Private Student Loans?
Asked by kellyI attend an expensive private school. This is my senior year and financial aid informed me that I have maxed out my federal aid and would have to get a private student loan. I applied for a private student loan and got denied. I dont have a co-signer and was wondering if anyone has any ideas or lender sugestions? It figures this would happen my senior year.
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Answered by ciessa1203
unfortunately, private loans are based on credit so thats why you need a cosigner. try asking a close family friend if family isnt willing. if you can't do that or they decline, you can side-step the process kind-of. if you are classified as dependent, have your parents apply for a parent-plus loan. when they are denied you would be classified as independent for the purposes of loans and would then be eligible for more fed aid. tons of scholarships are found at fastweb.com/ or finaid.org/ although those would only cut your bill down a bit. hope that helps. good luck!
unfortunately, private loans are based on credit so thats why you need a cosigner. try asking a close family friend if family isnt willing. if you can't do that or they decline, you can side-step the process kind-of. if you are classified as dependent, have your parents apply for a parent-plus loan. when they are denied you would be classified as independent for the purposes of loans and would then be eligible for more fed aid. tons of scholarships are found at fastweb.com/ or finaid.org/ although those would only cut your bill down a bit. hope that helps. good luck!
