I’m short on money for the rest of my tuition + my room and board. I may not be able to get a cosigner because my mom’s credit sucks. If I can’t get the loan, I won’t be able to attend, which would honestly crush my dreams. Any ideas?
Do you have any Direct Loans in your package? Those are the only ones you can get without a cosigner.
Ask your mom to try Direct PLUS loans. If she is denied, you may be able to borrow more Direct Unsub. Loans.
See https://studentaid.ed.gov/sa/types/loans/subsidized-unsubsidized#eligibility
How much is your shortfall?
Have you check with your dad?
Talk to your college’s financial aid office.
How much is your shortfall?
As noted, if your mom is denied a Plus Loan, YOU can take $4000 in additional Direct Loan money without a cosigner.
BUT it’s not hard to be approved for a PLUS. Honestly if the amount is more than a couple thousand dollars, you might need to rethink the affordability of this school.
Plus…it’s July. How did you think you were going to pay these bills when you choose to matriculate at this school?
Sounds like your shortfall is a LOT if the loan would need to cover remaining tuition PLUS room and board (and maybe books).
Sounds like you need at least an add’l $10k per year (on top of Direct Loans).
Frankly, this school was never affordable for you.
Why is this just coming up now? Haven’t you long known what you needed to pay? Haven’t you long known that your mom couldn’t (shouldn’t) borrow?
What loans are ALREADY in your FA pkg?
How much do you need to borrow additionally?
Yes, the $4000 would not help much to cover rest of tuition and room and board.
Better to be disappointed now and change plans and figure out other options, than to start at that school, take out a bunch of loans and then having to leave because you can’t keep paying the bill.
Then you will have loans due and no degree.
A bigger problem is if the student were to start at this school with some sort of naive hope that somehow the money will come, and then not only have to leave, but will owe the school money…which she can’t pay. And, with an unpaid balance at this school, she won’t be allowed to enroll elsewhere for cheaper.
It’s very unfortunate that this has gone on this long. I’m not sure why last spring it wasn’t realized that this school is unaffordable. Maybe the student had no idea that she couldn’t get those loans on her own.
Reading her other posts, it sounds like this is for some sort of art degree. If it is, then that’s another reason not to borrow much. But, either way, the debt would be too large no matter the degree.