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How do you get a student loan without a co-signer?

Jennifer Patterson

in Student Loans

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Jodi Brooks on February 22, 2018

Federal loans such as the Stafford loan) are not based on your credit history. You do not need a co-signer, or good credit. With private loans there is no way around needing a good credit history. Here is more information and advice: . If you are in foster care, talk with people. There is a program which provides tuition, room and board money to children who were in foster care until I went to college. . The answer above suggests Stafford loans as a solution. The problem with Federal Government loans like Stafford are that the student with no credit history is not able to finance their tuition with a Stafford loan. Stafford has very low limits (like 2,650.00 in the first year). As a parent it was my expectation that my daughter would just get student loans on her own to pay for your own college without involving her parents. We can not afford to pay her tuition and have never started a college fund as we could not afford it. And now our income is better but we can't afford to pay it without changing our lifestyle. Anyway, I decided to help my daughter by applying for a PLUS Parent loan but was rejected due to bad credit. I told her that she can get from the Fed. Stafford funds up to $4,000. That helps, but it really needs the full amount of the tuition and room/board. In this case you will need a total of $10,000 per year. Stafford shit.. that should not limit the amount that may be borrowed. The student should be able to borrow the whole tuition amount without help from parents. . Their sad situation; my parents lost their jobs and I have been working free-lance on and off so I do not have a steady income or credit thus still dependent on my parents a little. My parents makes 45,000 per year combined so I filled out a form stating based on my condition, I am not able to afford any other loans other than the Government Stafford loan. I only receive a limit and was not able to receive more because they said my parents income was kind of high, even though they are not working. Come on now such hypocrisy; I filled out a special circumstances, but that could take 2 months, by that time school essentials would have to be fulfilled in a couple of weeks before starting school. Only a miracle is needed, and none is presented. I did couple scholarships but when they are issued, would be in the medium term, so I guess what other opinions are there? Parent Plus and Signature Loan I cannot get that completed cause for one my parents have their own loans to pay, they have no source of income at this time, and, finally, your credit is not so great. I explained this to my school but they say I have to fill in a form, which apparently is going to take forever to be reviewed. Being a student, so I have to say that being a young American and the seed for the future of this country, my options are limited, I'm not saying the government should sponsor every child in its boundaries, but that you can't get an alternative loan should able to get the Stafford loan at its maximum, since any form because we are still going to have to pay the government money we borrowed with interest. . FAFSA, is a very good thing to look into. www.fafsa.ed.gov . As long as you have a co-signer that makes above $19,000/year the question is more based on the student's credit history than anything else. If the child is a ward of the state, then there are other options available, and the majority of schools have financial aid people that will assist you. Any person who makes over $19k a year can cosign a loan UP to THE COST OF ATTENDANCE FOR THAT YEAR, LESS ANY OTHER FINANCIAL AID. The parents of credit is important, but not as much. The co-sign part is just so the lending institution knows they can go to the father if the student does not pay the loan. . It is impossible to get a student loan without a co-signer even if the co-signer makes over $ 19,000 as another person as suggested. I was the victim of a scam and my credit card is ruined. My Dad has excellent credit but no one will approve a student loan with him as a co-signer because he's only been in your current job for 6 months. My fiance has ok credit and makes almost $40,000 and that was not going to accept you as a co-signer. I have applied to every bank and loan company that I can find on the internet. I even started calling to find out their minimum credit scores to see if it would even be worth it to apply. I have the same response every time "we cannot give that information". They all just wanted me to apply and "see" if I will be approved. I told them that I know of does not approve me, because I've applied to all of them before. (I was able to get some of the negatives from my credit report and increase the score of 610, but no one will tell me if that is high enough and all want to run my credit card again! That will show as an inquiry and cause it to go down even more!!) . Federal banks that offer loans without collateral. . Check out facts and figures about the no cosigner signature loans. Try for this loans when all the options are closed. . You can have various federal loan grants and also various private student loans lenders in the market. (MORE)


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