I can't afford that right now.
What can I do? Are there any non-FAFSA loans I can use, with bad credit? Please help!
Suggestion:
The first step is to contact the college's business office to make sure that this amount is correct and current.
Second, make sure that you have already taken out the maximum federal loans that you are entitled to before looking into other options.
The next step is for your parents to take out a PLUS loan if they are willing to and if they qualify. PLUS loans are taken out solely in the parents' name and payments begin while you're in school. They have to apply for this loan, and may be denied (but the qualifications are less strict than for traditional loans). If your parents are denied a PLUS loan, then you will be allowed to borrow up to $4,000 more in stafford loans (the amount an independent student can – assuming that you are a dependent student currently).
After the above two steps, you will need to apply for private student loans. If you do not have excellent credit, it's very likely that you will need a cosigner. If no one is willing to cosign, then you will not qualify. Your last option will be to start working ASAP in order to pay off your account balance — and then, to look into transferring to a less expensive school that you can afford.
The government is regulating student loans, and working hard to make it more difficult for private student loans because students find themselves too deep in debt when they graduate, and they cannot afford to make their loan payments (because they chose to take on too much debt). Therefore, while it was once relatively easy to get loans… that's not the case anymore.
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lol sucks to be u
Not likely. If you don't have good credit, its going to be hard to get a private student loan without a cosigner.
However, if you have a parental cosigner, you are automatically approved for the federal PLUS loan. I would look into that:
http://studentaid.ed.gov/PORTALSWebApp/students/english/parentloans.jsp
getting a student loan is a great way to get a really good credit score. and it isnt that much money to pay monthly.
i got a loan that was about $8,000. last i checked, my credit score is a 724. ive had it for 2 years now and my monthly payment is $162.00 a month.
in case you are unfamiliar with credit scores, that is a really good score! being young, you really need to establish credit somehow for your future. if you dont have any credit history, it gets hard to be on your own. some apartments may not even be willing to rent out a place for you if no credit history is established.
and if you have bad credit, you may need a cosigner. it might be easy to get one since it is only $3,250
i hope this helps
hi
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