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Loans for college that is non accredited?

Started 1300120130.6 in Viewpoints | Last reply 1300129338.897 by chrystaltree
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Hi

My son is in college right now. He is wanting to take a year to attend a Bible college that is non accredited. I searched online last night and could not find much info. I know that traditional student loans are not available for that.

I looked at our Credit Union for personal loans, but the money has to start being paid back right away. Is there such a thing as deferred personal loans?

If anyone has any info, I would really appreciate it. Thanks

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lulu21300120417.621652 PostsRegistered 8/1/2007

Why doesn't he attend an accredited one?

Very few places would offer deferred personal loans without a lot of strings or interest attached.

ChoosandMa­nolos1300122133.195013 PostsRegistered 7/2/2006

Only Federal Stafford and Perkins loans are deferred, and they won't pay for non-accredited course work.

Private loans, through a bank, Sallie-Mae or a credit union will have a pay-back starting right away, same for parent loans through the Federal programs.

I agree with the other poster, why go to an non accredited school, when religious studies classes can be taken at pretty much every accredited college/university, including state schools, private secular and religious colleges/universities.

Anniecamp1300122191.943801 PostsRegistered 10/6/2004

Not really. If a student doesn't qualify for loans, or only partial loans, parents have to take out a loan, often through connections made via the school, and start paying it right away.

Hildegarde­ Withers1300122385.6823448 PostsRegistered 7/3/2008

What field is your son getting into?


j marie13001226522945 PostsRegistered 9/9/2007

You should look into this very carefully. There are usually valid reasons why colleges are not accredited. What, exactly, would he get there that he couldn't get at an accredited institution?

BaileyandB­ella1300123067.9875678 PostsRegistered 2/6/2010

This isn't a typical "college"...it's more of a retreat/missionary type thing. It's a year long program with a very small group. He is wanting to do this for his own personal reasons.

His major is music.

Thanks for the info...

ChoosandMa­nolos1300127260.7175013 PostsRegistered 7/2/2006

He likely will only be able to get a personal loan, I can't see any financial institution giving an education loan for missionary work. Personal loan will carry higher interest as well.

chrystaltr­ee1300129098.2613068 PostsRegistered 5/10/2010

Why would anyone waste money on a non accredited college of any kind? I'm sure they have accredited bible colleges.

chrystaltr­ee1300129338.89713068 PostsRegistered 5/10/2010
On 3/14/2011 BaileyandBella said:

This isn't a typical "college"...it's more of a retreat/missionary type thing. It's a year long program with a very small group. He is wanting to do this for his own personal reasons.

His major is music.

Thanks for the info...

Oh, so it's not a college at all. It's not even a school. No brainer. It won't quality for any type of educational loan, you would have to take out a personal. It sounds like the money would be better spent on some type of therapy for the young man because it's insane to borrow money that you do not have on a "program" like that. If you or he had the cash, it would be fine, a matter of personal choice. But, to borrow and pay interest on something like that is not logical at all.

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