hi all! i (f20) am in a bit of a bind right now. long story short, my parents are having trouble covering my tuition & i need to get a loan to, ideally, cover $54k. unfortunately, all of my family’s credit scores are terrible and they cannot cosign a loan—i have to do it by myself. i recognize there’s no way in hell i can get the full loan by myself, and my family is okay with that. ideally we are aiming to borrow $10-20k. i would like to borrow as much as possible without completely frying my credit with the hard inquiries. i already tried applying to sallie mae for the full $54k first with my dad as a co-signer, and second by myself—i’m not really trying to do that again. so, i kindly ask all of you: how much money can i reasonably apply for & receive? any and all advice you have is immensely appreciated.
my credit score is 664. & i don’t know if it’s relevant, but i work at my campus cafe & i made roughly 9,000 dollars last year.
how much money can i successfully apply for? [no co-signer]
byu/Zestyclose-Seat-2108 inStudentLoans
Posted by Zestyclose-Seat-2108
2 Comments
A parent needs to take a federal parent plus loan on your behalf. Parent plus loans don’t require a good credit score… just an absence of an adverse credit history.
That being said, it sounds like you need to find a cheaper route to finish your degree after the current term.
Like if Sallie Mae rejected you, that is not a promising sign.