Here are a few reasons why your private student loan application might have been rejected: 1. You exceeded your school’s COA. Due to federal regulations, you can only borrow up to 100% of your school’s COA. Double-check how much you need to cover with student loans and try resubmitting your application for a lower amount. 2. You have no one to cosign. If you haven’t had time to build up your credit history — or don’t have a steady source of income, you’ll have a hard time qualifying for a student loan without a creditworthy cosigner. 3. You made mistakes on your application. If you entered anything incorrectly on your application, ask if you can resubmit it with the correct details.