Sallie Mae loan without high tax return, pls advise!

Hi I am at the last step of uploading my business tax return proof for my Sallie Mae student loan application. My credit score is 805.

I run an airbnb short-term rental business, which you might know we claim lots of tax deductions for the house repairs and property depreciations. So my low tax return won’t reflect my actual income.

I already uploaded my recent tax return and wait for rejection in 3-5 business days. Should I add a cosigner immediately now or should I wait for the rejection which will come after 3-5days?

My cosigner has good W2 income but he has a credit score below 700. Thanks.

If you don’t have the income why wait?


My cosigner credit score below 700. Though He has high w2 income.

Then sooner is definitely better. This way you’ll know if you need to find another.


Not to judge a book by the cover, low credit score, high W2 income, bad spender? neglected credit payments? I’d be curious to find out the interest rate that they would give given the credit history and income. Even in the airlines and with the outstanding debt from paying off some of my ATP loan, I went from a 12.5% to 7.5%… that’s with a consistent income at the rate of airline pilots today.


Hi i don’t have another cosigner. He is the only one, if my cosigner rejected I won’t get the student loan. I am still waiting for sallie mae reply to my loan application result without cosigner.

I have some business credit cards and personal credit cards with total credit limits over $100k. But I don’t have exit strategy now if I use my credit cards how do I pay them off with high credit card interest rate?


The credit card route is not only not an option but not advised. You’d be drowning in high interest payments for years. It’s either getting approved for the loan or waiting and saving. You could pay as you go at a mom and pop school but that’s slow and can be expensive when you’re needing proficiency flights while trying to scrape up money for the next rating.



I would advise you to speak to a licensed Financial Advisor regarding any credit, money, or loan questions. While we have gone through the process of financing and paying our payments, we are not licensed advisors. An advisor would be able to answer the questions you have about loans and credit. Furthermore, ATP does have a Finance Department you could reach out to and inquire if you’re looking at applying to ATP.