If a first year college student can't get a PLUS loan and is already maxed out on scholarships and has a job
Asked by ________________________________are there any other options? It does not appear that the additional unsubsidized loan would cover the balence. They already filled out FAFSA form. the student does not have a credit worthy cosigner. I guess the student could surrender the scholarship and see about a community college(the only thing cheaper than the current school, I believe).
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Answered by DaeRae
If the additional unsub will not cover the balance, there are two options. Many banks will offer a "private" or "alternative" student loan with a creditworthy cosigner. The other option is a less expensive school. These private loans are risky with variable interest rates. Look for one with not just a low rate now, but a capped rate for later. More information can be found at www.finaid.org.
If the additional unsub will not cover the balance, there are two options. Many banks will offer a "private" or "alternative" student loan with a creditworthy cosigner. The other option is a less expensive school. These private loans are risky with variable interest rates. Look for one with not just a low rate now, but a capped rate for later. More information can be found at www.finaid.org.
