Best source for college loan (not FAFSA qualified)?

2014-11-14T14:23:34-05:00

Can anyone recommend somewhere to get a loan for college? My parents income disqualifies me from any financial aid from my college or the FAFSFA. I need a private loan but as a college student I don't have much collateral or good credit.

Response by SGM Private RallyPoint Member made Nov 14 at 2014 2:48 PM

2014-11-14T14:48:26-05:00

Try other types of colleges for grants/scholarships, such as Excelsior.

Response by LTC Yinon Weiss made Nov 15 at 2014 10:19 AM

2014-11-15T10:19:16-05:00

SPC Fagan, as a member of the National Guard, you may (and should) claim yourself independent of your parents on the FAFSA form. This means that your parents income should not count against you, and you should qualify for the traditional government loans, should you choose to pursue them. This may mean that your parents need to stop claiming you as a dependent for their own tax purposes as well, but they can do that anytime.

Here is the link to learn more about dependency status:

https://studentaid.ed.gov/fafsa/filling-out/dependency#dependent-or-independent

Dependency Status | Federal Student Aid

Dependency status determines whose information you report on the FAFSA. If you’re a dependent student, you'll report your and your parents’ information.

Response by CPT Aaron Kletzing made Nov 15 at 2014 11:47 AM

2014-11-15T11:47:38-05:00

PO3 John Aldrich may have additional insights/advice on this issue for you, SGT(P) Private RallyPoint Member. I tagged him here. He has written some helpful pieces related to education for RallyPoint, and seems like he knows a lot about the space.