What private Student Loans can I get if my parents have declared Bankruptcy and they are my only Co-Signers?
A question asked by Chris McKinney: What private Student Loans can I get if my parents have declared Bankruptcy and they are my only Co-Signers?
Alright, I am sitting here with 4,989 in Finacial Aid from my FASA and now I need to turn to private loans. The problem is my only Co-Signer’s (my parents) declare Bankruptcy about 6 years ago. Does anyone know of any loan service that will give us a loan so I can go to college?
Best answer:
Answer by Holly
$ 4989 seems like a low amount to receive for a student whose parents can’t afford school. Are you sure that isn’t your EFC? Is this the amount on the award letter from your college?
Well if they declared bankruptcy 6 years ago, it’s almost off their credit. Hopefully they have repaired it somewhat since then and at least have a decent score. If not, you’ll be eating it in interest.
Contact your bank/your parents’ bank. Only use them as cosigners if you must. Try it alone first. Options: Bank of America, Wachovia, Citibank, College Loan Corporation, Sallie Mae. You can find them all online.
Also if you want to try for scholarships, go to http://www.fastweb.com and see what you can apply for.
You can also contact your financial aid office and ask about work-study.
Good luck!
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