2006-12-29 06:36:26 · 2 answers · asked by Kathy 3 in Education & Reference ➔ Financial Aid
Private student loans are credit-dependent, so if you've got too much debt (high debt:income ratio) or a poor credit history, those loans will not be available to you without a cosigner.
Also, minimizing debt will help keep college affordable, because the more you have in cash, the less you have to borrow.
Hope this helps!
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2007-01-03 05:29:51 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Because if you are considering certain loans, they may order you to get debt counseling especially if you've had any previous debts.
2006-12-29 14:38:55 · answer #2 · answered by The Ultimate Answerer 3 · 0⤊ 0⤋