Hi, my daughter has just begun her first college year in our local community college. She did not get any grants, so we applied for student loans with us as co-signers. That was denied because according to the answer, I make too much yearly to qualify. Believe me, that is laughable. They said the max is $50k, and I make a hair more, and can barely make ends meet with my bills. So, I don't have enough money to pay for college for her, and I make "too much" for assistance.
2 Years ago the economy tanked, and I was laid off. The time in between jobs was tough on us, and all the late payments ruined my credit. She is in school now because before 2 years ago, I had been making much more annually and was able to put money into a college fund. We have now depleted that savings, don't have the credit for a loan, and she can't get a loan or assistance. Need advice on what to do.
I hate to sound negative, but its like I'm better off being an unemployed and non working person for my kids to get the help they need. We would then qualify for help.
Sad state we are in.