Hello everyone

I'll be returning to school this comin gspring semester and I'm in need of a student loan and I don't have a cosigner. My score is in the mid 600's and I only need a small amount ($4000). What is my best option? I really need to get this so interest rates are not an issue for me.

Can someone let me know how this whole process works?

Have you done a FAFSA yet? Read your schools financial aid web page?

Yeah I just sent mine in last week but I'm pretty sure they won't give me much if anything at all which is whyI'm not relying on them. They have screwed me over a few times in the past so I'm just willing to bite the bullet and take out a school loan.

FAFSA doesnt screw you over....you get what you are eligible for whether it be loans or grants. You are however for for up to $3500 in unsub loans. You are better off waiting to see what you are awarded first.

Okay well in the meanwhile, what are some good options for the loan?

I second the recommendation to fill out the FAFSA and complete that process.

If you're going to go for a private student loan (not a Direct Loan or FFELP loan), then be very careful and read the documents very carefully. This is not a good market for private student loans and the rates have gone up and so have many of the features, especially interest deferal. Many will require that you make interest payments while you're in school.

Thanks..now which private companies are the best out there?

I'm wondering the same thing.

I'm pretty sure I will get about 9,500 from my stafford loans but that isn't enough to live on.

I will probably work (if I can find it) but only 15-20 hrs a week max, probably at a very low wage.

Plus I have to svae some money to move to another state to transfer to a 4yr Univ.

Any ideas on loans?

this advice was given to me from my financial aid counselor: "start with the credit union with our name on it and banks that are physically close to the school"

she couldn't say exactly which banks were good lenders, and I don't know why, but that was her answer, and it worked.

good luck to you.

Schools and FA officers are not permitted to name lenders for fear of conflict of interest.

There is no income limitations for unsubsidized loans when you fill out a FAFSA. It depends on your school on whether they'll let you take out the max or not. My husband has a 6 figure income and not only did I qualify for $4600 in loans per semester I got a tuition waiver too. Ive never heard of FAFSA "screwing" anyone.