My daughter is going into her second semester of her freshman year at college. After the federal loan, grant and state grant, we still owe $5,000. The school says she's maxed out on federal aid so her only option is a private loan. Problem is she keeps getting denied. Even if I cosign ( I have terrible credit.) Im a single mother with two girls, I don't have anyone else to cosign for her. I explained to the school the situation and they said there's nothing they can do.
It's very tough to get a private student loan with no/bad credit, but it's possible. Look at this article: https://thecollegeinvestor.com/16435/how-to-get-a-private-student-loan-with-no-cosigner/
Second, $5,000 is not much money. Can you setup a payment plan with the school and see about your daughter working? You can earn that during the semester.