Denied for Student Loan

[willbeaRN]

I've been accepted into a post-bacc BSN program. Its a private college so federal loans are not enough.

I've applied to private loans and its been denied with my current co-signer(my parents have poor credit). Unfortunately I dont have anyone else to ask to be my cosigner.

Has anyone been to obtain a private student loan without a co-signer?

I really dont want this to be the road-block that prevents me from becoming an RN

Thank you

[Rose_Queen, BSN, MSN, RN]

Have you considered other options rather than trying to continue to take out private loans that are going to be higher interest rates? What about other schools, even if it's more of a traditional program or even not a BSN? You may view this as a roadblock, but there are multiple ways around it other than to pay for an expensive private school with high interest rate private loans even if it means delaying a bit while you save money.

[littlepeopleRNICU]

How old are you? Do you HAVE to have a co-signer? I haven't taken out private loans. All of the student financial aid I've had has come in the form of federal loans, grants, and scholarships. Have you applied for any scholarships?

If you must have a co-signer and can't take a loan out yourself, I would apply to different schools. There are plenty of public programs that are great. And apply for scholarships, no matter where you end up going.

[NurseGirl525, ASN, RN]

I would find a cheaper school. Why do you need to go to an expensive private college that you can't afford right now? Many state schools are affordable and are just as good. Otherwise work for a few years and save some money.

[willbeaRN]

Thank you for your responses. Yes, according to the private loan company, a co-signer is required. I am 27.

I've applied to state schools and this private school is the only program I was accepted into.

I'm applying to scholarships but I can't depending on being awarded one.

I see graduating a year earlier than a traditional school as similar to taking out loans in terms of opportunity cost but trust me, if I were accepted to an accelerated state school, I'd attend in a heartbeat.

[caliotter3]

Either the school's financial aid office will have to come up with a better package for you, or you are going to have to work while going to school, or work before starting school. Unless you can find a co-signer. Most people have a hard time finding others who will be willing to co-sign loans, even relatives say no.

[johsonmichelle]

Thank you for your responses. Yes, according to the private loan company, a co-signer is required. I am 27.

I've applied to state schools and this private school is the only program I was accepted into.

I'm applying to scholarships but I can't depending on being awarded one.

I see graduating a year earlier than a traditional school as similar to taking out loans in terms of opportunity cost but trust me, if I were accepted to an accelerated state school, I'd attend in a heartbeat.

I understand that you want to finish school in a timely manner but you must do so in a reasonable manner. I'm sure you don't want to end up like your parents with bad credit. Please look for cheaper options , is the school even accredited ? Examine why you are not being accepted in traditional nursing school ,if you can make adjustments then you can reapply again.