Private College Student Loan

How many people are approved for sallie mae student loans?

Odds are my father would be the co-signer, he is not rich, but does have a stable job. He doesn't own a home, and his credit isn't great. I would need a good amount of money. Are majority of applicants approved for student loans?

Public Comments

1. Federal loans should always be taken out first. Federal loan interest rates are half what private loans are and you'll not need a cosigner and you won't have to pass a credit check. A private student loan will only be approved if Dad has good credit, a stable, long term high paying job. Or at least high enough to afford the payments when you do not make them. If he doesn't have all of these, you will not get approved for the loan. Be aware if you are going to a university he will need to cosign for you for all four years of your college education. If his income isn't that high, he might be approved for the first year, but as he borrows more and more, the chances of him being approved in your last years isn't so great. That would kinda suck going one year then having to drop out because your loan was denied. Then there you are with tons of debt, no way to pay for it and no way to continue your education.