Nether one of my parents are willing to cosign for my student loan. College has always been a dream of mine. I hope to pursue a career in the medical field, but need to go to college. I’ve worked way too hard in high school to not go to college. Nether one will cosign. And I don’t have any credit. Any advice? Thank you
Have you been here first, https://studentaid.ed.gov/sa/types/loans/subsidized-unsubsidized#how-much? No bank is going to give you a loan past those limits with no cosigner, no collateral, and no credit history. Unless you get significant financial aid, you may need to start at a community college.
You can get a $5500 Direct Loan in your name only IF you have submitted a FAFSA.
Is that all you need?
Are you headed to college this fall, or are you planning ahead (please please say the latter!)
If you are planning ahead, folks here can find a way to make the loan maximum (5500) plus some earnings cover your expense if you are flexible in your college choice and have good scores.
What’s your EFC? Can your parents pay anything? You’re the eldest of 9, right? Very few parents could afford to cosign college loans for 9 kids. They’re smart not to even consider it.
Your other threads indicate that your GPA is 2.9 and your SAT is a 1080, so I don’t think you’ll qualify for merit. If you’re low income, you may qualify for a Pell grant of up to ~$5k/year. You can borrow ~$5500/year if you fill out the FAFSA. If you work summers, you can probably raise ~$3k/year. That gives you a budget of ~$13k/year. It might pay for tuition if there’s a college within commuting distance of your home. Another option is to start at a community college and transfer to a 4-year school later. If you want to go to med school, try to get through undergrad with as little debt as possible.
You applied to Penn State and Ohio. Are you in state for either? Does your state offer grants to low income students? Where else did you apply?
Unfortunately not. You will need to search out a college that you can afford with any money they can help you with and your $5,500 federal loan. Most take a Community college route and work part time to raise money and save for the future four year college after transferring from community college. Hopefully you live within driving distance because living there will be too expensive.
This is assuming you do not have the stats to get a full ride scholarship.
There are options out there for you. Don’t despair.
Good luck.
The OP is a HS senior who has already applied to colleges.
Other threads indicate he has applied to Penn State and Ohio University.
Hoping he is instate for one of those schools.
I assume you are resident in Ohio? Is their a branch of OSU near you? You could pay tuition 2 years there commuting and transfer the last 2. Try BGSU, you might get some merit $ there.
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Nether one of my parents are willing to cosign for my student loan.
College has always been a dream of mine. I hope to pursue a career in the medical field, but need to go to college.
I’ve worked way too hard in high school to not go to college. Nether one will cosign. And I don’t have any credit. Any advice? Thank you
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Most parents will NOT cosign loans because THEY would be responsible for the loans since newish grads often CANNOT make the payments.
You can still go to college. You can start by commuting to a local CC or state college, whichever you can afford with summer earnings, part time work during college, and a $5500 student loan (which won’t require cosigner).
Did you apply to a local state school? Do you have a CC near you?
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Penn state main
My gpa and test scores aren’t very good, but they improved tremendously senior year. I also applied to the summer program, and I’m undecided. Penn state is my dream school.
Cumulative gpa- 2.9 (I’m a senior and right now I have a 3.8 gpa. So I’m doing better.)
Sat- 1080
I took 2 AP classes, and 7 honors classes
I was apart of the film club, I volunteer at my local church and hospital. I also help my mom take care of my 8 younger siblings after school everyday.
What are my chances? Thanks
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What is your home state???
Another issue is that you’re also applying to Ohio U. You’re OOS for at least one of these schools. It would be crazy to borrow to go OOS to one of these schools.
The summer start at Penn State costs another $8,000 or so for 6 credits and housing. Are you instate for PSU? You’d be better off starting at a branch campus and then trying to transfer after 2 years.
What colleges have you been admitted to ?
Please, for each, calculate
(tuition, fees, room, board) - (grants, scholarships ) =
For each and post results below.
What can your parents pay for you each year or each month?
How much do you have in personal savings ?
Do you currently work?
Do you live near a 4-year college?