To get the best rate on a private loan, a parent will likely need to co-sign for the loan since students generally have very thin or nonexistent credit histories. Although it's not necessary, Sallie Mae says 90 percent of the loans originated last year ... Private Student Loans 101: How The Terms Differ
Student loans are wonderful things when you are in college. They help your dream come alive for your chosen career. There are several options when it comes to student loans though, and it is important that you know about them. Student loans with no co- signer are rare. Most private institutions will not award a student loan to anyone who does not have a co- signer. This is due to the risk the student poses regarding repayment.
Most students are just starting out in their education process. They typically do not have a job in the first year of college. They also tend to work part time during college in the following years rather than full time, since they are attending classes full time. Since these students are beginning their adult life they also do not have much of a credit history. It is this lack of credit history and paying off loans which concerns the banks.
They do not know whether you will pay the money back once you graduate or not. They are going on faith. The risk in this situation for the bank tends to look too high, without a co- signer to back up the student.This is why the student loans with no co- signer are rare. They do exist though. In a situation with a private lender the only way to get a student loan with no co- signer is to have a solid credit history. If you already had a car loan that you paid off or a mortgage you will discover the lender is more willing to lend money without a co- signer as long as your credit scores are in good to excellent condition. Graduates going on to masters programs can usually find student loans with no co- signer. They tend to have more of a credit history. This is not always the case.
Your other option when it comes to student loans with no co- signer is the federal government.
The federal government offers the Stafford Loan. They do not award the loan based on your credit history. Instead they look at the institution you will be attending, your degree program, housing needs, and whether your parents are able to contribute to your education. They will then decide how much to award you. If you are independent on your taxes from your parents you are able to get the loan without a co- signer through the Stafford Loan process. Related Student Loans - No Cosigner Needed ArticlesQuestion by Robert: What are bad credit student loan no cosigner ? is this helpful to to getting loans if people is bad credit his? what are bad credit student loan no cosigner ? is this helpful to to getting loans if people is bad credit history or poor credit history? Best answer for What are bad credit student loan no cosigner ? is this helpful to to getting loans if people is bad credit his?:
Answer by Richard
Capital One and Orchard Bank both have credit cards for people with poor credit. Orchard even has secured credit cards (you give them money as collateral for a credit card). Be careful if you use these, their way to make money is to wait for you to mess up and charge you fees. If you're careful they're a good credit revival tool. That and time, lots of time (7 years will fix almost anything)
Answer by Mary
College and university financial aid personnel can direct you to sources for money. (If English is your primary language, please spend some on some classes in English grammar and composition!)
Answer by ROBERT
I can barely read your question but think I know what you are asking. If you are talking about references then: The people you list as references are a a sign of your character and certainly I would expect my references to be checked out to show my character.
Answer by Rudy
A co-signer is a second person who guarantees to pay off the loan and commonly starts to become involved when the primary borrower does not have any or a poor credit history, students most often have few or no credit cards, no vehicle loans and very rarely a house mortgage loan, as a consequence he or she have little or no credit history and as is the circumstance with a range of us in our youth, they could possibly have made a few unwise choices, he or she could have gone over and above what they could possibly pay back on a credit card and even been irresponsible about commencing repayments. If you are looking for the best and fastest loan website, check out this site http://Best-Fast-Loan-USA.info Here you can get the best rates available for you just in one hour
