Any advice on getting a cost of living student loan with bad credit?
I want to get an apartment closer to school (my parent’s house is an hour’s drive away). I’m trying to get a cost of living loan, and I have applied with several private loan companies with my parents (they filed for bankrupcy 5 years ago) and have been denied each time. I’m going to an expensive private college, and am getting about $4,500 a semester through the government, but my tuition is $8,160 each semester (three semesters a year)
So.. any one have any good suggestions? How can I get a loan when my parents and I both have bad credit? I have a school fund from my grandparents, but its only around $20,000.
Thanks for your help guys!
Maybe ask your grandparents to cosign – they obviously are good at handling money. Or consider taking a semester off to work full time and use those earnings instead of a loan. Alternately, you could change your schedule so you only have to be on campus a couple of days a week, and then just rent a room from someone at less cost than an apartment.
