d7novum

As an upcoming sophomore, my 1.9 GPA from freshmen year lead to a Presidential Scholarship to be removed for this fall semester. As a result, I need to take out a $10,000 loan. Both my parents are immigrants, they cannot afford to help me more than they already do which is 5,800 for a year. My dad earns around 32,000 a year and my mother is a house wive. The only way my dad can pay his taxes is by using his IT number. He told me he doesn't have a good credit. That's the problem, I need a co-signer to take out a loan. Is there any way I can take out a loan without risking the poor credit of my father. I do not work, however I do own a student credit card that I took out this summer from wells fargo. I use it only for family emergencies.
I already graduated from a community college, leaving me with an Associates degree. The main reason of the removal was due to the my persistence in Biomedical Sciences, the sciences classes knock down my GPA really hard.
I cannot take out a Parent PLus loan because my father is not a citizen, leaving me only to a private loan. I received 36,000 in financial aid last year. This year I will be getting only 26,000 for a 43,000 private school. Is taking out a loan a good idea? PLus my brother is also attending college this year. There is absolutely no way my parents can help me.

happymomof1

You cannot afford this school right now. Talk with your advisor about taking a leave of absence so that you can get a job and save up the money you need to continue your education.

aunt bea

I agree with Happymomof1. You need time off to build up some savings. How would you get a private loan if you don't have a credit-worthy co-signer? You parents can't help and you have a brother attending college this year.

You want to attend a school that costs $43K per year with a 1.9 gpa. No one said that attending an American university would be easy. If you picked a difficult major, why would you want to repeat the same disastrous results and get into debt for $43K. Additionally, the structure of your grammar indicates that you also have some deficiencies in English. I'm really surprised that you're not on Academic probation. Use of a credit card with interest would be a big MISTAKE. You'll owe money AND get frustrated by the major.

Talk to an advisor at your school and take a leave of absence. Get a job and build up your savings and while you're doing that, go online and buy some cheap English workbooks and study a little in your time off. Good Luck!

mom2collegekids

You need to ask if you can take off a year and then return.. During that time work and save some money. Put the savings in your parents' bank acct.

You should not be borrowing and since your parents can't co-sign, you don't have other options. Frankly, since this shortfall is because of poor grades, no one should co-sign for you.

Do not use your credit card...big mistake. If you use it for "family emergencies", then be sure to have your family pay it off when the bill comes.


I already graduated from a community college, leaving me with an Associates degree. The main reason of the removal was due to the my persistence in Biomedical Sciences, the sciences classes knock down my GPA really hard.


?? What is your major? Why were you taking classes in "biomedical sciences"?