<p>DunninLA, it doesn’t have to be loans, and I’m not too familiar with the loan system in the US. In Canada the student loans are administered by the government, so there’s no collateral. But in the case of OP, he can file for need based aid/scholarship and such, and he won’t get as much aid if he’s still with his parents, as his parents’ income is obviously much higher than his own.</p>