Hello,

I applied for and received a private student loan for the previous semester and ran through most of it. I am planning for my final semester and need another one. I have applied for and received almost all federal aid available to me but my expenses are higher than they covered. I have attempted to lower all my expenses so that I don't use much of this loan money but I have reached my limit. There are no viable alternatives other than dropping out and finishing the degree later since I cannot borrow the money from anyone or sell anything else.

I applied through Sallie Mae and Think Financial and was denied by both. The Sallie Mae phone rep told me that it was most likely because they tightened their requirements because of the market. I am not sure where to try next but any help would be appreciated. I have a co-signer that had about a 650 the last time we tried and I am in the mid 500s, no bankruptcy's or defaulted student loans on either one of us.

Have you tried www.myrichuncle.com? The loans are financed by Doral Bank (I think), and the interest rates are insane for their subprime loans, but they take into consideration your GPA, major, and standing in school when evaluating your loan application. I took a loan through them last semester and it helped bridge the gap so I could finish my BA. That being said, however, if you do use them, you will have to follow up VERY CLOSELY as their tracking/customer service is not the best. Just be aware that the interest rate is MUCH higher than what you are paying on your unsubsidized federal loans (I chose to not defer my payment with them for that reason alone). Hope this helps . . . Good luck!