<p>We do not believe we will be eligible for fin aid. Due to some past debt our credit score is quite poor. Is there any kind of loan that a parent can get with a bad credit rating? Is there a loan our D can get without declaring herself financially independent? Thanks</p>
<p>I <em>think</em> federal loans like Stafford and Perkins are not credit based, however private loans will be.</p>
<p>My parents filed for bankruptcy a few years ago, it has been impossible for them to assist my siblings and I with our education. In all likelihood you will be denied the PLUS loan, but you will be required to apply for it anyway. After you are denied for the PLUS loan, then your D will qualify for additional funding through the Stafford program. If that is insufficient to close the gap, then she can apply for private loans. However, it is unlikely that you will qualify as a co-signor; a family friend, relative, or other concerned party may be able to substitute. It's an unfortunate situation, and I sympathize/empathize. I hope this information helps.</p>
<p>PS: One way to save your credit score from being dinged up further during this whole process is by knowing your FICO score in advance. That way, lenders may be able to advise you of whether or not you qualify without running your credit report.</p>