Undergrad help on loans

[Tim Haas]

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Hey all. I need some help here. Last year I was stupid and went to a 30k a year private school but only ended up w/ 15k in loans and 15k in grant. ANyways, I had a cosigner sign for me for a sallie mae loan, however, she wasn't relaly a relative and i can't ask for her to do it agian.

My family has horrible credit...every single person. I need to get a loan for around 8k that I can use half for my tuition and half for living off campus. I have only had a credit car for about 5 months but have paid off every month so my credit is good. With this said, should i be able to get a loan myself w/o having a cosigner? If not, what type of loan would i or should i go for? I was told stafford of course but what is a good loan source?

Thanks a bunch. ANd i'd need the loan paid to me rather than my school, cuz i'd need the extra $ for living.

-Tim Haas

 

[tlew12778]

I'm a little confused. Is there a reason that you don't qualify for standard federal loans? BC you don't need cosigners for those. You just need to put down two references so that they can come and track you down if you ever miss a payment.

According to finaid.com you should qualify for the following:

Stafford Loans allow dependent undergraduates to borrow up to $2,625 their freshman year, $3,500 their sophomore year and $5,500 for each remaining year (independent students and students whose parents have been turned down for a PLUS loan can borrow an additional unsubsidized $4,000 the first two years and $5,000 the remaining years).

The amount of Perkins Loan you receive is determined by your school's financial aid office. The program limits are $4,000 per year for undergraduate students and $6,000 per year for graduate students, with cumulative limits of $20,000 for undergraduate loans and $40,000 for undergraduate and graduate loans combined.

Your school should give you the difference back if your tuition is less than the loan disbursements.