Do i need a co-signer for a student loan?
Nick Dominugez Asked: Do i need a co-signer for a student loan?
my school is going to cost 100,000 dollars for 4 years but i want to get a 180,000 dollar student loan for expanses will they approve me or now
Answers:
Laylas Mom Answered:
Student loans are done on a yearly basis.They are not going to give you 4 years of education costs up front.If you filled out a FAFSA the government will tell you what your expected family contribution is and then give you an estimated amount of federal aid.Then your schools gives you a financial aid package based on those FAFSA results.If the government aid is not enough to cover your expenses then you may need to take out private credit based loans to pay the rest.If your credit score is below a 650 then you may very well need a co-signer.Still a private loan company will only give you 1 academic year's worth of aid and the maximum amount they give is determined by the cost of attendance determined by your school.
Student loans are done on a yearly basis.They are not going to give you 4 years of education costs up front.If you filled out a FAFSA the government will tell you what your expected family contribution is and then give you an estimated amount of federal aid.Then your schools gives you a financial aid package based on those FAFSA results.If the government aid is not enough to cover your expenses then you may need to take out private credit based loans to pay the rest.If your credit score is below a 650 then you may very well need a co-signer.Still a private loan company will only give you 1 academic year's worth of aid and the maximum amount they give is determined by the cost of attendance determined by your school.