How to can I pay for school when I have no money and bad credit?
Feb 26, 2009 in
Financial Aid
yeserodr
So I applied for financial aid, got an unsubsidized loan (because of the bad credit) and still owe the school $8000. I don’t have anyone that can cosign for another loan. What should I do? What can I do, what are my options?
So I applied for financial aid, got an unsubsidized loan (because of the bad credit) and still owe the school $8000. I don’t have anyone that can cosign for another loan. What should I do? What can I do, what are my options?
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One comment
Lea87 on February 28, 2009 at 1:06 am
The Above post is seemingly a SCAM.
Anyways,
Since you said the loan is Unsub, I’m assuming it was a stafford loan. I get unsubbed loans due to my parents income. It’s really unfair because my parents aren’t the ones who will repay these loans. Every student should get Subed loans!
Also, I know at my University if you show that you were denied a PLUS loan, they will grant you additional Stafford Loans, Unsubbed of course. Ask about this! If this fails, try working with your school. My first year in college I was left with a $5,000 bill after loans and was put on a payment plan with the university. Every month I made a payment of X amount of dollars. Unfortunately, these payments are high and some cannot afford them. But don’t give up!
If you’re unable to do this, then you might need to transfer to a Community college where Stafford Loans (generally) pay for an entire year. You can get all of your gen ed’s taken care of while building good credit.
I know it’s rough..I’ve been there, believe me! Stick with it and try all of your resources. Education is important!