Ask Terry Questions Student Loan for Son with no credit nor cosigner

Student Loan for Son with no credit nor cosigner

By Terry Savage on June 22, 2023 | College Savings / Student Loans

My son graduated this year and has gotten like 15000 in scholarships, grants ect for college, but he still needs 16000 a year which the financial advisors at the college he is enrolling told him he could get loans for this. I do not have good credit and could not save due to being a single mother of three boys. He has applied for loans and keeps getting denied… How or is it even possible for him to get a loan if he has no credit and no cosigner… I feel horrible for him as he wants to go so bad and got his hopes up and now is getting discouraged.

Terry Says

Did your family file the FAFSA form and request Federal student loans — in addition to the scholarships and grants? That’s really the first step in funding college, and your question doesn’t make it clear as to whether he has applied. Learn more at

If he has already done that, he should go to the admissions office or the financial advisors at the college and explain that he cannot get more money for college, and ask if the have a work/study program where they could offer where he could offset some of the costs.

And I assume he has been to to see if he can find more “free money.”

He will not get a different kind of loan (other than a Federal student loan) without you as a co-signer. And you should NOT do this, even for a ParentPlus loan, since you have two other children to worry about.

If the school will not make up the difference then he will learn a painful lesson about the need to plan and save. He will have to live at home and go to a community college, at least for a couple of years. (Making sure that the credits he takes will transfer.) You can be sure it will make him a better person in life.

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