Question: My daughter just graduated from high school and needs a loan for college. My husband and I have horrible credit and cannot get a loan. Can she get one?

Assuming that your daughter can't find an adult co-signer with good credit (grandparent, aunt, uncle, etc.), she should talk to a financial aid officer at the college she will attend and explain her situation. (If she's reluctant, assure her that financial aid staff members are used to dealing with families in all sorts of predicaments, so she should feel comfortable explaining her own.) She will probably be told that you and your husband will have to apply for a PLUS loan. Then, when you are turned down for the loan (which sounds likely, based on what you've just said about your credit), your daughter can get a Federal Stafford loan .

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