I am trying to go to school.. I am a single mom of 2 girls one of which is a special needs child and is in and out of the hospital alot. So i am unable to hold down a job. I took out a loan last fall semester thru sallie mae tution answer with a co-signer as I have bad credit,but due to bills etc it was gone fast. I want to take out a another loan for the summer and fall. But my co-signer died recently and I have no one else. i have tried all the TERI loans and was turned down. I did fill out a FAFSA and waiting to hear about what I am able to get. I need something to get me through the summer and possible early fall semester. I don't know what else to do and I have to stay in school or i have to start repayment. Any help or advice appreciated. Thank you.

Carrie
email address removed.

Hello, I am in a similar sitituation. I was shocked to find that Wells Fargo (through my school) approved me for a loan with no co-signer.

What type of school are you attending? I have a big problem with someone who cannot work borrowing private funds period. Don't get me wrong....it is wonderful that you are working on your education but with a special needs child, borrowing private loans is a disaster waiting to happen. Private loans do not offer hardship or low income payment plans, nor do they have deferment or forebearance priveledges.

I am hoping that you are attending a community college or state university. With your lack of income, the combination of Pell grants and federal aid should cover your education expenses. When I was working financial aid, I remember a couple of students with special needs kids that were getting additional aid from the state to help cover expenses...some special program.

I am attending a community college. I got a fee waiver for my fees. I had a job in the fall but lost it due to my daughter being tin the hospital for about 80 days between august and december. i have no one else to help care for child,I receive respite care for my daughter of 30 hours per month. I filed my FAFSA and awaiting to hear about what I can get. My concern for now is this summer . I will be applying for whatever I can get and spoke to the school's financial aid office regarding my situation. I am going to go over to Wells Fargo and see if they can help me obtain something. I need t go to school to get a better job to afford better health insurance. Her medical bills are very high and the hospital is working with me on payments so I don't go to collection. Thank you all for your advice.

Carrie

Your daughter should qualify for medicare or SSDI heath benefits with your income level and with her being disabled.

My concern is if you borrow these private loans and you still cannot work due to your daughter, private loans are not going to wait for you. They have little to no deferemnts or hardhship payments.

she does recieve ssi and state aid health insurance but they only pay a portion of it. i'm not worried about her bills as how i am gonna be able to take care of my kids. i am not eligible for any state aid because i have a car and they say i make too much moeny..haha funny. thanks again.

Wow what state are you in?


Check with your school, and see what year summer is part of. Some schools count this summer as part of 08-09, others count it as 07-08. If it is the latter, I would recommend working and not taking classes. Come fall, you should recieve ample federal aid to cover the cost of community college. As a parent you are considered independent, regardless of your age. Your two dependents should help with getting a sizeable Pell Grant. Then there are Stafford Loans, which as a previous poster alluded to, have lower interest rates, and are generally flexible should hardship come up during repayment.

Also, Stafford loans don't check credit. If you don't have enough Grant $, the Stafford is the next step.