Private Loans

Paying for College
1

<p>okay so I am one of those college students who has had to fund college via private loans. Yes yes yes.. I do know that is most likely one of the bad ways to go about it but there is no turning back now.</p>

<p>I am now faced with a situation where I alone am not able to get the loans that I have been getting. Yet my school loans help with my living expenses, so now I'm faced with using a co-signer. My parents have no problem co-signing for me as they did that when I started school back 3 years ago.</p>

<p>I applied for one and suddenly I'm being turned down even with a co-signer, does anyone know of a private loan program that I can use with my bad credit and my credit worthy co-signer? OR a private loan company for my parents to get the loan through without it being a plus loan for them?</p>

<p>Please help!!!</p>

2

<p>If I were you, I'd try more lenders to see if one of the other ones will approve your loan. They all have their own criteria, so just because one turned you down it doesn't mean the others will too.</p>

<p>If you're the one with bad credit (not your parents), then you might look into Education Finance Partners, which has both co-signed loans and a "sponsor" loan where someone borrows on behalf of the student but the student isn't on the loan. This has two disadvantages over a co-signed loan: (1) you don't get to build your own good credit, and (2) you can't take advantage of the feature of a co-signed loan that allows the co-signer to be removed from the loan after 3-4 years of on-time payments by you. But if it's all that works, you could try it.</p>