Question by .:Kimberly:.: Student Loans with no income or cosigner? I do not have a job, and have no car or way of working off campus, and too busy with classes to work on campus. I don't have established credit either, but all this is pretty common for a first year college student. My parents, uncles, aunts, grandparents, and cousins credit's all SUCK and the highest is a 530... This might come as a surprise but I am the only one in the family to finish high school and then continue to college. I'll be a sophomore next year but we can't afford it. I've heard of people getting student loans by themselves without a cosigner and all that, but I have yet to find any anywhere. Even my financial aid office says I need a "credible cosigner". It seems my options are try and see if community college has the classes I need and postpone the stress for a year, or drop out and save up to pay my own way. I am a good student, maintained at least above a 3.5 always. It seems like all the money goes to people who waited til they had a few kids to go back to school, which is cool but I'd rather not have to do that... I might add, FAFSA believes my parents make too much money for their money. No pell grants this year... I'll get the same Sub/Unsubsidized loans as this year, but that wasn't enough this year WITH the pell grant money... Best answer for Student Loans with no income or cosigner?:
Answer by Cronus
Get a federal student loan of the Fafsa website, you don't need a co-signer and they dont do a credit check.
Answer by Juanaquena
Based on the information you gave in your question, you will not be eligible for a private loan. Transferring to a local community college, which will be the best education-cost value around, is a good idea, if you cannot afford the school you currently attend. Or, finding a paying job (a full-time job or several part-time jobs), earning money, living very frugally, and saving as much of your earnings as possible, while you take a year off from higher education, is another viable idea, so you will have funds to apply to your college expenses when you do return. Since you have a good GPA, perhaps you are eligible for a scholarship from school you are currently attending. If you have not asked a financial aid adviser at your school about that, I recommend you do so, soon. Many colleges/universities have scholarships for just their own students. Receiving a scholarship may make the difference as to whether you can return to that school or transfer to a CC or take a year off to work, earn, and save money. Personal opinion: When students indicate that they are too busy while in college to even work at a paying on-campus job, I wonder. I worked at an on-campus job all 4 years of my undergraduate studies. Although the wages were only just minimum wage and the jobs were not glamorous, the advantage of the on-campus jobs were that they were easy to get to/from classes and campus and the work schedules were made around my class times. My grades did not suffer from the time I put into my on-campus work, either, as the jobs were only part-time - less than 20 hours per week. I had more than adequate time to study and work on my college course assignments and projects. The earnings from on-campus work helped cover my on-going personal expenses while in school. (Note: I had no car through college and through graduate school, either, which actually was a big cost savings.) Librarians--Ask Us, We Answer! Find your local Public Library at: http://www.publiclibraries.com/ Find your College/University Library at: http://lists.webjunction.org/libweb/Academic_main.html Best wishes
Answer by Kyle Busch is an å°» â„¢
Stop looking for, or expecting, handouts. GET A JOB, kids have been working their way through college since the dawn of time.
Answer by Serietah
Get a job. There is no way you are "too busy" with classes to even work a part time job on campus. You cannot get any loan without credit and since you have no credit, you need a cosigner. Since you have no one with good credit to cosign, you need to find a cheaper school or ways to cut your expenses so your loans are enough.
Answer by just not that
you are getting a Pell grant and it STILL isn't enough? LOL you chose a school you can't afford. Did you FORGET you were going to need money to attend college? Time to get a job (part time) and take out a federal student loan (Sub and Unsub Stafford loans) and make a more MATURE decision this time and enroll at a school you CAN afford. Most students in your situation (never had any other family members go to college) don't seem to GET the whole (im going to be in college for FOUR years thing) and make the same mistake you do. You need to work and save and realize what you DID save will need to be divided by the number of years you have left of school. ie: graduate from high school and intend to go to college 4 years to get your bachelors degree with a bank account of 8000 means you can afford a school costing 2000 a year, not 8000 a year (divided by 4 years) if you don't get any Pell grants and don't want to take out loans. You COULD ask your parents to take out a PARENT PLUS loan for you, they don't need to have incredibly good credit to get one, the down side is that they will start making payments the month after you get the loan and if they can't afford it, you are up a creek when they default.. find a better school.!
LeahCoss.ca Hi, everyone! How are you? It's Leah Coss with The Mortgage Centre, and I wanted to talk about being a cosigner, because I do get questions about this all the time. It's also called being a guarantor, and it's typically done on big items like on a car if you're trying to get a lease on a car or car payments to own it. It's also done on mortgages. Where this is useful is, if you can't qualify for a mortgage on your own, you have someone who could help you to qualify. Because they've got good credit, good income, stuff like that. Then they come onto the mortgage as well, and it helps to boost your application so that you can get it approved. Typically done for students or young people, first time home buyers. Maybe they want their parents to cosign for them. Now, I want to direct this video, specifically, to the people who are being the cosigners or guarantors, and answer the quick question of, "How am I liable? Where can this get me into trouble?" Well, with cosigning, if you're trying to get a mortgage yourself later on or renew your home, or refinance your home that you currently have... If your bank that you're going to to get your new funds from knows that you're a cosigner, they will want you to debt service this. What that means is, they want to know, "Can you qualify for both mortgages on your own?" It doesn't matter that there's someone else on the mortgage as well. They want you to qualify for both mortgages because they don't have control of that ...
http://thegreatcurve.com Downfalls to Being a Co-Signer/Guarantor
If you are in the process of filing bankruptcy and are wondering whether or not you can include your student loans in the bankruptcy, unfortunately the answer to that question is invariably no. Student loans are exempt from ... Many people who file for ... Loan and credit help: Student loans and bankruptcy
When you search for financial aid regarding college funds you have a couple of choices. First you can attempt to get a scholarship, which will pay for some or all of your education. Once you have explored this option you have student loans.
The Federal government provides a few programs in regards to student loans. They have the Pell Grant, which is awarded to students in need of financial assistance. The Pell Grant does not require you to pay the money back. The government also has the Stafford Loan. The Stafford Loan must be paid back.
You may also elect to go through a private lender for your student loan. If you choose this option you will need a co signer. A private lender will examine your credit report. They will determine your risk and if you have no credit history ask that a family member co- sign your loan before they award it.
The only loan that does not require a co-signer will be the Stafford Loan.
This is due to their process of lending you money. Student loans without a co- signer do not examine your credit history. Instead they will ask you what degree program you are in, what school you are going to attend, and your parents' income. The government feels that all parents should contribute to their children's education. So they determine what a parent can afford to provide during the year.Then the government decides what they will award the student. Typically the Federal Loan will cover the tuition and books. In some cases it can also include student housing. However, for student housing to be awarded as part of the loan the student must live on campus. If the student does not they will need to seek an alternative for paying rent- unless their housing choice is part of the university or college in some manner.
When you obtain student loans without co- signer you generally do not get rewarded a large amount due to the risk factor.
Still, there are many reasons to attempt to get a loan without a co- signer. You may not have a family member who can sign for you. You may also have a good enough credit history to pass the private student loan application without a co- signer. This latter situation is rare for undergraduate degree programs, but if you are a graduate you may find student loans without co- signer. Suggest Options - Student Loans Without Cosigner Articles
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