Finding a student
loan without a cosigner these days is getting harder and harder. Banking
institutions are more picky than ever about the kind of people they are willing
to lend money to, and really- who can blame them? This has been a rough few
years for the financial industry, and they have to protect themselves now. The
problem comes when they start protecting themselves from people like you-
students who need money to reach their education and career goals, and who have
no real income because of their place in the educational journey.
The process of
getting a student loan is made easier if you have a co-signer to help you, but
not every student has access to a reliable family member or friend with a
credit score high enough to be a cosigner. If a parent has bad credit score can
not get college loan. Other students have eligible people available, but do not
want to risk embarrassment or awkwardness by admitting a need for help. Other
students just don't have the kind of relationship with plausible cosigners to
ask them for that kind of help.
If you are a
student in any of these situations, then do not give up hope yet. There are
still options out there for students with no cosigner. Finding a student loan
without a cosigner is possible. This article will give you a few tips you can
follow and a few links you can check out to help you find a student loan
without a cosigner.
1. The FAFSA
Chances are this is
not the first time you have heard FAFSA mentioned. The FAFSA, or the Free
Application For Student Aid can be a really huge resource and help for students
like you looking for a student loan without a cosigner. The FAFSA takes a while
to fill out, which is why many students want to skip this step, but that would
be a mistake. The FAFSA can tell you what grants and scholarships are available
to students in your particular situation. It can also open up new student loan
opportunities- many of them being college loans that do not need cosigners.
The FAFSA can also
give you important information about all the different financial aid options
that are available to you like is a student loan an installment on credit, or
how many credits do I need to get financial aid?
The other great
thing about filling out your FAFSA is not only that it is free, but that there
are more than likely people hired at your school to specialize in this
document. Many colleges have student aid facilities where people are paid to
help students just like you fill out the FAFSA properly and get the financial
aid they need to be successful. Find these individuals and take advantage of
the wonderful gift your college has made available for you. Filling out the FAFSA
is a great step towards finding a student loan without a cosigner.
2. Government Loans
There are a number
of government loans available right now. Many students pass over these loan
options because they do not give out very much at a time. The truth is, no
government funded loan will give you all the money you need for a semester
unless you also have some kind of scholarship. However, even if $2,000 from a
Perkins loan won't pay all your bills, it is $2,000 more than you would have
had without the Perkins loan, and that is no small drop in the bucket. Plus-
they are all offered without cosigners. Here are some of the government loans
we think you should look into:
Subsidized Stafford
Loan: This is the best government loan out there for students. It is a student
loan without a cosigner. It is a student loan without a credit check. It is a
student loan without hefty interest payments because it has been subsidized.
Apply for a Stafford Loan, and you will almost certainly qualify for a student
loan without a cosigner.
Unsubsidized
Stafford Loan: This is the same as the previous no cosigner student loan except
that the interest is not subsidized, so you will pay out more over the life of
the loan than the subsidized loan.
Perkins Loan: These
loans are great and easy to apply for, but are not as popular as they have a
cap on the amount they can give both per year, and overall. They are a no
credit check student loan and a student loan without cosigner- so definitely
something to look into.
In the end- all of
these loans can get you what you need without a student loan cosigner and
student loan no credit checks Canada or US, but all of these loan options can
give you more money if you have a co-signer. If you have simply been afraid to
ask someone to take a risk on you, then you will want to have them look into
these loans as they are much less risky and the interest rates are much lower
than the student loans you will find at a bank.
Look For Local
Boosters
If you are going to
college, then you are most likely living in a college town. Here is a little
secret about college towns- they NEED college students! They love you. Local
businesses thrive off of you. Local housing owners survive by you. The
population of the town you live in might complain heavily about all the noisy
college goers- but they need you, and this makes for a lot of local boosters
and scholarship opportunities. Look around for local opportunities to get
supported through school. The average student with poor credit needs $7,000
loan per semester to get through school. Many need more, depending on the
school, area, and situation of the student. A good way to get a head start on
that $7,000 is to get help from the local businesses that need your presence to
survive.
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