Question by Ginger: What financial aid will work for me? For my situation (and individual loan for housing Q)?
So right now, I am 19 and attending an Art Institute. I was told that I couldn’t get any money through any federal student aid on my own (like i really would like to do) under the condition that my I am not old enough. Also, my mom tried cosigning a gov’t loan, FASFA…? But was denied due to bad credit, my barely willing father, however, was able to but wants off of it ASAP. I want to take a loan out in my name but didn’t have any credit. Since then, I got a credit card with a $ 700 limit that I’ve been using for everything expense related and pay it off monthly and haven’t missed a payment for going on 7ish months. But with such a small credit line, would this even help me get a student loan, gov’t or private? What options do I have, if any?
Also, if I have to stay with my father as my cosigner without any other options, would I be able to qualify for a different loan to help pay for student expenses such as housing? I live about 17 minutes away from college in the “dorms”, with 2 other roomates paying $ 850/month through my current student loan. A studio apartment right next to the school however would be $ 600/month. Long term, it would be cheaper to live in a different place closer to school. Could I get a loan, if even a separate loan from my student loan to help pay for housing/a loan to cover partial? I am financially independent without any other source of income than what I make from my part time job. I couldn’t pay $ 600 a month for a place to live on top of car insurance, gas, food and internet, BUT, I could pay partial if that would give me another option. I really want to move out, and its only a helpful factor that its cheaper and closer. Thank you for your time
Best answer:
Answer by The Coaching Educator
Scholarships for merit are available.
Unload the car and the insurance and that will save a ton.
Get rid of the cell plan and go to track phone.
Get rid of cable or any other unnecessary item.
Sell what ever you can sell.
Use the schools public transportation. If you live in a dorm then they have transportation.
Like all students, you will have to include you Father and he has a right to not keep cosigning. It sounds like you picked an expensive school that you cannot afford to attend and you didn’t qualify for scholarships. It is wiser to move to a more affordable school and get your degree. Artists that have talent get paid whether they have a degree or not.
Rethink your college plan and apply to schools within your budget.
Know better? Leave your own answer in the comments!