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Home >> Lending
Getting 100k Loan with 40k Collateral
I have been admitted to an out-of-country medical school. The total amount of tuition and fees for the program in its entirety is $100,000. Of course, I have less than favorable credit, but I have managed to raise about $40,000. I was wondering, if there is some way I could get a loan from a bank for the full amount ($100,000) using the $40,000 as collateral for the loan, or possibly using the $40,000 to pay the loan down until I am finished with school, making the remainder of the payments as I obtain residency.
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 You should seek out student loan financing. As a generic request for a $60,000 unsecured loan, to be out of the country, and with bad credit, an alternative funding source is needed.
Published on BankingQuestions.com 2/19/09
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