Hello, I am going into my last semester at my university and am unfortunately short about 2,000. This is not a large amount but I still don’t have that money. My parents are denied for the federal PLUS loan and I have already taken the most of federal loans that I can for this year. My parents went through bankruptcy a few years back so their credit sucks they cant take out any thing. I need to get a small loan to cover the amount but my credit history is not quite two years long but my score is really good and high. Unfortunately, I got denied for a Discover student loan because I could not get a qualified co-signer. With sallie may giving out so many loans, what are the odds I get approved with out a cosigner with a score north of 700 but not more than two years of history. I just don’t want to apply and take a hard credit inquiry hit if I wont get it.
Once your parents were denied for Plus, you should be able to borrow a few thousand more. Did that already happen?
Can you ask to be put on a payment plan, can you get a job?
Do you have good grades and did you ask your department if there are any scholarships you might qualify for?
Tell your financial aid office. You can get 4 or 5 k more if your parents are denied, basically you can now borrow at the independent student rate.
This is what the OP wrote. He or she has already taken the most federal loans for this year.
To the OP…I guess what folks want to know for sure…did you already take the extra $4000 in Direct Loans for,the year that you are permitted to take when your parents are denied a PLUS?
Do you have a job?
Have you spoken with your financial aid office about the shortfall you have? They may be able to point you to other resources to help you with the balance. It is very, very likely you would not get approved by Sallie Mae without a co-signer.