Bad Credit Student Loans Without Cosigner – How To Get Them

February 18, 2012

Bad Credit Student Loans Without Cosigner

bad credit student loans without a co-signer

If you are looking for bad credit student loans without cosigner needed, chances are that your credit either isn’t established as many young college students experience, or you don’t have good credit which again you are not alone. Good thing is that there are alternatives that you can utilize that will allow you to get student loans with bad credit and no cosigner, which we delve into right below, allowing you to attain the money you need to be able to afford your college education and start working!

Bad Credit Student Loans Without Cosigner Alternatives

1)  The first alternative that is provided for those searching for bad credit student loans with cosigner is to fill out a Free Application for Federal Student Aid (FAFSA), which this is the holy grail when it comes to obtaining federal aid, which offer loans like the Stafford and Perkins loans which base eligibility off of financial need and not your credit score. These federal loans are offered by the US Department of Education which each offer thousands of dollars in lending funds each year you are in school, which it is a must that you fill out the FAFSA each year you are in school and are looking for federal student aid. Not only will filling out a FAFSA qualify you for bad credit student loans with a cosigner, you will also be applying for federal grant programs like the Pell Grant which offers eligible applicants the opportunity to get thousands in grant money which is money that is given and never needed to be paid back.

Applicants can utilize federal student loans throughout their entire college career, all the way through graduate school. This is the most important step in attaining bad credit student loans because federal aid offers much better repayment terms and interest rates compared to the likes of private loans, which federal interest rates are offered in the form of fixed rates meaning they will never go up once you have obtained the loan unlike variable rates with private student loans. Not to mention the fact that they are also eligible for repayment programs like public service loan forgiveness as well as forgiveness through volunteer organizations like the Peace Corps among others. These loans can also be used for other aspects of your college life like books, materials, a computer and more.

2)  Speaking of grants, grant programs are most always based off of financial need, whether they be federal or private so grants in general are another great alternative to use when looking for bad credit student loans without cosigner.

3)  The other alternative is apply for a ba credit student loan without cosigner through a private lender which in turn will result in much higher interest rates and stricter repayment options, but can still serve as a viable option when you have ran out of federal student aid and still need money to cover the rest of your tuition costs. Being that interest rates are much higher with private student loans, a great alternative to this is applying for private student loans with cosigner through a local credit union whom provide the same type of student loans that come from large private student loan lenders but offer better interest rates and better repayment options.

4.) Although this last option doesn’t provide student loans, participating in the Federal Work Study Program at your college can help you earn money when jobs are scarce as your college will provide you with work, which the work usually encompasses employment in th profession that you are studying to go into. This last band credit student loans without cosigner alternative allows you to earn money which all goes towards paying off your student loans and inturn you get vaulable hands on experience in the profession you are looking to go into which can be demanded by your future employer when you are applying for an entry level job out of college.

Category: Student Loans Without A Cosigner

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