Calling all R3v student loan gurus.

[Joe G]

So I am going into my senior year and I am fucked. My FASFA Parent PLUS loan was just denied because my dads credit is too bad. I need to come up with roughly $24,000 to finish school (9 credits this summer, 18 fall, 18 spring). KU has already granted me the max in other loans/grants, but it obviously isn't enough. I was approved for ~$24,000 in need based aid, but like I said based on my dads credit I was not given the money.

Are there any other loan types anyone has been successful with if you have a parent with poor credit, no other co-signer, and a very limited credit history yourself?


Any suggestions help at this point. I am freaking the fuck out. I have busted my ass to get to this point and I really hope lack of funding does not prevent me from graduating this year.


Thanks,
Joe

[750]

There is always the military.

[evandael]

No matter what, you'll graduate if you really want it. It may just take longer, and honestly, just enjoy being in school longer if it comes to that.

Relax man.

[Lof8]

Thats a tough situation. My only advice is take out the absolute minimum you can get away with. Paying them back is not as easy as I had pictured. I thought, "I'll land a killer job and pay it back in a year or two." Shit is not that easy!

[Dozyproductions]

If there is anything T.V. has taught me for situations like this... just cook meth.

[IronFreak]

Look into other financial institutions besides Fafsa, like a local credit union.

[z31maniac]

Cut back on the credit hours and getting a job is pretty much the option. Yeah it sucks it will take you longer to graduate, but it's better than not graduating.

Private student loans are typically MUCH higher % than gov't backed loans.

[IronFreak]

^ True, although the Gov't back loans are going up too, interest rates on them just doubled.

OP have you looked into any scholarships? It might help reduce cost. What's your field of study? I'm in the construction industry and there are many large companies like Keiwit that have great scholarship/grant programs. Maybe look into some of those bigger companies as well.

[SmokeE30]

You could go with private loans like salliemae but it will be around 9% interest or so. That's what I had to do and paying it back sucks. I pay around $550 a month in student loans now that I graduated after 5 years. Look into doing some gen Ed glasses at a community college to save some cash as they are a lot cheaper. It's a shitty situation I've been there but thankfully found a family member to consign on a private loan for my last year of college.

[nando]

can't you file for aid independently? I think you can under "special circumstances".

how old are you? do you live at home?

looking back I'm glad I was able to work full time while going to school full time. Working graveyard sucks, but I wasn't stuck with tens of thousands in debt either..

[LJ851]

Romantic male massage in your free time?

[slaterd]

Id try going through your bank...lower interest rates

[DarkLordFreeman]

I have recieved Fafsa financial aid/grants on an independent basis. So when you are filling out all the information, there is a way to say you are completely independent.

The schools financial aid office should be able to help you out no problem! Just make a couple of quick phone calls. I literally filled out the application and everything as being an independent student, and they will always loan you more than enough in college man!

The key after getting the loans (this will be my first time with student loans) is to always improve your grades and GPA, or so I have read. If you can improve how well you do in school it will increase the likelihood of them loaning you more money and easier man. I am a pretty good student, but this is my first year with student loans completely, and I filled it out as independent. THEY WANT TO LOAN YOU MONEY. THEY WANT YOU TO GO TO SCHOOL MAN! I promise.

[SmokeE30]

I wouldn't say they want to loan you money but they do make bank off of interest so if they think you can re-pay they wanna give it to you. Yes you can file to become financially independent. My friend had to do that because his parents although being separated, combined they made too much money for him to recive aid. Be careful though you'd talk it over with your schools financial aid office

[Thizzelle]

isn't their other options for the FASFA loans? Never herd of the parent one. Just claim independent and I think they give it to you. Then you have a 6 month grace period after you graduate before you have to start paying.