Hi I got accepted to Case Western Reserve University and would need about 6k-7k more loans to make it possible. I already have the maximum amount of direct subsidized and unsubsidized loans (5.5k) so would have to take out parent plus loan. My parents are new immigrants to America and have no job and no credit history in America. I thought it was obvious that their loan application would be rejected but I read somewhere on the internet that your loan gets approved even when you have no history. So my question is do you think their loan application would be approved? If not then what are my options for covering 6-7k remaining cost?
If your parents’ Direct PLUS declined, you may be eligible for additional $4000 of Unsub. Direct Loans. See http://www.usnews.com/education/best-colleges/paying-for-college/articles/2015/06/29/4-alternatives-to-consider-when-denied-a-parent-plus-loan
Summer job plus the additional $4000 unsubsidized direct loan could get you there.
How do your parents pay their expenses to live here?
Are your parents citizens? They may not qualify for a Plus loan if they don’t have the correct status.
Op, ask you school if you qualify for Perkins Loans.
Thanks for the replies. My parents do have permanent residence in America. But they are not currently living in America. Btw, I should mention that my father does work abroad but his income is less than 15k. They came to America but they did not really want to live here and moved back to their country. Also they are nearing retirement age (just 2-3 years left, they might move permanently to america after that). So I do not really want to take out loans in their name and would prefer to have it all in my name. Also currently I live with my uncle. I would like to get a job but I’m worried that I cannot travel far away from my home and there is no public transportation system in my suburb. Is it worth to buy a cheap car, in hope that I’ll get a summer job (for 2.5 months) and then sell the car? Assuming my parents plus loan application is rejected, I would get 4k additional unsub loan. Can i ask my university for a loan of 3k that requires no credit check?
They should talk to a lawyer. If they stay outside of US for too long, they may lose their LPR status. Also, your parents should file the US tax returns as they’re LPR.
^^ 4kidsdad is right. Immigration officers take this pretty seriously.
https://www.uscis.gov/green-card/after-green-card-granted/maintaining-permanent-residence
If you need 6-7k more, you might be able to get there but does that include money you will need for books, transportation to and from school on breaks and other expenses that pop up? Be sure to leave a little wiggle room.
Do you have anyone in Cleveland you could live with to save on room and board? Cleveland is very commuter family and CWRU is on the bus and rail lines.
Finally, do you have the option to perhaps go to community college for 2 years then try and finish up at CWRU (if you can get in again later) or at a state school? Do you have a back up plan if you cannot come up with the additional money?
OP, do you understand that YOU can’t take out Parent Plus loans? Your parents must apply for them. Check with Case about Perkins loans, and try to figure out how to earn money without having to purchase a car to do it. You would need to have a job every summer, and you can’t buy a car and sell it every year. Well, you could, but you’d probably lose money every year.
Hi thanks for the replies. So many advice’s here.
First I want to make sure that my parents are aware of the risk of their green card being snatched away for living outside America but still would like to continue with this situation.
The 6k-7k figure is based upon the estimated given by CWRU themselves and includes the money for transportation/books/personal expenses etc.
While I’m fortunate to have family members living in Cleveland, I could not really live with them because Case makes it clear that they will heavily deduct my financial aid if I choose to live anywhere else other than the campus which would make things unaffordable.
Also I’m hesitant in taking up the option of community college. It usually saves money but in my case I’m not so sure. First, right now I don’t qualify for in-state tuition anywhere. Second because my parents live abroad and I’m a dependent student, colleges in Georgia (where I live) have a condition that my parents have to live in Georgia at least an year before I get in-state tuition and I don’t think they will bend the rules for me. I’m really thankful for Case’s acceptance and fin aid package they gave me which makes college education in America affordable for me.
I’m pretty optimistic that things will work out for me as 6-7k is not a huge amount. If Parent Plus loan is approved then I could agree to pay back the loan for my parents. If it is not approved then I could take 4k unsubsidized loan and arrange the 3k amount either by summer job or by asking the school for more loan. But I would be very surprised if my parents loan application is approved without any job or credit history in America. Surprisingly I could not find any rules that says it won’t be approved. Thanks for ur advice! I’ll let you people know if the loan application is approved or not.
If your parents weren’t in the US a certain number of days in the past six months they may have lost their green card. DO check ASAP.