Fed Financial - I have bad credit--need student loan of 20,000. Will co-signer help?

I have bad credit--need student loan of 20,000. Will co-signer help?

I am interested in going back to college to finish my degree in the fall and next spring. However, I have bad credit and can not get a loan. The loan needs to be able to pay for outside expenses as well. Thus, I will need to take out 20,000. Will a co-signer (of decent to good credit) mean I get the loan somewhere (either on or offline)? If so, do I get the money all in one lump sum and how quickly does it all come to the person receiving the loan. I also am working full-time of now with an annual income of 30,000.

Public Comments

If the co=signer has good credit you should be able to do it.
As long as the co signer has good credit it will help. How you get the money depends on the loan. Some may give it directly to the person taking out the loan, others will send the money directly to the school to avoid abuse. Depending on what you mean by "outside expense" it may be a personal loan (high interest rate) rather than an educational loan.
Undergrad or Grad? Are you over 18? If this undergraduate study, you don't need a co-signer. The Federal Gov't guarantees educational loans for undergraduate study!!!! The best thing about gov't student loans is that they have low interest loans...and if you are in repayment, you can defer it for a small period of time. I don't think you can be in default on a previous student loan...so if you are in default on a previous loan, you will have a problem! There might be a student contribution, however, if you speak to a financial aid counselor, it is very possible for them to work the numbers...I've done this before. Depending on the year of study, each year of study has its own loan maximum amount. Although I wouldn't recommend maxing your federal student loans becuz you have to pay it back either 6 months of graduating or 6 months of non attendance. Your best bet is to call the university you'd like to attend and speak to someone in the financial aid department...This is your best bet, becuz every student's needs are different. Best of luck to you! Many people have offered their services to help secure a loan...DO NOT TRUST THIS...Go thru the US Dept of Ed & financial aid forms to secure an educational loan...They are government approved...As far as low interest rates are concerned, this is why you secure the loan thru your financial aid...When they disburse your loan it is done thru the university per semester or quarter. What ever is left is given to you as a refund. Sometimes your refund is applied to your next semster or quarter....
oh wow! well, this might be quite tough but doable. First off, let see what you can try: 1.) If you can have your parents be the co-signor to this loan then that will be a great help. Do be responsible to pay them or the loan. 2.) Does your parents have a home to take a 2nd mortgage and you can be the one paying it or sit down with your parents to arrange payments. 3.) Check with your employer/company if they offer educational program. Most big companies, are willing to pay at least half of the tuition fee and if your line of work is also the same as to what your going to school for, ie: if you're working in an Acctg. Dept., hence taking Accounting units will be just perfect. 4.) Before getting an online loan or anything, be wary of their interest rates, terms, etc. You may just end up paying the loan the rest of your life. Be savy in your research. Do a lot of digging, check some grants if there's any that you can get your hands into. Try scholarships if you're good of something... Try, Try, Try... the only thing you'll loose is not to get a loan at all. 5.) And if you cannot get a loan, then getting 1 unit or 3 units per sem is the only way. Yes it will take forever, but you'll never know along the way, if you're really smart, the school might also offer scholarships... Good Luck!
Yes. Go to your bank, it should work with a good co-signer. Good luck !
A co-signer will help to get the loan, but take good care of payments, if not they'll ask your co-signer to pay for you. Good luck !
you need to contact free_loans@yahoo.co.uk