so, college loans!

DarkSymphony

long story short: I'm unable to get a private school loan, hence I can't go to school until I do.

short story long: I've got everything setup for college and signed/applied for. The last thing is to apply for a private school loan. My parents *refuse* to co-sign. Their reasoning is that they can't afford it (should I not be able to start paying them back after I graduate in 4 years). This leaves me up shit creek without a paddle. I simply don't have the funds available to cover what the Stafford doesn't cover (along with any grants and such).

Basically, I'm in a program that will guarantee me full, matriculated acceptance after I pass 14 credits worth of classes with a B average or higher. Within this time period the amount of funding that's available from the Stafford is severely cut back and I'm cut off from most other facets of funding until I've been matriculated.

The info I'd like to gather from people around these parts is; am I screwed if I cannot convince my parents to co-sign? Are there any other ways to do this? And lastly, Are there any other things I can apply for and do that I'm not aware of?

VisionOfClarity

Have you applied without a co-signer yet? Also, have you checked with multiple banks?

DarkSymphony

I applied for the private loan myself, yes. I have applied to VSAC (Vermont Student Assistant Corporation)
and I was told my credit score doesn't quite match the requirements. I know I have good credit, it's just (clearly) not good *enough*. So now I need a co-signer.

I was under the assumption that if my credit isn't good enough to get a private loan from 1 place then I'd be unable to from elsewhere, correct?

VisionOfClarity

That depends. I would call your school's finaid department and see what they suggest. I know my roomie was able to get student loans through Sallie Mae without a co-signer when she started college and she didn't have a lot of credit.

DarkSymphony

alright I called VSAC again (since the finaid department of my school is closed for the day) and said that "it may be the case where I won't get a co-signer at all" and the guy said "well if it comes to that, call us back and we'll see what your options are from that point forward" so, being that I heard that, I asked him what those options are (if there were indeed options outside of needing a co-signer) and he told me "That's something I'm going to have to wait on to discuss with you, so call us back when you find out".

I know for a fact I can't get my parents to co-sign (unless you guys could come up with some seriously impenetrable defense of a reason to co-sign) and the possibility of finding a friend or family friend who would do it, is relatively slim. I'd rather not waste my time asking all my friends (with good credit) and family friends if, throughout this whole time I could have just gone with other options.

So now I'm a little lost and confused as to what to do exactly.

VisionOfClarity

Call them back, talk to someone else and find out what those options are.