Sally_Rubenstone

Question: My daughter just graduated from high school and needs a loan for college. My husband and I have horrible credit and cannot get a loan. Can she get one? Assuming that your daughter can’t find an adult co-signer with good credit (grandparent, aunt, uncle, etc.), she should talk to a financial aid officer at [...]

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AidAdvisor

Stafford loans will work here (after looking at the link I see this is a hypothetical), Sub, if financial need & unsub up to a total of about $5500 1st year. If you want an overall strategy, 1) understand what you can do to increase your eligibility for financial aid before you file the FAFSA 2)Understand the schools you select - how much money they give out historically and make sure you have these on your list, 3)You will end up with an amount out-of-pocket that you must pay. The thing here is to look at all your options and find out how to pay for this on the best terms possible. If you have assets, should you use these or not and if no assets, then what is the best way to borrow money - there are many options here. I do not like parentplus loans, but usually these have less restrictive credit qualifications as they are gov backed. But just borrowing year to year can get you into a catastrophic situation if you are not careful. Best to look at the whole picture, all 4-5 years and have a plan to accomodate everything