<prompt> Human: Hey everybody! I am transferring to NYU in a few weeks, Im down to the wire trying to figure out how I am going to pay for this. After federal aid, work study and scholarship money I have an outstanding balance of 9,380 that I need to pay before I can register for classes. I have a good credit score, relatively low income which is going to get lower moving to the city and a cosigner that volunteered but she doesnt have an extensive credit history. I am applying for a 15,000 loan in order to cover my bill and help me in my move to NYC. So I have a few questions:1 Does listing a cosigner that essentially has the same credit as I do help at all? What would the interest difference really be if I included her or didnt include her in my application for a loan?2 Wells Fargo offered me a fixed interest rate of 11 and a variable interest rate of 8. Which is scarier? 3 Does anyone have a better approach to getting aid for school? I am applying for more scholarship money but I need to finish my first semester first. Thanks!  <response>: Hi OP,I caution you to consider the very real possibility that you wont get enough scholarships to pay for this school, and that you need to select another school that costs less. Its disappointing to say the least, but its better to know now rather than later. Subsequent semesters are going to have the same problems you have now, and the high cost of living in NYC does not help.What happens when you are midway through attending school, the tuition bill is due, and you are short?1 The school will prevent you from registering from classes until the bill is paid2 the bill is still due at the appointed date3 they will hold your transcript so you cant transfer classes til you pay in full4 youre liable to pay all of your accumulated loans with no degree in hand.For your specific questions,1 It may help, but not much. Im guessing you are a young person, recently graduated in the last few years. Even if your score that you look up online is good, a young person with a college degree and years of fulltime employment, you are a big liability to any private lender. Thats why the lender asks for a cosigner. 2 young, low income prospective borrowers still arent particularly appealing to cosigners. They are looking for a cosigner that has more assets, IE, parents that have high earning jobs and good credit.2 The variable rate is just that--variable, and tied to the market. The bad thing is that when it comes to repayment, you have to be ready to accomodate the possibility of having unexpectedly higher payments or lower payments than when you started.3 It sounds like you are a good student since you are getting some scholarship money, and its great that you have federal loans and work study. My sincere suggestion is to NOT go to NYU. There are many stories on this subreddit, and across the USA, of students who simply cant make ends meet any more, and are forced to drop out. Then they have to pay all their loans AND have no degree to show for it. You may find that another school is more affordable. 