Need College Help Freaking Out!!!!

[juice_1080]

I went to apply for my loan for next semester and it was declined. They didn't say why yet but I don't know what to do. I don't have the money to cover next semester or even close. I don't even have anyone to co-sign for me (my parents have worse credit than me) Last time I checked 2004ish My credit score was 691ish and I haven't had any credit problems so I don't understand it. I don't have any loans or credit cards out besides student loans. The place I have been going through for my loan is for bad credit loans because everyone else has declined me. I have been using them for the past 3 semesters without any problems and now they decline me this semester. I am totally and completely screwed right now.
Does anybody know what I can do to make sure I am able to continue with my college career and even pay for rent next semester? BTW the loan amount would be around $5000

 

[jerthunter]

Maybe you should get your credit report checked, there could be a mistake that is showing up and causing you to get declined.
Otherwise I have no idea, look for grants or scholarships maybe.

 

[renogaw]

i would agree, get your credit scores.
if you were declined for a loan, they must give you a free copy of the reports they used to decline you.

 

[natemd]

Talk to financial aid and see if they can help. Contact the loan company and find outwhy they declined you. I agree I would pull my credit report as well and see whats wrong.

 

[stdreb27]

did you not fill out a fasfa? They will offer you govt sponsored loans, no matter the credit score, they are need based.

 

[jrthomas40]

yeah go with fasfa and the sallie mae foundation as long as your household income is not to high or you live by yourself on campus you should get quiet a bit of money...check with financial aid services....sallie mae does loans for fall and spring so you dont have to worry about it between semesters just during the summer

 

[juice_1080]

I just got back from the Financial Aid Office.... I guess you are supposed to apply for a Parental Plus Loan every semester (didn't know this) Well I guess that is how you get the Federal Unsubsidized Loan ($2,000) if your parents get denied (which they will). Plus since I will be Junior status after this semester I will get another $1,000 in Subsidized Loans. I am also entitled to $2,000 of Unsubsidized Loans that I did not receive last semester. This means that I will be able to cover this next semester.

Man was I panicked today.

I have worked to hard to try to get into college (didn't pay attention in High School

and never planned to go to college) and come up with ways to pay for it (I have tried at least 2 dozen banks the first semester). I really didn't want to have to call it quits after all that. Especially since regardless of whether I continued college I would have had to come up with $2,000 by the end of December to pay for next semesters rent.
Why can't things just work out to my advantage for once. Without jumping through hoops every semester

 

[jrthomas40]

could be worse...i am going for my masters now my BS was completely paid for by the state of alabama then my mom paid the first $5000 of my MS with some money she saved for me when i was a baby (dad took some in the split then summer classes ate the rest) so needless to say i had 4 semesters left last fall and i took out 2 loans and i now owe $36000

 

[juice_1080]

Fasfa doesn't cover everything I needed and Sallie Mae declined me last time I tried. I am waiting to get a response about why I was declined. They said it may take up to a week (I don't know how they can decline me in 30min and then take a week to tell me why.) I will make sure I get my credit report from them if I am legally allowed to get it from the for free. My credit shouldn't be horrible. I had 2 credit cards that I payed off ahead of time ($2-3,000) and a car loan for $10,000 that I payed off 2 years early because I sold the car. Every payment was on time or early and usually more than the required amount. The only thing I can think of that would have effected my credit was the fact that on one credit card the company had messed something up and thought that I owed them more money and never bothered to tell me until they labeled the account as delinquent. But that should have been resolved (maybe thats the problem) that was in between the last loan and now.

 

[juice_1080]

I know the feeling semesters add up quick I don't even want to know what my final loan balance is going to be when I am done. This is my 3rd year of college and since most of my credits from my previous college didn't transfer I have a good 2-3 years left for a Bachelors. Plus when I go to the Masters program. Big money....better be worth it.

 

[renogaw]

Originally Posted by juice_1080
Why can't things just work out to my advantage for once. Without jumping through hoops every semester

well, college is SUPPOSED to get you ready for the adult world...
glad things worked out

 

[juice_1080]

we will see its kinda technical right now. I am banking on the fact that the Parental PLUS loan gets denied. If it doesn't then I am not sure. I know my parents can't afford to pay it and I cannot either right now. Plus they will only make that out for the tuition amount from what I understand. Which means that I would still need to come up with $2,000 for rent in 3 weeks (Which I cannot do)

 

[juice_1080]

I know its supposed to prepare me for life. Which I am well ready for. Before I went to college I worked in a factory for 2-3 years and lived on my own. I already learned that I will completely stay away from credit cards the rest of my life. I will also try my hardest to never have kids (they are expensive and I can't stand them). I know I was once a kid but they're not for me.
I guess if this is preparing me for life than I am going to be screwed over the rest of my life. I wish I could just have parents that didn't

[hr]
up their credit so I could just go about college like a normal student, not having to wonder where the money for the next semester will be coming from and if I will be able to continue college.

 

[juice_1080]

hmmmm, I guess I can't say S C R E W

 

[renogaw]

is $2000 rent for the semester? are you living on campus in the dorms? if you're paying 2000 for a month, move. don't pass go, just move.
if you're in the dorms, then that should fall back to financial aid. if you live close enough, time to start commuting.
as for your financial issues, credit cards are NOT all that bad, but you should also live within your means. IE pay off the credit card EACH month. there are things you will have to have credit for, and credit cards, so keeping within your budget will help more than not having a credit card. No bank will give you a mort/gage without a proven track record of credit.
honestly, if you were working and living on your own, you cannot blame your parents for not being able to send you to college. they make night/weekend/online classes for people who have to work. can't fall back on your parents the rest of your life unfortunately and i'd have to say that the "normal" student HAS to worry about financial stuff--not every parent can afford to send their kids to college--so you're probably not as alone as you think you are.

 

[juice_1080]

I live off campus and the way this town works you pay up front for the whole semester through most landlords. I don't have a home other than this anymore. My mom has a 2 bed appt an hour from here with my brother. My dad has a 2 bed appt 4 hours from here with my step-brother. So neither have room for me anymore. So I am completely on my own with everything.
I only plan to have a car and house loan which should build credit.
I am not blaming my parents for not supporting me I just wish that they had normal credit histories so that I could get a decent loan. I know that most people don't have college payed for. I am not asking that my parents pay for it. I have never been given much if anything in my life so I don't expect it. I work for everything I have. My parents have been in tight money situations all of my life and have had to file bankruptcy 2-3 times. I know they can't do much for themselves let alone me. I wouldn't want them to. I just wish that when it comes to student loans that the decisions weren't so heavily weighted on the parents financial history.
I have done the full time job with college and I will never go back to that. I was working 10pm-6am and going to class from 11am-6pm. That was the worst 8 Months of my life. Thats why I had to drop out and reconsider my options. Online is not for me. I have thought about it but I realized that I had a hard enough time remembering to do the pre-class quizzes for Physics on time.
Sorry if this sounds angry or anything thats not the intent I just couldn't figure out how else to word this.

 

[juice_1080]

Uh oh....I was to busy typing this and now I have a gallon of RO/DI water on the kitchen carpet.....Who puts carpet in a kitchen anyways????

 

[tangman99]

You don't have to wait for the credit report. You are allowed a free credit report from all three agencies once a year. If you have not received it, go to freecreditreport.com and sign up for all three. You will have them immediately and you can see what is on there. Now you are entitled to it for free when you are denied so if you can wait, you don't have to use up your free ones now.

 

[autofreak44]

why is it so friggin hard to get an education.... they say stay in school and they dont help very much lol....

 

[juice_1080]

Originally Posted by autofreak44
why is it so friggin hard to get an education.... they say stay in school and they dont help very much lol....
They don't want everyone to go to college. Ever heard the saying "it takes money to make money". This applies to college pretty well. That and they probably want everyone to join the Army to get into college. Of course I completely oppose what the US is doing to the rest of the world so that option is out for me. But we wont touch that subject. It gets way to heated way to quick. Plus nobody wins