Getting into business school without money

I'll start by saying I work in commercial credit granting and collections, so while I know my stuff with commercial credit not everything always transfers to consumer credit applications. Also I know that credit practices vary depending country and I'm coming from a North American background (ie I don't have any experience with Prodigy Finance)

Generally I would say that bankruptcy can be a huge obstacle to getting loan approval, especially if it is less than a year old. That being said it isn't impossible. Have you looked in to scholarships or bursaries that may be available so you have some capital for tuition? From the sounds of the response you got to your financing the risk factors of your application put the amount you are looking to borrow outside of the acceptable limits for that size of a loan. I would suggest getting in touch with the organization you applied with and find out what they could approve you for or if there is any additional collateral you could supply that would allow for the full funding.

Otherwise I would suggest looking at any monetary awards you might be able to qualify for, if there are any government loans available as usually they will have different risk tolerances than private sector lenders. Also look at other lenders in the private sector, different companies will have different risk tolerances. Come with a business case to show a tangible ROI that may sway things in your favour.

Alternatively try family. I would recommend if you go that route make sure you put down the terms of the loan in writing so there is no disagreement or misunderstanding down the road.

Good luck!

I can tell you that when I was accepted to Johnson at Cornell University back in 2011, I was ecstatic, but when I got the call in..... maybe May/June, that I could not attend because of some historical financial things, I was devastated unless I could figure those things out. I had already made all of the deposits and things but my loans didn't go through. No one really knows this story, but I was DUMBFOUNDED. Here I had done everything in my power to get into school - and it was NOT an easy road, and now I'm stuck here not being able to attend because of some legacy undergrad loans. I can't remember exactly what the thing was about. Needless to say, I once that was all sorted out I did not have to pay anything out of pocket once I attended school and loans went through. Of course I had to live sparingly, but I had a little bit of savings from my job - and by a little bit I mean - a couple thousand (no more than $4,000) to start school. But the loans that I took out pretty much covered everything. If you really have questions, you should 100% feel free to contact the financial aid office of a select schools to see what options are or if there are other students who have encountered similar situations.