<p>So I desperately need a student loan for college just for the first year.</p>
<p>I didn't qualify for any aid and not scholarships that were presented to me by the school I surpassed the maximum income limit </p>
<p>But I know I will be able to qualify for
aid next year since my adoptive parents are going to give up there parental rights and sign me back over to my biological mom</p>
<p>So far I've covered about half of it on my on. I'm waiting on notification of one more scholarship "full tuition"
but while I'm waiting I figured I should start a loan appeal just in case</p>
<p>My first cosigner
Got denied because a bad credit history and bankruptcy </p>
<p>My second cosigner
has a good credit score
but got denied for judgement collection/action or something which she says happened years ago</p>
<p>"I really dont understand what that is but apparently she does"</p>
<p>Another family member of mine said he would consider cosigning for me but I had to call and talk to him first</p>
<p>And a really close teacher of mine volunteered to cosign my loan if everything else didn't work out
but I think I would prefer to try a loan appeal before I get anyone else involved "it really is a pain constantly filling out applications"</p>
<p>I think my second cosigner the one with the current good credit score but judgement collection thing would be easier to appeal
Anyone agree?
Has anyone done a loan appeal or knows how the process works??</p>
<p>but I know I will qualify for aid next year since my adoptive parents are going to give up there parental rights and sign me back over to my biological mom</p>
<p>I’m not sure that can be done once you’re over 18…how old are you?</p>
<p>why don’t you take a gap year, and see how things work for next year. You have to talk to the lenders and find out each one’s appeal process. It’s not something any of us would know. Since you are not the reason the loans were being denied, the cosigner would be the one who would have to go through the appeal process, formally explaining and fixing the issues in the credit history. If those cosigners do not want to do this, there is nothing you can do. Most of the time, if any of us are rejected for some thing credit wise, we want to investigate it and challenge it, because it goes on our credit record adversely. That these cosigners are not aggresively doing this seems to me, to indicate that they know what the problems are, and there is no fixing them or they don’t want to do so.</p>
<p>You realize that with private loans, that the cosigner is really the one on the hook. If you die, are disabled, drop out, or for any reason can’t pay the loan, they are equally in trouble, even more so than you. </p>
<p>I’m not sure, how this turning you over to your biological mom thing is going to work–I mean, once you are 18, can this even be done, since you are an adult for all things other than college financial aid, and if you have to specifically say that is why you are doing this, would a judge allow it? I don’t know, but it sounds rather sketchy to me.</p>
<p>But for this year, you cannot get more that your %$5500 in Stafford loans, and if your parents are turned down for PLUS DIrect Parent loans, then you can get another $4k. You probably have some options for local state schools or community college for that amount of money, especially if you work part time, and if your family could come up with a little bit of money, and you commute from home as you did for high school.</p>
<p>I think you should take a gap year and apply to schools that will give you merit scholarships for your stats.</p>
<p>Expecting friends and such to co-sign loans is asking for trouble. They might do it one year, but then when they realize that it affects their credit or have other concerns, they likely won’t continue.</p>
<p>I am going to a state school.
The school is about 25k
and community college is no good in the engineering field </p>
<p>I don’t believe I have a gap year option even if I take off a year and reapplied to schools later I would still be in the same situation financial aid wise</p>
<p>You originally stated that you won’t have the problem next year. Some colleges will give you a gap year if you request it, and you may not have to apply.</p>
<p>There is nothing wrong with starting at a CC, even for engineering. You can take math and science at a CC … my friend teaches chemistry at a CC, and she has had students go on to engineering schools & do well.</p>