<p>Hello, I was hoping I could find some assistance here for a problem my roommate has. We're currently enrolled at Western State College of Colorado and are both new transfer students.</p>
<p>I was able to secure a loan to pay the remaining costs I had after my financial aid. My roommate was not as lucky. He was not able to get a loan due to his credit and lack of any possible co-signers. His financial aid covered some but not all of his costs and now he is looking at the possibility of having to go home.</p>
<p>He needs to pay a little over $3000 for this semester with the first payment of around $750 due this upcoming Tuesday(9/7). He's talked to the Financial Aid office several times but they say there is nothing they can do. Any help from his relatives seems unlikely due to financial restraint. We've been looking online for any possible solutions to no avail.</p>
<p>Hopefully someone on here can help steer us in the right direction. Gunnison, Colorado is a beautiful place and it would be a shame for him to be here for such a short time only to be forced to go home.</p>
<p>In the future, perhaps he should consider attending a low-cost CC in the area and then transferring during either his sophomore or junior year after working part-time to save up money.</p>
<p>How was he planning to pay for school? It is really a terrible idea to start at school without the finances lined up before hand.</p>
<p>There is no magic fix. Does he already have the maximum in Stafford loans? If so his options are limited.
-His parents can apply for a PLUS loan.
-If their credit is bad and they apply for a PLUS loan and are denied then he will be eligible for an additional $4000 in unsubsidized Stafford loans (but only half would be disbursed this semester so he would still be short $1000).
-he can try and get a private loan but this would require a cosigner with good credit (and from you post it sounds like he has already been unable to find a cosigner). </p>
<p>It sounds like he needs to look for a school that is more affordable for his situation.</p>
<p>This is one of those situations that is hard to reconcile. Agreed…how DID he think his bills were going to be paid? The reality is that students need to have a payment plan BEFORE they enroll…not hope that one will materialize AFTER they enroll.</p>
<p>The school doesn’t meet full need and likely will not be able to offer more aid to this student…and they don’t have to.</p>
<p>You mention the bill due Tuesday…but these bills will continue for the next couple of years, until he graduates. How will THOSE be funded? It’s not just this term or year…it’s the rest of his time at this school.</p>
<p>Can his parents help him at all? What do they think he should be doing for college?</p>
<p>At this late date I think his options are 1) pawn shop or 2) family to the rescue or 3) poker game – but that last one may make him loose whatever he has. </p>
<p>I can appreciate that this is hard for you to watch unfold. Have faith that you are being a good friend by not being judgmental and working to help – but you may not be able to fix this.</p>