Colorado Technical University

Career training loans, bad credit, cosigners, sahms...Help?

I am a stay-at-home mom wanting to go to school as a Medical Assistant. The school recommends a career training loan through Sallie Mae. It's a fairly small loan, just $2,400. The school told me, for this program, I cannot get regular financial assistance, like applying for FAFSA. Since I don't have a job, my first obvious choice for a cosigner would be my husband, but I'm not completely sure that we would qualify for the loan considering our financial background. My second choice would be my parents, who live on the other side of the country (though I'd prefer to do this without them). Would I be able to apply with my husband first, then if I don't qualify, apply again with my parents? What would be the best approach for my situation? I have already contacted Sallie Mae but cannot get a real person to speak with. I have also contacted the school, but they can't give me any definite answers. Thanks for your help!

Public Comments

1. welcome to my world! I'm going through the exact same thing. sallie mae wants a cosigner from me too, since I have a debt consolidation thing going and can't get ANY credit until I'm finally paid off (just over a year to go!)... My husband's credit is not bad, but our income (we both work full time) vs. bills really stinks, so it looks bad on paper. I'm trying to get a loan for about 1500. I googled career training loans and have a couple I am working on, but I haven't heard back. I'll sure let you know (you can contact me at fordtrckcowgrl@yahoo.com) if I get one to go through! PLEASE let me know if you find one in the mean time! the school I want to go to offers a extended payment plan too, not sure if yours does, where they basically finance you and let you pay by the month. but I was hoping for smaller payments so I am still looking. good luck!