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If I were in your position I would first have the son apply for every scholarship he can, then I would have him apply for every student loan program he can. I would also go to the Office of Student Financial Aid, every college has one and meet with a financial aid officer. Tell them your situation. They will probably be able to help find sources he can apply for. Also most schools have a co-op program where he can get a part-time job in a field related to his major. Speaking of his major, there probably are professional trade associations that sponsor scholarships he can apply for and finally many colleges have a tuition management program where he can pay a portion of his fees up-front and make monthly payments on the balance. Every public Library has a Foundation Center where he can find information on scholarships, fellowships special programs. In short where there is a will there is a way.

AnswerFirst verify that he doesn't qualify with the FAFSA. No matter which route you take - you will be required to fill out the FAFSA, so do it early. YOu can do it online at fafsa.ed.gov

(If you want to look into it more, FAFSA stands for Free Application for Federal Student Aid)

Also your son will be guarenteed (if he doesn't qualify for FAFSA funds) for the Stafford Loans. These generally (at the chepest University) barely cover the cost of the clsses let alone books, computer, etc.

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Q: What can you do if your son needs a college loan but you have poor credit and cannot cosign for him?
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The pros are really only for the person who needs a cosigner. The reason they need one is because they do not have good enough credit to get the loan on their own. By Cosigning with them you are helping them to build their credit with a loan they wouldn't be able to get on their own. It also is listed debt for bolth people so If the cosigner trys to get their own loan later they will take that additional debt into account against them. The big con is that if the person you cosign for doesnt pay you are liable for all the money and if you don't pay it it goes against you credit. Be very aware who you cosign for and that they can be trusted because they can hurt youre credit as well as theirs if they don't pay.


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Does a cosigner have to have a good credit rating to cosign?

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Can a person with bad credit get a loan with a cosigner with good credit?

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How can your daughter 18 buy a car without a co-signer?

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