<p>Is it possible to get a private loan if you haven't had a job? I'm 21 and i'm going to be a junior in college. Before this time i qualified as an indipendent student, and as such, was able to take out what i needed for classes. However this is no longer the case (my mother was originally denied the parent plus loan for two years, thus i was independent, now this year it has changed somehow (do those loans run off of credit?)).</p>
<p>Anyway, is this possible even without a cosigner? I'm aware that i might get a lower rate if i did, however, i do not wish to burden my mother or anyone else i know about this. (as for getting a job, i cannot for a while yet. I am very sick and i have to go back to class to be able to keep my insurance).</p>
<p>thanks</p>
<p>You were never an independent student. You were able to qualify for additional loans because your Mom was turned down for the PLUS loan. It brought you up to the same loan level as an independent student, but that was because you were a dependent studentd whose parent was turned down for the PLUS loan - it did not make you independent.</p>
<p>It is extremely unlikely you will find a private loan without a cosigner. You are a student and have no job - no bank will lend you money without a cosigner they can go after in the event you do not pay. Is your Mom willing to take the PLUS loan out? it may be the best rate you will get, if her credit is not very good. Also, if she has poor credit, it is a lot easier to qualify for the PLUS than it will be for her to be accepted as a cosigner.</p>
<p>Is your insurance through your school? Because you don’t have to be in school to stay on your Mom’s insurance. If you are so sick, are you going to be able to keep up with schoolwork?</p>
<p>I thought as much. </p>
<p>Anyway, my insurance is through my father. I’ll be fine with doing school work.</p>
<p>With the new health law, you can stay on your dad’s insurance until you are 26. You don’t have to be a full time student under the new laws.</p>