Greetings,
I not long ago practical for primogenitor tyro loan as well as was denied. Are there any alternative options to compensate for my childs education? We practical for monetary assist as well as he is competent for up to ,000. This is not sufficient to compensate for a initial year.
Any suggestions will be appreciated.
Your child can get federal Stafford loans on his own without a cosigner and without having to pass a credit check. He will not have to start repaying them until after he graduates or drops out. Since you were denied a parent PLUS loan he will be able to borrow a bit more than the average dependent freshman. Regular borrowing limits for a dependent freshman is 5,500 a year.
There are other sources for loans and/or free money available. Talk with one of the college counselors. Good luck.
The same thing happened to me. You have to take the copy of the denial letter and take it to his financial aid office and they will give you the amount…they will just make it into to an unsubsidized loan.