Stafford Loan questions!! Denial? Sub and unsub

<p>Ok so here goes I am all new to this so bear with me!
I applied for student loans last week I have nery bad credit (my fault from the first time going to school, young and stupid?) Then I get a call telling me that I am denied for my student loans. They asked if I could get a cosigner NO! My parents won't do it because of my prior history! But I thought that you could not be denied a stafford loan? I thought that this is what I had filled out for? I tried to get ahold of my financial counselour and nothing no response yet?</p>

<p>Can you get denied for a stafford loan? This again is from an independent student not applying with parents? Please help with any information that you may have?? Thanks!</p>

<p>are your previous loans paid back or in process of being paid back?
If your previous loans are in default- you will not be eligible for addtional loans</p>

Student Loans
Consequences of Default on Student Loans
When you receive a student loan, you sign a Promissory Note that contains significant legal obligations. One of these obligations requires you to repay your loan according to the Payment Schedule and Disclosures Form given to you by your lender or their representative. If you become significantly delinquent in your monthly payments, your loan may be defaulted.</p>

<p>In the event of a default, the following may occur:</p>

<p>While in default, you will not be eligible for any federal or state financial aid.
Every loan entering default status is reported to a nation-wide credit bureau as an "Educational Claim". This negative entry will remain on your profile as long as there is an outstanding balance. Even after the amount is paid, the profile will reflect a "Paid Collection Amount" status for seven years after the paid date. This negative status may affect your ability to obtain credit for a mortgage, automobile or personal loan, or credit card.
If your loan(s) enters default status, you become subject to the IRS Offset Program. A claim will be filed against any Federal Income Tax refund. Any funds received under the IRS Offset will be credited directly toward your outstanding balance. This will be done every year as long as there is an outstanding balance.
Lenders have the ability to initiate legal action in every state and abroad, possibly resulting in wage garnishment and property liens. All collection costs, lawyers fees, etc. will be added to the principle of your loan.


<p>Emeraldkity is correct -- you cannot get additional student loans while in default on previous ones. Otherwise, if you are just talking bad credit in general (credit card debt, etc) then you will qualify for Stafford Loans -- Perkins too, if the school awards them to you.</p>

<p>I didn't really have loans they are all cc debt but a bunch! The first time I went to school, I didn't have to take out any student loans so I don't have any student loan debt if it matters? This is the first time taking out loans for school!
My main question is: Can you even be denied for a stafford loan? I have been researching and from what I can tell there isn't any information on this. I have found infor. that you can get this on bad credit because it is need based not credit based, but then why the refusal? Just not understand the process I guess? I thought that stafford loans were guaranteed? Am I wrong?</p>

<p>if it isn't student loans- you should be eligible
you filled out the FAFSA and they denied you?
<a href=""&gt;;/a> ( for help with Federal loans)</p>

<p><a href=""&gt;;/a&gt;&lt;/p>

<p>yes I filled out the fafsa....then a loan application also from wachovia. then I got a call from wachovia stating that I needed a cosigner. MAybe that was just for a regular loan. Don't you pick out a lender for your stafford too.They are the only lender that I picked. I went ahead and tried again on aes because the wachovia wasn't even showing up on there. Now I chose BOA and it shows up?
Bear with me. I am new at this lending part. again my first college exp. was all paid I don't know too much and my financial counselor is now missing in action after calls and emails?</p>

<p>No, man. Try to go straight through "the gov." Like the Ford Program or something, alright? </p>

<p>If you are sure, Jenilyn, that you did not mess up anywhere when you used to be in school, then you can get the Stafford loans or the Perkins (if your school recognisees the Perkins). </p>

<p>Be sure your past record with the other school is Kosher. Be totally sure of that. And, then speak with someone else in fin aid.</p>

<p>Do you have any links to that ford program or others that I can take a look at?? My other school info is fine, thank god!! I did ok back then, just going to school at 17 and having ccs was like giving candy to a baby learned my lesson though!! And still learning the hard way!! </p>

<p>So sad that I am getting more info from here and this forum that my school will even help me and tell me about! I am so glad I found this!!</p>