<p>My parents are not eligible to receieve the PLUS or any other loan because they have such bad credit, and I am being denied for every loan I apply for. I am a transfer student at a two year school. I was an RA this year to cut down costs but I cannot be an RA at the school I'm supposed to be going to so my tuition is still just as high. Is there any other way to get money for a substantial loan? If I don't get another loan or cosigner I can't afford to go to any school. Does anyone kow of any student loans which a student with only a part time job can get?</p>
<p>If your parents were turned down for the PLUS, then you are eligible for an additional $4000 in Stafford loans. So if you are a sophomore that would make you eligible for $10,500 in Stafford loans ($11,500 if you are a junior). Stafford loans do not require a cosigner. </p>
<p>Private loans will require a cosigner.</p>
<p>I in the same boat as the author of this thread. I want to call out swimcatsmom’s advice as erroneous. This is something that is in fact supplemented by a state or university itself and not the Stafford loan.</p>
<p>mattyb…please site your source. If the parents APPLY FOR and are denied a Parent Plus loan (note…denied), the student IS able to take out an additional $4000 in Stafford loans in their own name. Stafford loans are federally funded. They are not state loans. Please site where you got this information that says they are supplemented by the state or university. Stafford loans are not supplemented by the state…or the university.</p>
<p>The federal aid rules are pretty straight forward on this point, and swimcatsmom and Thumper1 are correct. If the parents are denied a Parent PLUS loan (or even if the college financial officer determines that the parents would be denied if they applied), then the student is eligible to take out an additional $4000 in unsubsidized Stafford loans.</p>
<p>Let’s see. Regular poster to the FA forum with 8000 posts vs. someone with a first post… Hmmm.</p>
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You need to check your facts before you say other people are wrong. If a parent is turned down for a PLUS loan a dependent student becomes eligible for an additional $4000 in Stafford loans. Stafford loans are federal loans.</p>
<p>matty, I hope you are able to get the additional Stafford loan IF your parents are denied a Plus loan. You need to go and ask about this at your school’s financial aid office.</p>