Personal Financial Inquiries for Anyone with Knowledge/Exper

[Collective Foal]

I'm sure this topic can be continued for anyone who isn't sure how money and money people and money corporations work.

 

My specific question pertains to Private Student Loans. My father, being the grump he is, does not trust me to succeed in school if I am to enroll. So, he doesn't want to be my cosigner for any student loans. Now, I'm obviously going to need a,cosigner, but I'm wondering if there's a way out here.

 

Is there any way for me to, after completing school, assume the,lone from my father to make it my loan and only my loan so that he isn't legally required to pay it off should I miss payments? For example, if I get a credit card and develop a good credit report, would a bank allow me to take out a loan to pay off the private loan and then I would be the sole "owner" of the loan? Or is there a way for me to sign off so that I am responsible for,the initial loan?

 

Any help would be greatly appreciated. Also, if this is the wrong forum, sorry Alyxx

[Vapymid]

In the UK there is a government-guaranteed scheme where a student takes out a loan and then repays it in the future if his salary exceeds a certain threshold level (and if it doesn't - the loan is being written off after some long period of time).

 

But you are not in the UK, are you?

 

Regards

[Nex]

I think he's in the US. Honestly, I don't know what you should do in that case, because I'm in Canada (ours is government assisted) and have no idea how your system works.

[BTGBullseye]

See if you can get non-loan financial aid... You never have to repay it. As for loans, I personally would never take one. (it goes against my better judgement to pay extortionate amounts of money to a school just so they can sign a paper that says I'm smart)

[Collective Foal]

Well sorry, I need that piece of paper to give myself the best probability possible of making a 6 figure salary so I can move to California with my hopeful wife-to-be and pay for her gender affirming surgery and live happily ever after.

 

My mindset isn't to constantly tell the system that it's stupid and live out my life being oppressed by the system I resent and living just above the poverty line.

 

My goal is to do what the system wants and eventually be in a position to alter the system so it becomes better. I have aspirations.

 

So anyways, I do live in the United States, I do not qualify for financial aid because my parents make too much money, and government-issued student loans only cover up to $30,000 or something like that. Hell even the loans might be need-based.

[BTGBullseye]

For cosigning in the US, as far as I know, there are no lenders that will allow you to remove a cosigner for loans of over $10k until you have a credit rating exceeding 800, and the total amount to be paid back is less than $10k.