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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.

Student Loans Without Cosigner – Background & 3 Programs to Use

August 27, 2011

Student Loans Without  Cosigner

If you have come to this page looking for student loans without cosigner programs, because either you haven’t built up a credit score yet, or your credit score is a little low, don’t worry there are alternatives that will allow you to get a student loans without cosigner! Being that there are two different types of loan groups out there, government loans, and private organizations, that you can get loans through.Tthis article will provide to you 5 different programs that you can use to get student loans without cosigner needed, read on for more information.

Student Loans Without Cosigner

Student Loans Without Cosigner – Overview of the two loan methods

First off, when it comes to federal loans, they could really care less about credit, making it easy to get student loans without cosigner through a government organization a lot less painless than you may have thought. They are geared towards offering aspiring students loans who have little or no credit at all, bad credit, little or no income among others, so as you can tell they cater to people who can’t really provide a cosigner and also have great benefits not having to pay it back until you are fully complete your education, laid back repayment methods, and a low interest rates that are fixed, meaning they won’t change.

Whereas private loans are hard to get student loans without cosigner, have less leinient repayment methods, and are heavily based on what your credit score is, and worst of all you are stuck with the loan if you can’t pay it because delcaring bankruptcy is not an option with a private loan. With this being a said, we will focus on federal loan programs, so be sure to exaust these federal resources first before you try for a private loan. Without further adieu, here are your 5 programs to use when seaching for student loans without cosigner methods.

Student Loans Without Cosigner – 3 Programs to Use

  1. The first program you can use that offers student loans without cosigner needed is The Stafford Loan. This option allows you to get fixed interest rates as low as 3.4 percent, allowing you the freedom to borrow over 20,000 dollars per year to use towards schooling costs depending on how far along you are with your schooling, you don’t have to pay a cent until you have finished you degree, non based credit score acceptance.
  2. Another federal resource you can use when looking for student loans without cosigner needed is a program called The Perkin Loan. This program provides you with the opportunity to get a fixed interest rate at as low as 5 percent, allowing you to borrow up to 27,500 dollars throughout undergraduate studies, and up to 60,000 dollars during your post graduate studies, which includes what you borrowed for undergrad. This program also allows you to get all your financial aid through the school that you are going to directly.

If you are overwhelmed by the word loan, which we don’t blame you at all, take a look at the program called the The Pell Grant program. This is money that you will never have to pay back and can be a great resource to get the funding you need to complete your schooling.

  • The Pell Grant is another resource you can use when trying ot get student loans without cosigner. This program is one of the most widely used program around when it comes to getting free money for college, being that they have over 5 million people currently receiving financial aid. You can receive up to over 5000 dollars per year of schooling.

Student Loans Without Cosigner – Conclusion

The first thing you will want to do is fill out a FAFSA which stands for Free Application of Federal Student Aid. Filling out this program will provide you with all the programs you are eligible with to attain loans through. Great luck on your search for student loans without cosigner, and hopefully this was the exact information you needed!