I am afraid to help her, because my credit isn't that great. Is there anywhere else she could turn? She already has recieved financial aid through fafsa. But it only paid for less than half...please help!
2006-10-02 02:49:19 · 5 answers · asked by ♣ 4 in Education & Reference ➔ Financial Aid
she does work, but she is going to a trade school for nine months. she needs tuition paid soon. Its 12,000 financial aid paid for 5,000. She's applied for grants and such, but she really needs a loan....for about 6,000. How can I help without signing the loan?
2006-10-02 02:59:14 · update #1
Unfortunately there is not a whole lot you can do besides co-sign for her. I see so many of these questions from people in these situations. The fact is, if you and your sister have a good relationship and you trust that she is responsible enough to pay her loan back, then co-signing isn't that huge of a risk. The great thing about student loans is that they are usually fairly forgiving as far as repayment goes. Most are deferred while the student is in school and the repayment is usually spread over as long a time frame as possible. So my advice is to just talk with her, make sure she knows that you are putting yourself at risk to HELP her get through college and that you expect that she will do everything possible to make sure that nothing bad happens to your credit. It may even be a good lesson for her to be reponsible and carry through with her obligations. If you decide to co-sign, check out http://www.thinkfinancial.com They are a great private loan company and were very easy to deal with. Good luck.
2006-10-02 03:55:03 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I've never heard of needing a co-signer for a FAFSA loan - her credit must be pretty horrible. To be honest, I wouldn't recommend anyone co-sign for her. If she becomes deliquent on the loan, the co-signer's credit will be negatively affected. She should find another loan or something, but it might hurt both parties in the long run if she uses a co-signer.
2006-10-02 16:17:53 · answer #2 · answered by chocolate-drop 5 · 0⤊ 0⤋
Can your parent(s) help out as a co signer? If you think your credit is not good I can recommend a great website for you to get your credit report for free and you can look at that and see what is all on it and work towards correcting it. You're entitled to a free one annually. Go to www.annualcreditreport.com and request your credit reports from all 3 credit bureaus.
2006-10-02 10:01:14 · answer #3 · answered by nabdullah2001 5 · 0⤊ 0⤋
I would suggest no, I would not want to be stuck with a huge sum of money, just in case she could not pay it back, instead work on you credit, one of the most important things you can do in life.
2006-10-02 09:52:59 · answer #4 · answered by sidekick 6 · 0⤊ 0⤋
LOTS of people
WORK their way through college
hmmm?
2006-10-02 09:55:26 · answer #5 · answered by art 3 · 0⤊ 0⤋