Is she even eligible for these federally funded loans? If she is, these would be the easiest for her to get. But the school will use these funds to pay HER bills first, and what’s left would come in the form of a refund to her.
Your sister does NOT need a loan for room and board. She is living at home. What does she plan to say when she applies for this student loan? Does she plan to say she needs it for her own room and board…because that is a flat out lie.
I’m really not sure why you are balking at a personal loan taken by your sister.
Is your sister eligible for any Parent Plus Loans? You know those are government funded…right? But if she has this eligibility, maybe that would work. Your parents could take a Plus for your sister…and give you the money. BUT a Plus can only be taken up to the cost of attendance…and if your sister commutes, net cost of attendance might be too low to get a Plus.
Are you saying…you haven’t paid a dime of rent to your landlord at all since June? Why did you choose to live in an apartment that costs you this much money? You knew you were short on financial aid money long before now…and frankly before June. Was there no less expensive option…like sharing a room with someone else? I know…it’s too late for that now.
Do you have a job? How much of your earnings can you dedicate to housing?
And please answer…did you take the $7500 Direct Loan for this academic year…and if parents don’t qualify for a Plus…are you eligible for $4000 additional? Have you asked your financial aid department? Did your parents apply for a Plus and get denied because you are too old?
@KatMT the sister can take out a personal loan and use it for anything she pleases. But they don’t want to do that.
The sister also doesn’t want any government loans…and really if she is even eligible for those, they would be the easiest option.