<p>I don't qualify for a lot of financial aid due to my mothers income (she is divorced from my father). With that being said, I have to look into loans to pay for my 40k+ a year tuition. The thing is, my mom does not have the best of credit and I have literally no one to cosign for me on a loan. I am attempting to build up my credit to become eligible for a private loan myself (i.e. credit cards, my cell phone bill, memberships). In one year from now I will need a loan, is it possible say, Discover would give me a loan? I have a credit card through Discover and have been making payments on time and keep up on everything. </p>
<p>Check out your state school or other colleges that are more affordable. 40k+/year loans to attend school is an unwise choice but you can check out federal loans.</p>
<p>You will NOT be allowed to borrow more than $5,500 for your 1st year of college. You need to find more affordable options or get merit awards. As was said, your state Us and CCs tend to be the most affordable options. If your mom has a significant income, how much can and will she contribute to your college education, each year for 4 years?</p>
<p>Starting at CC and then transferring to a U, while commuting from home can be an affordable way to get a college degree.</p>
<p>You are lucky. You are saved from yourself. You won’t be able to make foolish choice to take out that unreasonable level of debt. You have dodged a bullet. Now find an affordable school that you can go to using your Federal Direct Loans, whatever parental help you can get and your summer earnings.</p>
<p>Another parent here saying you just can’t afford this school. I know it is hard, but you can’t.</p>
<p>First, as others have noted, it would be virtually impossible for you to borrow that much without an established work history and an ability to begin making payments immediately from your earnings. (You would not be able to postpone repayment until you graduate.)</p>
<p>The other thing you need to think about is that college takes four years, and even if someone you know were able to qualify to cosign for you for Year #1, that does not guarantee they’d be able to qualify again in Years #2, 3, and 4. Chances are, if they have an unreliable credit history, that they would not be able to qualify in subsequent years. Then you’d be stuck with a HUGE debt . . . and no college degree, and no way to pay it off.</p>
<p>Look at the thread for [Automatic</a> Full Tuition/Full Ride scholarships](<a href=“Automatic Full Tuition / Full Ride Scholarships - #300 by BobWallace - Financial Aid and Scholarships - College Confidential Forums”>Automatic Full Tuition / Full Ride Scholarships - #300 by BobWallace - Financial Aid and Scholarships - College Confidential Forums). There are ways to earn a college degree through good grades and strong SAT/ACT scores, and that’s what you should focus on. Good luck!</p>
<p>It’s not enough to build a good credit history with your modest earnings. You don’t have the income to support qualifying for those loans …and thank goodness! That is tooooooooooo much debt. </p>
<p>You are talking about borrowing $160k…omg! You shouldn’t even be borrowing half that much. The most you should borrow TOTAL is about $30k.</p>
<p>What is your career goal? What will you likely be earning upon graduation. Even those with good “credit histories” can end up with credit issues when they borrow WAY TOO much…because their incomes won’t be enough for the payments.</p>
<p>What are your stats and major?</p>
<p>What state are you in?</p>
<p>We can help you find affordable schools</p>
<p>Edited to add (you’re already in college)</p>
<p><<<
I was taking 15 units at a community college in California. I withdrew from a class because I knew I would fail and I rather would have the W. But now I think my financial aid was taken. I haven’t talked to my school about it yet because when I call I’m put on hold for a very long time so I’d rather go in person. Now it says I owe a balance of $1,300 which I cannot pay and my parents are telling me they won’t pay for it. Is there any way I can get this all fixed and get my financial aid for the classes I’m enrolled in since I’m still a full time student? If not, can I switch to another cc and take classes there next semester? will I be able to get financial aid there? and do my transcripts get released as soon as I pay? I plan to pay the money back as soon as I can.
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<p>Since you’re already at a CC, then your options may be more limited if your family can’t/won’t help you pay for college.</p>
<p>What is your EFC?</p>
<p>What state are you in?</p>
<p>What state univs can you commute to?</p>
<p>What is your major/career goal?</p>
<p>What is your GPA?</p>
<p>Unless you cleared up your account at the CC, you could have issues enrolling at another school. You may have to lie about having gone there (grounds for all kinds of disciplinary action including expulsion and loss of any credits or degrees at a school), you certainly won’t get any credits from the older school, and if you got any financial aid at the first school, you are likely to be flagged at any other school. So you have some unfinished business you need to resolve.</p>
<p>My suggestion is for you to take a deep breath, find a job to start paying off what you owe at your previous college and think about successfully taking a part time course or too, before embarking on another full load of classes. Most people going to college do it that way, a bit at a time, pay as they go, and working as they do so. </p>
<p>Do NOT borrow $40,000 a year for tuition for college DO NOT. To get that kind of loan, you would need to have significant collateral of your own, and a job that would guarantee the bank that you could pay it back. You won’t have either as a full time student.</p>
<p>In addition, you have an unpaid account balance you need to reconcile FIRST. </p>
<p>Going to a college where YOU need to take $40,000 in loans per year is NOT the way to solve your college problems. </p>
<p>@Mom2CK, from the post you quoted: “I was taking 15 units at a community college in California”. </p>
<p>OP, There is no earthly reason to pay for a private school in CA. The system is built to allow students to graduate from a CCC and them move to a CSU or UC. Get your balance cleared up at the CCC and finish there before you do something rash.</p>
<p>I never owed money from my CC after all, It was a mistake with the financial aid office. I am a freshman at a community college in California and I plan to transfer to a private university half-way through my sophomore year. I have been applying for scholarships, I have filled out my FASFA, and I am well aware that federal loans would not pay even half of my tuition. In the end, I would owe around 120,000. I plan to pursue medicine. Discover private loans state that they will pay 100% of attendance. If it is impossible for me to acquire a loan for that much, why do they offer that? I do not feel that they would deny private school students, and if they did, they should state that it is for public universities only.</p>
<p>I have a 3.5 GPA. Oh and my EFC is 2994. </p>
<p>What does the private college offer that you have not been able to find in your very good state system (and much less cost?) Med School is very, very expensive - the advice that everyone will give you is to spend as little as possible on your undergraduate degree. </p>
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<p>Discover loans ASSUMES that a parent is co-signing…and those can be used for private or public.</p>
<p>I have a son in med school. YOU DO NOT WANT to have much in loans for undergrad if you want to go to med school. Med school is very expensive and you’d have loans for that. </p>
<p>Anyway…unless your parents can qualify to co-sign and are willing …this conversation is moot…thank goodness.</p>
<p>What state are you in?</p>
<p>Student is in CA. </p>