<p>I currently receive Federal loans. However, I used up all the money and am in desperate need of more. My school told me that I don't qualify for anymore. My tuition is paid, but I need to get my car fixed etc.</p>
<p>I applied for a Sallie Mae loan and a couple private ones like Chase. My credit is average/bad and my parents' aren't good either. I used my dad as a cosigned but was still denied.</p>
<p>What should my next step be? Will anyone loan me any money at this current time? I can't really wait until September (next school semester).</p>
<p>I don't even care if I have to pay an unusually high interest rate in the future. I just really need the loan. Any suggestions?</p>
<p>are you saying that you want to use student loan to fix your car? This is not what student loans are designed for… although it does not stop students from using them for this kind of things.</p>
<p>I hesitate to suggest it, but since you asked, here is a (bad) idea. If you have a job and you depend on your car to get to it, you can try to borrow money from “payday loan” types of places. In no way, I am saying it is a good idea though. This should be your last resort.</p>
<p>Also, can you get a short-term loan from your employer? Some bigger employers have credit unions that can help. Smaller employers can prove their valued employees a short-term loan that can be repaid by deductions from the paycheck.</p>
<p>Also, can you use public transportation while saving to pay for the car repair? You can stop insurance on the car (maybe put parking insurance on it), this will free up some money and try to cut other expenses to save for the repair.</p>
<p>If you don’t have a job, I suggest you get one.</p>
<p>If you just need to fix your car, and you know how much that will cost, talk with your own bank or credit union first. They may be able to help you out. You also could discuss this directly with your mechanic. Some will accept installment payments for work. Lastly, if you have a credit card (or one of your parents has a credit card), can you just pay the bill that way? Talk with the customer service agent about how a bill of that size will affect other bills on the same account - for example, it could push the interest rate up a bit.</p>
Understand that for any type of loan other than a student loan (which you’ve maxed out), you will have to pay interest now, not “in the future.” Loans other than Stafford loans do not defer interest payments.</p>
<p>I work but it’s going strictly to bills. A couple thousand in loans would really help me out and get over the top. I need to fix my car, pay off a couple credit cards and I’ll be good. I’m in a tough spot and just need a little help. Wish I had a good cosigner, because that would fix my problem, but I don’t.</p>
<p>if you work for a large employer, they often have employee assistance program. You should ask HR about it.</p>
<p>If you work for a small employer and have been working for quite sometime, you can talk to an owner and he might be open to loan you the money if he can deduct some amount from your paycheck. My husband has done this for some of his employees in the past. He would not do it for everyone, but the ones he knew he can rely on he did that.</p>
<p>Other than that, you can try payday loans, but it is really a bad option. Can you use public transport while putting money together for car repair? Are you expecting tax refund?</p>
<p>Also check with some charities and emergency assistance in your state. If you don’t know where to start, contact United Way. They may have some options - there might be more options if you let them know that you are looking for a loan, not free money. Do you attend church? Can you ask for temporary assistance from it? I mean the money are not going to appear out of nowhere. I don’t think anyone will be able to propose a magic solution.</p>
<p>I think you could benefit from some free consumer counseling. It sounds like you’re feeling desperate and are willing to consider some really unwise choices (payday loans, etc.) Of course I don’t know what your major is, how close you are to graduation, etc. but it doesn’t sound good. Can you just do without a car for awhile? Look for another job or a job if you don’t have one? The fact that your parents don’t have great credit is another red flag that you need to look at the reality of what you can afford and not just try to live beyond your means using loans. For some students, having a car is just not an affordable option. If you do borrow, make sure you can pay it back quickly - come up with a plan to do so.</p>
<p>Seriously OP, do you not understand how lending works? Perhaps you should follow kathieh1 advice and get some credit counseling before trying to obtain any new loans.</p>
<p>I know how it feels to had a student debt my dear. Everybody needs money and one thing that student have is a financial support through the college year. It’s so hard to wkae upo from his dilemma. Student loans have been called the next big bubble because more and more students are taking on heavier debt loans to fulfill educational goals while the job market recovers.Article source: [Bill</a> may allow discharge of student loans in bankruptcy](<a href=“Personal Money Network”>Personal Money Network). May you find some other alternatives for this financial problem.</p>
<p>In short, no. You need to take the semester off, and get your finances in shape to go to school. Why would anyone lend you money in the situation you have? The chances of getting it back are very small. With your parents credit record, no one wants to lend them money either. It is now a family and life problem, not a college or student loan problem. When you get that part of life straightened out, you can move on to the college and student loan issues.</p>
<p>Seriously, what is it with students who think they need cars? What a money pit! Sell your car and take public transportation. No student in their right mind should be borrowing money to pay for gas at these prices, let alone vehicle maintenance.</p>
<p>You DO NOT need a loan, no matter what you think. You absolutely DO need to learn to live within your means, and plan accordingly. Tuition is covered. The school year is almost over. Just focus on feeding yourself and get through it.</p>
<p>You’ll likely get 500 from a junk yard for the car. That will tide you over ;)</p>
<p>OP, is it possible for you to get by without a car for a bit?</p>
<p>kmcmom13, sometimes students don’t need 'em, and sometimes they do. Not every location has workable public transportation. Some students also have outside commitments which absolutely require a car. It could be for work (e.g. having to shuttle between multiple worksite locations or getting to a locale not served by public transportation) or family (e.g. transporting a child or an elderly relative), for instance.</p>
<p>I understand that many students think they need a car while at college, but I am willing to bet nine times out of ten they don’t; they’ve simply become accustomed to having a car and so they make decisions whereby they “need” one. (eg. Getting jobs off campus with hours that don’t synch with public transit.) If the focus is to be college studies and they’re cash-strapped, the car should be the first thing to go. Between parking, gas, insurance and maintenance, there are few part time jobs that would warrant having a vehicle on campus when you net out actual earnings after expense. </p>
<p>And yet I regularly see kids go off to college, stewing about how to afford it, but who don’t really imagine surviving without a car or pricey cell phone data plan or access to amenities or a lifestyle that can’t or shouldn’t be afforded with student loans (or by cash strapped parents It’s a form of living beyond one’s means, just like financing a house you couldn’t afford, and I feel it’s a big part of what gives rise to the student loan bubble. </p>
<p>To my mind, one of the biggest favors parents can do for kids before they go off to school is to NOT give them a car – reserve that for a grad gift ;)</p>
<p>Most kids do not live on campus. Most kids COMMUTE to college. I know that here on CC there is an assumption that everyone “goes away” to school, but most students actually have to drive 10+ miles to college everyday. In most areas, public transportation isn’t available for daily trips to school.</p>
<p>If this kid commutes, then he needs his car. If he lives on campus, then he probably does not.</p>
<p>Mom2collegekids is absolutely right. If the student can get extra Stafford money by having a parent apply for PLUS and get declined (or maybe get approved) it may be the way to go IF that car is essential for commuting to school. I don’t begrudge transportation expenses a dime for commuters and would be willing for them to be covered by federal loans and grants for those who qualify. It’s the room and board that galls me. </p>
<p>But a car is also part of one’s necessities as a cost of living if you are working a job that so needs one. The OP may have to get rides until he saves enough to get a car fixed. We only have one car in our family, and my kids do have to get rides more often than most and use public transportation. We use the car judiciously. My cousin’s son get a ride to college early in the morning with a family member who can give him that ride on his way to work, and the student takes that ride, even if his classes are later because it is available. He stays on campus till late each day when a parent can pick him up. He’s found a part time job at an on campus yogurt shop and studies during the day. He has no car and has had to come up with a network of possibilities for rides for when his family can’t give him one. A lot cheaper than getting a car, for which he is saving. Maybe junior year’s he’ll have enough. But then there are the risks and costs of ownig a vehicle. If it breaks down and you don’t have the money or credit to pay for the repairs, you have to bum rides. That’s the case for most of us.</p>
<p>I understand that many students think they need a car while at college, but I am willing to bet nine times out of ten they don’t; they’ve simply become accustomed to having a car and so they make decisions whereby they “need” one.</p>
<p>I think you’re wrong. There are only some places in the U.S. with workable public transit systems that will allow you to get to and from campus efficiently. Most places don’t have those. One example - my sister attended a college that was a 40-minute drive by car. The closest train station to us was a 20-minute drive by car. The closest bus was about a 10-minute drive away by car - 5 miles - but assuming the average person can walk about 3 miles an hour, it would’ve taken her an hour and a half to walk to this bus stop every day. In fact, I just Google Mapped a route with public transit and the first direction was “Drive to…”, which took 9 minutes. The last direction was also “Drive to…” which took 12 minutes. The entire trip would’ve taken her nearly 3 hours, which means for a 9 am class she’d have to leave home at 6 am.</p>
<p>Her current school is a little bit more reachable by public transit, but the first directions are still “Drive 9 minutes”, she would have to take two buses and a train, and the entire trip would take 2 hours. Her current job is not reachable by public transit.</p>
It’s a form of living beyond one’s means, just like financing a house you couldn’t afford, and I feel it’s a big part of what gives rise to the student loan bubble. </p>