<p>I've heard that I will need a cosigner for any private loans. However, my parents have horrible, horrible, HORRIBLE credit. We are in the process of foreclosure and they are considering bankruptcy. They have been having garnishments to their accounts and have had to transfer everything to mine. While they may overcome foreclosure and bankruptcy the garnishments will be going on until the ten year limit is up, probably, so their credit will be bad for a very long time.</p>
<p>But the University of Oregon, even if I live with my parents, will cost around 13K a year. The problem is that they make 60K a year so I get no financial aid except stafford loans. I was told to forget going to school until I was 24, like my brother, but I wanted to get it out of my way so I could have a family before I am 30 and a good job. Even with work I'll probably come up short 3-4K each year. If I manage to work and get the money needed it may not be by the due date, so I would need a loan until then to cover expenses anyway. My parents can give me absolutely no money for my education. If I can't get a loan because I have no other living relatives to sign for me, what are my options in the loan department?</p>
<p>Your parents are under enough financial stress right now that it is not wise for them to borrow or give you money even if they could. You can borrow $5500 from the Staffords, $9000 if they are turned down by PLUS, which seems likely, given their predicament. That leaves about $4K that you need to earn which is very doable.</p>
<p>An articulation is not a guarantee (student must maintain grades, etc, but that would be the case if you went to U of Oregon). The CC will have a counselor to help you meet lower level course requirements (general education and major). I think tuition at most of these CCS are about 4 grand. You could minimize loans, and save earnings for final two years at U of O. I assume there is at least one you could live at home.</p>
<p>With all due respect to Captain, counting on earning 4G per year for a student may not be easy. Jobs can be tough to fine.</p>
<p>I agree. Very difficult. May need to double, triple, quadruple job and look for all kinds of opportunities. </p>
<p>The fact of the matter, is that the co signer does not have to be the parent. Any credit worthy adult can co sign for the students for private loans, or for the parents, for that matter for PLUS. If you can’t find one single credit worthy person who will trust you or your parents for that money, why the heck should someone who doesn’t know you take the chance?</p>