eligibility for student loans
Date: Wed, 04/15/2009 - 14:24
eligibility for student loans
Both me and my husband have good income but bad credit, a lot of debt but we always paid our student loans, we don't have bad history with the student loans, car payments and mortgage.
We entered a debt settlement program and now we are out of it.
I am considering bankruptcy for me and my husband but maybe after she gets to college.
I just don't know how can this affect the eligibility to get a student loan for my daughter. If we don't qualify for a parent loan, can she apply on her own, even if she's 17?
FAFSA did not give me anything, they expect me to pay everything. How can I get a loan or what can she do for this year? What do other students with parents in bankruptcy process do to pay for the college?
Any shared experience would be appreciated.
She will be able to get $3500 unsub loans by herself...there is
She will be able to get $3500 unsub loans by herself...there is no such thing as being a minor when it comes to student loans. You will have to apply for a PLUS loan and more than likely will be turned down ...which is good. It allows her to get additional federal unsub aid.
[quote]
Parent PLUS Loan Denial
If a Federal Direct parent PLUS Loan Application is denied, it may be possible for a student to borrow an additional amount of unsubsidized Federal Direct Loan. The dependent student annual and aggregate maximum allowable loan limit will be replaced by the independent student maximum allowable loan limits.[/quote]
This basically means she can get an additional $6000 in unsub funds. So hopefully she is looking at local state college.
Actually she's looking for a private one, I can put some of my s
Actually she's looking for a private one, I can put some of my savings down, is there a way that she can apply by herself for a private loan though? I can pay for the loan based on my income, the problem is my credit, nobody will give me a loan.
Once she's 18 what does she need to do in order to start her credit history, of course I will be backing her up with the payments....thanks for your quick reply :)
Go for federal aid first. Try to make due with it. With the ec
Go for federal aid first. Try to make due with it. With the economy right now, it is very difficult to get a private loan period. A lot of students are having problems even with a good cosignor.
Any tips on how to deal with federal aid, FAFSA didn;t give me a
Any tips on how to deal with federal aid, FAFSA didn;t give me anything, should I try again with them for this year?
I might sound ignorant but this is my first kid in college, and I really don't have experience in this field.
Thanks again!
Talk to the financial aid department at her school. And your da
Talk to the financial aid department at her school. And your daughter should be studying this information too.