If i'm a parent with bad credit where can i get a loan for my daughter who has no credit?

Question

I looking for a loan i can qualify for so my daughter can go to college, It has to be a loan the school doesn't accept government grants os scholarships.

Answer 1

Hello There,

You can get a PLUS loan even without having good credit..

It just depends on the lender you are trying to go through..

I work with Student Aid Lending, we are a nationwide lender administered by the Department of Education...

Feel free to take a look at my website at

http://studentaidlending.com/

You can also feel free to call or email me directly with any other questions..

Jason Fry
Student Aid Ledning
800-964-0642 ext 114
[e-mail]

Answer 2

I would reconsider the choice of school if the one your daughter has selected doesn't accept federal aid--this is very much in the minority. Federal student loans have protections for students that no other loans have, such as deferments until the student has separated from school, interest rate caps, and other things.

I understand the school may seem attractive, but there are tons of good schools which will not leave you in a further financial bind, and force your daughter to start her adult life under the weight of huge debt. Schools which participate in the federal loan programs can also grants, which would not have to be repaid.

Even if your daughter could get a loan on her own through Sallie Mae or another lender, she would need a co-signer.

Answer 3

Start by filling out the "fafsa", a free financial aid form from the department of education. This is a necessity for student loans, which are primarily needs based. You might want to also consider looking for schools that do have scholarships and grants as loans must be paid back, whikle grants and scholarships are real financial aid, apying the bills and not requiring payback.

Answer 4

There are a lot of scholarships available. I suggest going to Google and conducting a search from there. I actually won a $5,000 scholarship about a year ago, and I recently found another contest by the same company for a $10,000 scholarship. It's free to enter, so there's no reason not to.

http://www.alllsite.info/scholarship.php

Good Luck!

Answer 5

I would avoid allowing my daughter to go to a college that is not accredited. If they don't participate in Federal Financial Aid, either they are not accredited (so the diploma may only be worth a piece of paper) or they have done something to lose their Federal Stewardship. Either way, I would advise against it.

Answer 6

if you take out a parent PLUS loan and are denied, then your daughter can take out be eligible for a addition 4 or 5 thousand in unsub

Answer 7

take a loan from bank.