I was supposed to graduate this December but I couldn't get financial aid to finish up. I looked into private loans, but I couldnt ge those either because I needed a cosigner. My mom couldnt do it because she cosigned for 2 vehicles for my oldest brother, and he stopped making payments and they were repo-ed. Well my brother died in September . I had to take off days which made me way behind in bills, which my attempts on saving so I can pay for school myself was out the drain. Once you're behind it's hard to catch up, and I never knew what struggle was till these last few months. And I've been trying to find a second job but not having any luck with that. Anywho Being that she was the co-signer, is/will/can that be erased from her credit or does she have to wait out the 7 year rule or whatever it is? I asked her and she didn't know either. Shes still grieving (well we all are) so I don't want to upset her in any way even though I'm frustrated, and she knows it but she does understand that I need to finish school. Help and advice is greatly appreciated.
Look into a university installment loan. Pay it as you go, just keep a tight budget. As for Credit, I think that sticks with you for a while. And I wouldn't do private loans, try scholarships.
+ Que En Paz Descanse su hermano, Eve. Hopefully someone with financing or credit card knowledge will chime in, but... maybe you might have to sacrifice a bit of time because of recent events in your lives... and take maybe one or two classes only until y'all recover...? Perhaps live at home for a semester or two and take an online class if possible? There could be many alternatives. It's tough to figure out... I don't know your entire situation. Maybe you can express the situation to the loan officers for the banks ? I do have one piece of advice, though: Don't leave school. Keep getting that education even if it's a little at a time. Keep your head up. Support your mom emotionally or however she needs it. No negative stuff, no fighting.
Being a co-signer is serious business. By doing so, you are telling the creditor that you will make the payments in case the other party fails to do so. So when your brother failed to make the payments, both is and your mother's credit are affected. The repo will stay on their credit reports for 7 years, starting at the date of first delinquency. For example...if they stopped making payments in November 2012, it will it be removed from the credit report around November 2019. As time passes, it will lessen the affect of credit scores but it will still be there for any company who runs a credit check during those 7 years. Only way to get it deleted, is to settle the debt with the company that owns the debt, and have them delete the tradeline from the credit reports.
Even upon death of the primary signer the cosigner still has to wait the 7 years so that I'm understanding this correct. Howdy This As far as tight budget I work at walmart stock up on tuna :grin: They pay barely above minimum wage. I was doing home health care along with walmart for this lady I know, but she said she wasn't going to need me anymore for a while. I was told by this lady when I went washing the other day about a home health care place in the area that was hiring so I'm looking into that. I couldn't get any form of aid from the school that is. They told me I had too many attempted hours I had to appeal which they denied and I made all A's and B's this whole last year or so and that really upset me. I've missed a few semesters and had a few bad semesters but made up for the bad grades big time. When I asked them they didn't give me a valid reason on why they did other than they go by a percentage of completion which is 75 percent. I had my advisor do a degree audit and everything to show the hand full of classes I had left. I'm a senior biology major chemistry minor I'm pretty sure I'm above 75 percent complete, being that and I only have 20 hours left. I was going to take 8 in the summer and my last 12 this fall. As far as doing a school payment plan, they want you to have 33 percent or something like that paid before school starts. Unless I find something else before then, that'll be impossible. As far as moving back home, not gonna happen. Seriously. The car I drive wouldn't be able to handle the 2 hour commute daily. It's 19 years old and barely making it now. If it wasn't for that and my location is convenient for work and school I would. I've actually thought about moving a few times to cypress, but I can't afford it. It's been really frustrating especially knowing I should have graduated already and but as long as I finish that's all that matters. Right ...sheesh... I'm about to be 26 next month and I feel old and unaccomplished (I know that's not the case but that's how I feel right now) especially being in classes with kids not old enough to buy alcohol.
I would recommend going in and speaking to a financial aid adviser about the issues you are having. Also explain how you have made A's and B's for the past year because that should have been enough for a Satifactory Academic Progress Appeal based on completion percentage - that should be exactly what they are looking for as progress. I can't tell by your post if she doesn't want to or can't because of damaged credit, if that is the case, she can apply for a Parent Plus loan, (for parents with adverse credit history) Parent borrowers: This loan is designed for parents of the student. Parent of the student is classified as the mother/step-mother, or father/step-father. Any other family members may not apply for this type of loan to assist with tuition and fees. Must be a U. S. citizen or eligible non-citizen Not in default on a federal student loan Not owing a refund on a federal education grant Must have an adverse credit history Son or Daughter must be enrolled in at least 6 semester hours Complete master promissory note at https://studentloans.gov http://studentaid.ed.gov/types/loans/plus Also search through College For All Texans Financial Aid page to see if you are eligible for any programs the state offers that weren't available or not in the packaging plan when you were awarded at PVAMU. PVAMU scholarships and grants page: http://pvamu.edu/pages/2133.asp Information on paying your fee bill with their Installment plan: http://www.pvamu.edu/pages/3527.asp Also, it is important to contact your department for available departmental scholarships that they administer. Most financial aid departments don't have those in their packaging plans and award them by memos received from various colleges/departments around campus - you have to contact and apply with them.
I know about all that. Not eligible for the scholarships a few GPA points off. Cant get the parent plus. Tried already. I talked with my advisor and he said all decisions were final (supposedly) and pretty much kicked me out. On my next off day I'm going up there again to talk to another adviser and setting up an appointment with the president because it's ridiculous to deny aid to a graduating senior. I stated in my appeal what my grades were and they had a copy of that. I had to fill out a degree plan with your grades on it and turn that in as well, and that's when I had my academic adviser do a degree audit.
