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Can a student get a student loan without a cosigner when they have bad credit and no job?

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2009-12-16 21:19:38
2009-12-16 21:19:38

no you do have to have a cosigner with good credit in order to get a student loan.

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Although it is very difficult to get loan without cosigner. Majority of the students don't apply because they don't have any cosigner. But now a day many organization are helping such student who don't have any cosigner. You can apply for such loan that not required cosigner. These loans called no cosigner student loans. You can find a detailed procedure through link that is in "Related Links"


It is possible to obtain a Student Loan without a Cosigner if you apply through a Government Loan Program. One such Program is the Stafford Loans. You do not need an Income or Credit History to receive a loan.


The cosigner I believe but check with the loan issuers it's in the details.


You can get a federal loan also known as Stanford loan, as it isn't based on your credit history it doesn't need a cosigner. Private loans also don't need credit history and other stuff.


Yes if you are a US Citizen you may get a loan without a cosigner. However, your % will be higher in terms of interest. As a result it is best to have a cosigner.


It is very hard to obtain a private loan without credit or a co-signer. If you have collateral such as a vehicle/boat, then you may be able to obtain a secured loan from a credit union. Try building credit with a secured card or a student visa with a low limit before attempting to get a loan.


If the student loan is taken out in the name of the student then no. The student's credit score is separate from anyone else's. If the student loan is taken out in the name of the parent or with them as cosigner then yes - their credit scores would come into play.


SallieMae.com offers loans to sophomore or higher college students with out a cosigner.


Yes, if you have a good credit score.


You may want to consider a federal student loan as these types do not require a cosigner.


Nothing. The only option for being remove as a cosigner is to have the original loan refinanced without the cosigner participating.


This is a very poor credit score. You can apply but it is unlikely you will get a loan without a cosigner. If you are able to get a loan without a cosigner your interest rate will be very high as compare to someone with a good credit score of over 700.


The financial aid office of the institution you are, or wish to, attend.


Not possible as the applicant is a minor.


Most private student loans applicants are required to have a cosigner, especially undergraduates or students who don'tt have a steady income or credit history. The cosigner is required to sign the loan document, but the student is the primary borrower. By signing, the cosigner agrees to be fully responsible for repaying the loan if the student does not fulfill his or her obligations.


You should talk to your college's Financial Aid office, who will be able to direct you to potential loan sources which may not need a cosigner. Most students are not going to be able to get a loan without a cosigner unless it's something like a guaranteed student loan, in which the government is effectively your cosigner. You will need to qualify for a GSL, though, and your financial aid office will help you with that.


In some cases a cosigner may not be needed for a student loan. Check with your college's financial aid office.


You can get a loan if you are a student without a cosigner however it can also be a little tricky. I would suggest going to your local bank and chatting to a financial advisor for better advice.


If you have been looking for ways to pay for college, you have probably thought about taking out a few student loans. However, you might have found that a lot of student loans require that you have either a high credit score or a cosigner. If you don't have credit or if your credit is bad and if you don't know anyone who is willing to cosign with you for a student loan, you might be unsure of if you will ever be able to pay for college. Fortunately, there are ways to get student loans without a cosigner. First of all, you should consider talking to a financial aid adviser about taking out a federal student loan. Federal student loans allow students to borrow money for school without a cosigner, and they do not even look at your credit score, which means you will still qualify if you have bad credit or if you don't have credit at all. Along with applying for student loans, you can also apply for federal grants. Just like loans, these grants will provide you with the money that you need to pay for college, but you won't have to worry about paying them back in the future. Secondly, you could consider working on your credit score so that you won't need a cosigner in order to get a student loan. Although you might think it will be impossible to boost your credit score, it might be easier than you think. By getting a cell phone or cable bill in your name and paying it on time or getting a credit card and using and paying for it responsibly, you can boost your credit score, and this can help you qualify for student loans without the need for a cosigner. Lastly, you can consider looking for student loans that will allow students with bad credit to apply, even without a cosigner. Although this might be more difficult, a little patience might help you find a lender who is actually willing to give you a chance.



If you are getting a Federal Student Loan credit is not an issues. I just got a Federal Student loan and my credit is BAD!!! The thing is, is that it's a Federal Loan so you will always owe that money, even if you claim chapter 7 or 13. I was worried about that too, but I got one just fine.


Some student loans to have the option of cosigner removal. Those that have the option generally will do it if: 1) 2-4 years of consecutive, on-time payments have been made, AND 2) the student/main borrower now meets the credit criteria for the loan on their own.


Main requirements: Excellent credit, longterm steady verifiable employment, and a history of paying your bills on time.


AnswerThe short answer is no, you can never change cosigner on a private student loan. If they die, however, it is transferred to you.


The only way to be removed from the obligation of cosigner is for the loan to be refinanced.



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