Help with a loan due to Immigrant parents.
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.