Student Loan

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OK, so I have just finished my first semester at (community) college, which I paid for in cash, which I had at the time. Now, however, I do not currently have the money, my dad makes too much to get any aid from FAFSA, and he will not help me in the slighest way pay for it("Now, son, go to school and get good grades and make daddy proud and then I'll f*** you over in the future"=/) Anyways...I am unfamiliar with the process of securing a loan, and I was wondering if anyone could give me any advice as to where I should go and if I would be able to get a student loan without a cosigner. Tuition is relatively cheap so I imagine for a semester I'd only need about $2,000-$2,500. Thanks in advance!

Go to you college financial aid office and explain your situation. I'm sure they'd be able to help you get information on obtaining student loans.

My advice for student loans is not to do it unless you know for a FACT that you will have NO PROBLEMS paying it back quickly after you finish school.

The consumer protection laws have been gutted where student loans are involved, and the system is set up to totally favor the creditor over the debtor.

Don't do it. I was in a similar position back in 2002, my father made "too much" money so I couldn't get aid. Despite paying our taxes and being citizens, the system discriminates against people like us.

To be frank, you most likely won't get a private loan without a co-signer. Really... what can the bank take from you if you don't pay? Exactly. Your dad will end up having to cosign the loan and you'll be lied into the grand luxuries life will provide you with your college degree.

In reality, you'll be forced into a huge loan like I was. You won't understand that the interest rate being charged for this private school loan is astronomical compared to what the government leeches are able to get. You'll feel under pressure that you must go to school and get this degree to prove yourself. You'll buy into the hype.

When you realize you screwed yourself... it will be too late, you'll have to just finish the degree because this private bank owns your life now. The day you quit is the day you owe.

After graduating, you won't be able to afford basic things in life on your entry level pay... but that doesn't stop the bank from hassling you and your father for your loan payments. Remember that nice house your dad has... yeah, pay us the loan or we'll take it.

Ahh..... the life of person who has "everything handed to them"

My advice... don't waste any more of your hard earned cash on this degree. I wish I would have took my cash that I spent on my first two semesters and invested in my own business... in myself... in my ideas. Sure, I could have failed and wasted it, but instead I wasted it on investing in someone else's bullcrap. Now I have two things: a piece of paper stuffed in a closet (I'm that embarrassed that the bank "took" me for a fool), and a huge hole of debt that I probably won't escape.

Go to fin-aid and help them guide you through it. If your dad doesn't claim you on his taxes then you can get money through fasfa, because you won't make enough to qualify. At least file a fasfa because you can probably get something. You get work study jobs through fasfa so I would at least do it for that. I didn't do a fasfa until the end of the year and I got my full tuition reimbursed...moral of the story is always do it. The college should be able to hook you up with student loans that have a low interest rate (something like 1%). And they will tell you if you qualify for any scholarships as well.

You only get that 1% loan if you qualify for aid... which he doesn't. If he's under 24, he's a dependent in FASFA's eyes, regardless of tax status or living situations (unless married).

This is where the system is truly screwed up.

If it is "only" $2,000, could you get a job and pay for it as you go? Many colleges will let you make monthly payments. If you do want to go the loan route, don't get a private loan. The interest rates are ridiculous.

This would be my personal choice if the situation allows it. I would be surprised if tuition is that high (it is less that 1K per semester at my junior college) but maybe you were calculating other expenses such as books.

Unless it's changed in recent years, that should not be true. If you have been living on your own after 18, they cannot factor in your parent's income, but you do have to establish that you've been living on your own (usually means a couple years out of the house and working a full-time job).

It's too easy for someone to just move out of the house and claim they are "independent." Akin to moving to another state then applying for in-state tuition a month later. Most states want proof that you really committed to moving (tax filings, voter registration, drivers license, etc.) and that you've been in the state for over 12 months.

In theory, that wouldn't be too big of a problem, but between food, gas, car insurance, cell phone bill, I already walk away with practically nothing from my paycheck ending up staying in my bank account.

And shawnh, I agree with you and I really am starting to think that way. Practically speaking, I think my number one goal should be to move out of my pop's, I just don't know how to even set that process in motion.

I had been on my own since 18 (still living in the same state) and don't really talk to my father, and was still considered a dependent. I worked basic wages full time and also had some 1099 wages from freelancing. I kept reapplying each year, and of course, kept being denied :/ I was told that sometimes people can get this overridden, but its not likely and I would have to claim something such as abuse (and have court proof) to remove my dependent status.

This will give the OP information on what's needed to be an "independent"... just say yes to any of these questions: fafsa.ed.gov/FOTWWebApp/fotw1011/WorksheetServlet?locale=en_US&wstype=WSDEP

Well, I do know the system can be frustrating to work with. My roommate in college kept having issue with both parent's income being factored in, and his stepmom and his dad had a prenup agreement that meant she didn't take care of him and his dad didn't take care of his stepsisters. This agreement applied to eligibility considerations for financial aid, but I'll be darned if he didn't have to appeal the determinations for aid eligibility every year because some bean counter came to the same routine conclusion rather than look at the history of his file.