I need help getting a student loan?
I am a freshman this year at the University of Alabama at Birmingham, I was planning on living at home and going to school however my parents just bought a house more then an hour away and living at home is no longer an option. When I applied for Financial Aid based on my parents income I did not qualify for any grants but did get a loan, i’m not sure which for about $1,300 a semester. My parents told me they would pay for my tuition and books (my tuition is all ready at half cost because of a scholarship). I am now in need of $7,500 for a dorm and meal ticket so I can live on campus, I am only 17 so I need a cosigner on a student loan and my parents won’t cosign using the excuse that they have too many loans with the debt/owe ratio. Where can I go and what can I do?
I work directly with financial aid in my profession…you need to ask the school about the possibility of obtaining the Unsubsidized Stafford Loan, and talk with your parents about possibly doing the Parent Plus loan (I know that you said they won’t help you with a loan, but it really is one of the best ways to help you with your expenses) From the federal govt. perspective, parents are still responsible for helping their child with financial aid until you reach one of those 7 milestones on the FAFSA. There are some other independent lending agencies (Wells fargo, City Bank, Sallie Mae) but many of these will require a co signer….e-mail me if you have any other questions…..
