My son needs a loan for college. Unfortunately I don’t have the kind of credit needed to co-sign. help?
what else could he do we are all we have and he just wants to go to college he needs a copy of his transcript from famu but because we owe them $2000 they won’t transfer his transcripts to TCC.
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How old is the debt to the other school? He may be able to borrow an alternative loan to cover it if it is less than 3 years old, although it is more preferable to see if he can reach a payment arrangement with that school and take a semester off to work and pay it down. The first school does have the right to withhold academic transcripts for students who have outstanding charges. While he may need a co-signer, there are lenders who may allow him to borrow on his own, but he needs to seriously consider how the debt will affect him and his plans, because he may not be able to defer payment on this loan. As I say, it may be preferable for him to take a job and pay the debt down first before considering transferring to a new school with accrued debt.
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If parents are lacking a high enough credit score then students can get additional aid via state and federal sources. It’s called the parents-plus loan I believe. Which means parents can take out a loan to help the kids, and if they can’t because of credit then the student can take out the additional loan.
As for your transcripts…well..pay the money because without the transcripts from a previous school the current one might not let him in. And the longer you wait the more interest builds up.
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