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I am a SAHM and I would really like to go to school but..

No one will give me a student loan. I don’t understand why but they keep telling me I have to get a cosigner. My husband can’t do it because he has loans out for his schooling now. I have no family that is around or that would even want to help.
What can I do? Are there any grants or anything I can get to go to school?

 
Anonymous

Asked by Anonymous at 4:39 PM on Jan. 4, 2010 in

This question is closed.
Answers (5)
  • The reason why you need a co-signer these days is:

    1.) Because you have no or very little collateral.
    2.) Because your debt to income ratio is high (which includes credit you have, but don't use, and your husband's student loan)
    3.) Your credit rating is low or marginal
    4.) Banks want to be SURE they get their money back, and if you don't show as having the means to pay it back, then they want you to have a co-signer that DOES have the collateral or the ability to pay, should it become necessary.

    It doesn't cost a co-signer anything to co-sign a loan for you. You just need to be ABSOLUTELY CERTAIN that you can and will pay back the loan, otherwise the co-signers credit will suffer along with you and your husbands.

    In the meantime, I would just take individual CORE courses in the major you want to syudy at your local community college, that you can later transfer to your college of choice when you CAN afford to go.
    LoriKeet

    Answer by LoriKeet at 4:54 PM on Jan. 4, 2010

  • Try FASFA
    suzyb1980

    Answer by suzyb1980 at 4:40 PM on Jan. 4, 2010

  • Thanks
    Anonymous

    Answer by Anonymous at 4:42 PM on Jan. 4, 2010

  • FAFSA
    missanc

    Answer by missanc at 4:43 PM on Jan. 4, 2010

  • Thanks LoriKeet
    Anonymous

    Answer by Anonymous at 5:02 PM on Jan. 4, 2010