What do I do, as a student, when i am denied a loan but can’t recieve grants or financial aid?
November 11, 2010 by admin
Filed under Student loans
My dad just lost his job in may and my mom doesn’t make much money. He isn’t receiving unemployment pay. I called the financial aid office at my school and they weren’t too helpful and told me that they couldn’t really do anything.
I applied for a Student loan (like i have for the past 2 years) but my mom cosigned this time since my dad has no income. They denied my loan.
What do i do?
well try calling fafsa, like i did today. was your efc low or high???? If mom doesnt make much, and dad’s out of a job I dont see a problem here. . . . unless probably if you are an only child . But regardsless I still say try calling fafasa.
Good luck!!!
Please be very wary of these offers below. Federal Title IV loans should always be your first option(outside of paying for tuition outright). If you’re parents have poor credit you may wish to have them apply for a federal Parent PLUS loan. If they are denied this loan, you may be eligible for additional unsubsidized federal Stafford loans.
Good Luck
Shawn
Im really new in this field of student loan and grants since I’ve been a international student for 4 years in america, but my wife has both parents disable with almost no income to speak of and she got financial aid every semester. I think you should dig deeper and never rely on the service of a simple clerk. Always go further to the people that make the decision. Remember that this people that offer you little help are just hourly employees that now less about customer service.
ok so I was in the same situation except now I get grants. Ok I dont know what state you live in, but apply for a parents plus loan, if your parents cant co-sign for a private loan they will most likely and hopefully get denied for a parents plus loan. When they get denied, you get an extra 2,000 in state loans, or at least you do in NJ. The stafford loan will tripple your third year, so you should be getting aroun 6,500, (3,250 for each semester. ) If you are going to a state school, this might be close to enough. Work two jobs all summer and pay the difference, that’s what I did my first two years, also if you have a close relative, I mean CLOSE relative they can maybe co-sign for you, but it’s asking a lot. I wish you all the luck in the world!!