Private College Student Loan

Federal Direct Parent Loan Approval?

Background: I plan to be a freshman at the University of Washington. I'm an out-of-state student from Illinois. I received the following financial aid: Federal Pell Grant $4731 Federal Supplemental Grant $4000 Federal Perkins Student Loan $3000 Federal Work Study Program $3300 Federal Direct Sub Stafford Loan $3500 Federal Direct Parent Loan $17,265 My father and I are very concerned about the Federal Direct Parent Loan. When I graduate from the university, my father will be in his 60s, retiring. His credit score is not very good as a result of various financial issues relating to illnesses, divorce and family issues. Will the Federal Direct Parent Loan be denied? It seems very unfair to me, seeing that the University of Washington offered it to me. Throughout my college search process in high school we were told that the financial aid packages from universities were worry-free. Please advise me, I'm rather upset :(

Public Comments

1. Wow u are going to be in debt up to ur eyeballs! HAHAHAHAHAHAHAHA Seriously though dont graduate with more than 50k in debt or u will be bankrupt in a few years!
2. I'm sorry. I know how hard and annoying financial aid is! I am pretty sure that if it has been awarded, then it won't be denied. Good luck, I hope everything works out.
3. I think that they will give you the loan, but seriously, is your father going to be able to pay this back or will he end up losing the home or something? Your father can take the loan but also needs to be able to repay it when the time comes. you are going to be in some major debt by the time you finish school, you are looking at nearly 24,000 for the first year alone!!!! I hope you plan to come out of school with a degree that will enable you to make some very serious money, cause that kind of debt will bury you if you dont have a good handle on it