Hi all! My daughter is going to be attending college this fall and I am having a terrible time finding a loan for the unmet balance. With the bk only discharged a year and a half there any hope?? She has no credit established so she can't get a loan in her name and we have no one to cosign for her. The college had us apply for a PLUS loan, knowing that we'd be denied, so that our DD would get another $4000 in unsubsidized loans. I don't know where else to turn. The financial aid adviser has really been trying to come up with something for us but to no avail. We can't be the only ones to ever have be in this position. If any of you have any suggestions I would really appreciate it!!!!! TIA Chris
my son got an unsubsidized Stafford loan in his name with no credit. Have you tried getting it in her name?
She has a sub. and unsubsidized Stafford and a Perkins. After the scholarship and grant money came the Stafford and Perkins but we still need to come up with another $7300. Thanks! I do appreciate you taking the time to help!!
My mother couldn't afford to send me to a 4-year university so I had to settle for a junior college. Jr college is really not a bad alternative if your cash is low. I got a Pell grant for the 2 years that I attended. I was able to carry a good GPA and I got scholarships and other loans and I then went on to a 4-year college. I had a great experience at Jr college and I wish I could do it over!
She's not eligible for a Pell grant. The problem that we have is that the course of study she is taking is really only offered at private colleges. Oh, how I wish that a state school had what she wants, then I'd be pretty much be good to go. I also asked the school about Direct (Ford) loans and they don't participate. : ( She's now applied for a credit card so that she can establish some credit in her name and apply for her own loans next year. Thanks everyone!
From what I understand, your child can apply for student loans independently, but she would have had to declared independent on her taxes for the two previous years. You might want to consider that she will have more options for funding if you don't claim her on your taxes for at least two years in a row. In the meantime she could try work study, or find an employer that offers tuition reimbursement--that's how I got through! Good Luck.
Thanks! I'll have her look into work study. I did list that on her FAFSA, but the school didn't have anything for her at the time. Maybe soon they will as that will help. Chris
If you as the parent apply for a PLUS loan (parent loan) and are denied, the student can bring in a copy of the denial letter and the school will then be able to offer the requested amount to the student as an unsubsidized additional stafford.
Sallie Mae has sent a copy of our PLUS denial to the college. They are offering her another $4,000 in unsubsidized Stafford loans because of the denial. She is now at the maximum amount that she can receive under subsidized and unsubsidized Stafford loans. Unfortunately she still needs another loan to cover the difference. I've contacted the financial aid office about the work study program. They are looking into it and will call me back. Thank you all for taking the time to offer your suggestions. I do appreciate it very much!
When I was going to college, I worked a PT job at UPS. They paid $4000 a year towards tuition, books, etc and then also offered a loan program. I also had free medical, dental, and vision insurance. All this in addition to a weekly paycheck You can take out a loan, up to $2000 a year, that they will pay back over 4 years. You only make the interest payments on it. This is through a private lender so it is credit based- I had to get a cosigner for it. There are lots of different companies that offer tuition reimbursement for PT employees- maybe your daughter can find a similar program somewhere?
