I am in an rare lose/lose situation to with Financial Aid Please help?…?

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Basically I am a continuing undergraduate student trying stay in school. I have A 3.25 GPA and I cannot get any financial aid becuase they said my mom makes to much money but she only made that money through overtime last year trying to pay for a house in her name…. her pay rate is about 14 dollars an hour . Her and my dad seperated so shes living pay check to paycheck trying to keep up with the mortgage by herself. Her credit is messed up due to late mortgage payments and hospital bills so she cannot co-sign a loan for me.I have no one else to co-sign a loan for me and I have no credit…I’ve filled out at least 70 to 90 scholarships and I havent won any yet…I’ve been denied by every loan company i’ve applied to…. All I want to do is go to school….I feel like I cant control any of it…Please tell me is there anything I can do???????

  1. Reply
    May 3, 2011 at 2:07 am

    You can’t get staford loans?

  2. Reply
    May 3, 2011 at 2:17 am

    You can work and pay as you go. That is what I did. I worked at night and went to school in the day. I still owe a TON of money for loans….The scholorships won’t come in if they haven’t and go for the grants anyway! Good luck! Nana

  3. Reply
    May 3, 2011 at 2:38 am

    work & save. -gimmie gimmie is for elementary school

  4. Reply
    May 3, 2011 at 2:56 am

    Hi Junior – yes, your problem is difficult. I know a bit about financial aid, so maybe we can walk through the process. When you apply to your school, you fill out the FAFSA form, which tells you how much your COA (cost of attendance) is. if there is more cost than federal subsidized loans available to you, the rest can be made up with a PLUS loan, taken out by your mother. Now, it sounds from your question as though her credit is not good, which means she’d be denied a PLUS loan. HOWEVER, once your mother is denied this loan, YOU are eligible to apply for Unsubsidized Federal Loans – you’d need to talk this over with your financial aid office. Remember though, they can’t let you apply for this loan UNTIL your mother applies and gets denied – only THEN can you apply for it.

    You may also want to contact the Federal Direct Lending program and see if they can help you. There are MANY restrictions and regulations on federal money, so there is only so much they can let you borrow.

    You will have some difficulty with private loans, but I would suggest contacting a lender such as MyRichUncle, which helps with federal and private loans.

  5. Reply
    Megan Michelle
    May 3, 2011 at 3:44 am

    I had probably the worst credit and got approved. You would be surprised who can get money. I would try for a loan through like fasfa. I think they do it. Good Luck..

  6. Reply
    May 3, 2011 at 3:59 am

    Talk to your financial aid counselor. If she is not making that income anymore they may be able to take that into consideration. As your parents are separated I hope that you filled out the form correctly and only included your mother’s income and not your fathers as well, if you did include your father’s the financial aid office can make this adjustment to help you correct the fafsa to your true family situation. Have you borrowed as much stafford loan as possible? If your mom is denided the PLUS loan you can borrow additional unsubsidezed loans as if you were an independent student.

  7. Reply
    Joscelyn C
    May 3, 2011 at 4:24 am

    You can get stafford loans- up to 20,500 a year. Your financial aid department should have told you about that. The next best thing you can do is get married or have a kid- then you won’t be dependant and you can probably get a Pell grant if you are poor enough.

  8. Reply
    May 3, 2011 at 5:03 am

    Speak with a financial aid counselor to see if you can do a professional judgement on your fafsa. If your mother is paying for hospital bills, depending on how much it is per month, this is be used to reevaluate your financial aid package.

  9. Reply
    May 3, 2011 at 5:49 am

    take a semister off get two jobs and work work work….. make sure you are majoring in something useful that can earn you enought so that it is all worth it…… drop me an email if ;you want… criss

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