<p>I applied for a Parent Plus loan on studentloans.gov, but was denied based on my parent's credit history.</p>
<p>However, I heard that if you are denied, you still get some money. What do I do now, to get this money?</p>
<p>Talk to your school’s financial aid office. If you are a freshman or sophomore, you can borrow up to $4000 additional unsub student loans due to the PLUS denial (might be less if you reach your Cost of Attendance with less than $4000). However, you will need to go through the school’s process for obtaining these additional student loan funds.</p>
<p>That’s $4K per year, I’m thinking, with a disbursement of $2K per semester? Jon, is this for the $5K bill you had due a few weeks ago? If so, it’s not going to be enough…you need to move home and commute, no matter how much you’d rather dorm.</p>
<p>Sk8rmom is correct. You will not have enough money if you have a $5000 bill. You only have two options: your parent can get a co-signer or you can borrow a private student loan (but this will probably also require a co-signer). These are really not great options. If you can get out of your housing contract, you may need to do so.</p>
<p>You will only get $4000 in unsub loans as a result of the denial. After loan fees, this is $1990 per semester. You need to seriously consider what this means for you.</p>
<p>Have your parent file an appeal they will have to submit certain documents and it is a lenghty process. But in the end you will get monies</p>