35 PM #5
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Originally Posted by jerseyballer15 View Post
cause I can't do that. I can't stand living here. I need to get out ASAP. My mom is bipolar and has extreme anxiety disorder, I just can't/don't want to deal with her anymore. I need an apartment for 4 months, then in the summer I have a house, and come fall I am going to college. I need loans because I can not work during the school year due to sports.
If u cant work during school then u are way too in over your head. You think someone wants to give you money if you have no income? Do you even know what your doing? Its not magic, its economics. Your parents put up with your bull**** for 17 years, im sure that you living there another 2 wont hurt them. I cant believe you expect NOT to work during the school ESPECIALLY if you have loans. Where do you live, in ****ing la-la land? Welcome to the real world kid, its about time you realized that lives easier in your parents house. Grow up.

EDIT- you live in jersey. Do do realize that this state has some of the highest property taxes in this ENTIRE COUNTRY. If you don't find a job, and expect to get a loan that WONT screw you in the ***, then your tripping on acid. If you want to be broke for the 4 years following college because you have to pay back your bank for the GIGANTIC amount you have accumulated over the years, then by all means, go ahead and screw yourself for the future. Have fun doing it too, im sure it'll be a blast.

Bottom line. Your ignorant as to how the after high school process works.


HOWEVER, on a nicer and more helpful side: Are your parents poor? You can sign up for financial aid if your parents don't make much money and it's money you dont have to pay back. But you cant live on financial aid, you cant LIVE on a loan either. JOB JOB JOB JOB JOB JOB JOB JOB JOB or bust.
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Old 12-15-2007, 01:51 PM #6
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dude,
if your going to college and dont have time to work. doesnt that mean you will barely be home anyways?
stay at home,
dont answer back to your parents.
go to school, go home eat do you homework. play sports.
you dont know what your getting yourself into.
save money, maybe when you want to move out. invest in a property. build some equity. find some roomates maybe you could be living for free.
find some money for a downpayment, even as low as 5-10K.

Be smart man.
at the age your at now is when you decide how your life turns out.
dont **** it up.
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Old 12-15-2007, 02:04 PM #7
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Quote:
Originally Posted by orbitaldeath3 View Post
If u cant work during school then u are way too in over your head. You think someone wants to give you money if you have no income? Do you even know what your doing? Its not magic, its economics. Your parents put up with your bull**** for 17 years, im sure that you living there another 2 wont hurt them. I cant believe you expect NOT to work during the school ESPECIALLY if you have loans. Where do you live, in ****ing la-la land? Welcome to the real world kid, its about time you realized that lives easier in your parents house. Grow up.

EDIT- you live in jersey. Do do realize that this state has some of the highest property taxes in this ENTIRE COUNTRY. If you don't find a job, and expect to get a loan that WONT screw you in the ***, then your tripping on acid. If you want to be broke for the 4 years following college because you have to pay back your bank for the GIGANTIC amount you have accumulated over the years, then by all means, go ahead and screw yourself for the future. Have fun doing it too, im sure it'll be a blast.

Bottom line. Your ignorant as to how the after high school process works.


HOWEVER, on a nicer and more helpful side: Are your parents poor? You can sign up for financial aid if your parents don't make much money and it's money you dont have to pay back. But you cant live on financial aid, you cant LIVE on a loan either. JOB JOB JOB JOB JOB JOB JOB JOB JOB or bust.
i'm not looking for money for college. College is taken care of. I don't need money to live off of. i need about 3000 dollars to pay for my housing for JUST THIS SPRING/SUMMER upfront, which I can easily pay back by the end of summer.
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Old 12-15-2007, 02:07 PM #8
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You THINK you can easily pay it back. Your about to turn 18, you have no credit, and no job, you will NOT easily pay it back. And college is taken car of, are your parents paying for your schooling? So you'll take their money but you wont deal with them for another 2 years or so? You think that they're annoying but your the bigger thorn in their side. So your moms bipolar, she has an ungrateful son. Thats worse. I wanted to move out for all 4 years of high school but last year i grew the **** up. Living on your own is NOT going to be easy especially if your someone who has to live off a loan instead of a job. Jesus Christ your not ready whatsoever. It doesn't matter if your going to do it, your going to crash and burn and come running back to your parents when you run out of money and trust me, YOU WILL RUN OUT OF MONEY.
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Old 12-15-2007, 03:21 PM #9
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Quote:
Originally Posted by orbitaldeath3 View Post
You THINK you can easily pay it back. Your about to turn 18, you have no credit, and no job, you will NOT easily pay it back. And college is taken car of, are your parents paying for your schooling? So you'll take their money but you wont deal with them for another 2 years or so? You think that they're annoying but your the bigger thorn in their side. So your moms bipolar, she has an ungrateful son. Thats worse. I wanted to move out for all 4 years of high school but last year i grew the **** up. Living on your own is NOT going to be easy especially if your someone who has to live off a loan instead of a job. Jesus Christ your not ready whatsoever. It doesn't matter if your going to do it, your going to crash and burn and come running back to your parents when you run out of money and trust me, YOU WILL RUN OUT OF MONEY.
He said he has a job over the summer which can completely cover his loan amount by the end of the summer.
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Old 12-15-2007, 03:31 PM #10
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Originally Posted by orbitaldeath3 View Post
You THINK you can easily pay it back. Your about to turn 18, you have no credit, and no job, you will NOT easily pay it back. And college is taken car of, are your parents paying for your schooling? So you'll take their money but you wont deal with them for another 2 years or so? You think that they're annoying but your the bigger thorn in their side. So your moms bipolar, she has an ungrateful son. Thats worse. I wanted to move out for all 4 years of high school but last year i grew the **** up. Living on your own is NOT going to be easy especially if your someone who has to live off a loan instead of a job. Jesus Christ your not ready whatsoever. It doesn't matter if your going to do it, your going to crash and burn and come running back to your parents when you run out of money and trust me, YOU WILL RUN OUT OF MONEY.
thanx, you have helped me a lot, well you would if i asked you to judge me or give me your opinion on my life. But, the question at hand is loans available to 18 year olds, and you have been completly useless in helping me with that, so i'd appreciate it if you'd shut the **** up. kthxbai.

Quote:
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He said he has a job over the summer which can completely cover his loan amount by the end of the summer.
thank you
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Old 12-15-2007, 03:34 PM #11
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Cause im trying to talk you out of a huge deal which your going to regret later on. Your question was answered in the beginning of the thread, BY ME, yes you can get a loan but its gunna screw you worse then Bubba in jail. You still got time to mull this all over, its a lot of **** to take in and you really gotta consider how much interest your jacking up. Its probably going to be compounded as much as the bank can possibly get from your pockets. And if you had a summer job which can cover the the loan amount, why would you need the loan in the first place.

and kthxbai? You are no way shape of form ready to live on your own if your still honestly typing kthxbai. My 12 year old sister stopped using kthxbai.
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Old 12-15-2007, 06:35 PM #12
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Old 12-15-2007, 08:29 PM #13
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Old 12-15-2007, 11:03 PM #14
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well i relate to this guy. my step mom has some thyroid problem, so 3-6 days per week she is constantly yelling/screaming/arguing, so the atmosphere isnt too homey.

so yeah, do what you have to do, just make sure it doesnt come back and bite you in the butt.
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Old 12-16-2007, 12:15 AM #15
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Eh, I'd live at home for 3 more months. If you honestly don't have time for a job during school, then you must not have much free time, so why does it matter if you live at home? School/Sports/Friends/Part time job and just sleep at home. Although Im kinda confused on your story. Your parents are paying your rent till June, but you need 2k up front to move in an apartment with friends from work? I'd just move in to an apartment close to where ever you are going to school, and you can probably find something without a down payment, or whatever that 2k is for.
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Old 12-16-2007, 01:35 PM #16
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Considering you are going to be an 18 year old with no credit, you need to have a job. They don't want to hear that you are going to have a job, they want to see that you have one and how much you bring home. You are going to be paying a ridiculously high interest rate even with a job.

If I were you, I'd stay a couple more months. Get a job and put all of it in the bank. Don't spend unnecessary money. In a little while you'll be able to get your own apartment and not be in debt over your head.
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Old 12-16-2007, 04:02 PM #17
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Be smart, live with your parents for a few more months and save every penny you can. You do not want to start your life off in debt at age 18.
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Old 12-22-2007, 03:17 PM #18
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Your best bet would be to get your parents to cosign or if you plan on going to college look at some student loans.
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Old 12-25-2007, 11:13 PM #19
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Ok easy thing i just recently got a load if you want a loan they want 2 years of STEADY income for a loan if you do not have that then sorry to say you are done.
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Old 12-26-2007, 01:43 PM #20
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I am a loan officer at a very large bank/finance company. I hate to say that you are probably screwed right now becasue the credit market sucks and becasue you do not have any credit. if you can get your parents to cosign for you you may have a chance but the rates will be very high. the Rate however is not that important becasue the amount financed is so low that it wont make much difference. I would sugest going to companies such as personal finance, citi financial, benficial, or american general. I do work for one of these companies but it is not important to me which one you go to becasue I live in a different state.
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