zookeeper Posted April 7, 2017 Share Posted April 7, 2017 Does anyone know of a private lender that will lend beyond the cost of attendance? I have maxed out my fed loans and am running about $5,000 short d/t extra expenses with rotations, kids and car repairs. I have checked into many like Sallie Mae, Discover, Wells fargo, etc...but they won't lend above COA. I have tried to apply for credit cards...but there is no possible way to work and have income during my rotations. Any suggestions would be greatly appreciated!! Thanks in advance! Link to comment Share on other sites More sharing options...
south Posted April 7, 2017 Share Posted April 7, 2017 Wait, so you maxed out your federal loans? That's a fair chunk of change, expenses plus $10,000 per semester. Unless there's something I'm missing Link to comment Share on other sites More sharing options...
zookeeper Posted April 8, 2017 Author Share Posted April 8, 2017 Sorry--I have maxed out my cost of attendance. I qualified and received an HRSA-SDS scholarship, but the school added the awarded amount to my account which now disqualifies me from borrowing any more money. The scholarship + unsubsidized + Grad plus caused me to reach my COA. I have had many discussions with my financial aid office, and they said there is really nothing on their end they can do to help--except possibly obtaining an emergency loan for half the amount I need which ultimately comes from my summer financial aid distribution in June. Link to comment Share on other sites More sharing options...
MT2PA Posted April 8, 2017 Share Posted April 8, 2017 You're likely out of luck short of finding a lender that will do a personal loan (which is essentially what you're looking for since technically you are receiving enough for a school loan). Link to comment Share on other sites More sharing options...
MusicalPA Posted April 8, 2017 Share Posted April 8, 2017 Maybe your only recourse in the short term is to get a regular private loan. Maybe you could have a family member co-sign for it? My COA was way too low to be able to get through school with my wife(stays home) and 4 kids. COA is always based and assumed that you are single and will have some roommates. We were able to show credit card/bank statements and our excel speadsheet budget to show the need for an adjustment in COA. We max out unsub stafford, they gave us what "they felt comfortable" giving for grad plus, which was above the max they originally had on the award letter. The remainder we got a private student loan. I don't see why your financial aid dept can't/won't adjust your COA if you can prove the money you need monthly. I honestly would fight to get your COA adjusted if you can prove to them that you need the extra money. Maybe they can't change amounts mid semester, but surely they could for the summer semester and going forward if you still have school left to do. Link to comment Share on other sites More sharing options...
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