answersLogoWhite

0

  • Personal Finance
  • Loans
  • Student Loans and Financial Aid
  • Money Management

Where can I find a student loan because all my potential cosigners have bad credit?

User Avatar

Wiki User

βˆ™ 2006-08-17 11:22:40

Best Answer
Copy

Find a co-signer with good credit. The whole point of having a co-signer is that their credit history is good enough to cover whatever gaps you have (no credit, poor credit, etc.) No one will grant a loan with a bad co-signer.

User Avatar

Wiki User

βˆ™ 2006-08-17 11:22:40
This answer is:
πŸ€“
🀯
πŸ€”
User Avatar

Your Answer

Loading...

Related Questions

If cosigners for student loan miss a mortgage payment will this affect student loan?

As long as loan stays current, credit & other obligations irrelevant.


When your Father passed away how bad will a car repossession affect a cosigners credit?

It depends on how your father's death, the repossession, and the cosigners credit are corelated.


Which credit cards let you have cosigners?

i have no idea


Can a cosigner have bad credit?

Generally speaking no. Cosigners are needed for a purpose, and most often it is because the primary debtors has bad credit.


If the cosighner stops making payments on car loan but has the car and wont return it?

both owner cosigners credit will be affected both owner cosigners credit will be affected


Will a cosigner's credit be affected if they cosign for someone who has a bad credit score because of a Chapter 7 bankruptcy?

The cosigner's credit will only be affected if the person that they cosign for defaults on the loan. The bankruptcy will not affect the cosigners credit.


Does breaking a lease hurt cosigners credit?

That is why the cosigner is there. To back up the contract if you bail.


What is the lowest a cosignee's credit score can be?

Most lenders prefer a cosigner to have a credit score of at least 620. However, cosigners with a credit score of 720 or above is always preferred.


Can a cosigners credit get the car repossessed?

As long as the loan for the unit is paid each month, the collateral will never be repo'd.


Where can I get high school student credit cards ?

If you have a job or if you are a working student, you can apply to have a credit card. Because credit card companies like HSBC will not allow people to apply for a credit card without a salary. If you are a working student, you can apply for one and the amount or limit of your credit card will depend on your salary.


When getting a loan with a cosigner does the credit check go off of the cosigners credit or the borrowers credit?

The credit of the primary borrower(s) and the cosigner(s) are equally affected (positively or negatively) and both are subject to the credit history check and evaluation.


How do you get a loan with no credit check?

There are lots of people with no credit like the new collage students or borrowers, and such people have also opportunities to borrow money for the collage expenses. It is well-known that no credit is far better than a bad credit, but most of the lenders or institutions offering credit to the students need cosigners for such situations. One of the most popular and best student loans offering no credit check loans to the students are Perkins and Federal Stafford loans offering long term interest and support. One can also avail no credit check student loans from state-based federal loans.


Do you think Credit card is necessary for a student?

A credit card is definitely not necessary for a student. In fact, it would be much better if the student did not have a credit card. A plethora of students become thousands of dollars in debt because of unwise decisions with their credit cards. If a student careful budgets the money he earns and makes wise spending decisions, he will be much better off than using a credit card.


What are advantages disadvantages of using credit system in education?

Credit system helps to keep everything uniform. It does not always show the full potential of each student if they do not fit in with the scoring system.


When is co signer required to take over student loan payments?

The co-signer is fully responsible for paying the loan and, therefore, they should take over the payments immediately to prevent damage to their own credit record.Cosigners should make certain they know what their obligations are before they sign. A person who has poor credit or no credit record needs a cosigner when they borrow money. A cosigner is a person who accepts the responsibility of repayment of a loan along with the primary borrower. The lender requires a cosigner to increase the chances that it will be repaid. The cosigner is sometimes referred to as the guarantor because they guarantee the full repayment of the loan in the event the borrower defaults. The cosigned loan will appear as a debt on the cosigners credit record.The co-signer is fully responsible for paying the loan and, therefore, they should take over the payments immediately to prevent damage to their own credit record.Cosigners should make certain they know what their obligations are before they sign. A person who has poor credit or no credit record needs a cosigner when they borrow money. A cosigner is a person who accepts the responsibility of repayment of a loan along with the primary borrower. The lender requires a cosigner to increase the chances that it will be repaid. The cosigner is sometimes referred to as the guarantor because they guarantee the full repayment of the loan in the event the borrower defaults. The cosigned loan will appear as a debt on the cosigners credit record.The co-signer is fully responsible for paying the loan and, therefore, they should take over the payments immediately to prevent damage to their own credit record.Cosigners should make certain they know what their obligations are before they sign. A person who has poor credit or no credit record needs a cosigner when they borrow money. A cosigner is a person who accepts the responsibility of repayment of a loan along with the primary borrower. The lender requires a cosigner to increase the chances that it will be repaid. The cosigner is sometimes referred to as the guarantor because they guarantee the full repayment of the loan in the event the borrower defaults. The cosigned loan will appear as a debt on the cosigners credit record.The co-signer is fully responsible for paying the loan and, therefore, they should take over the payments immediately to prevent damage to their own credit record.Cosigners should make certain they know what their obligations are before they sign. A person who has poor credit or no credit record needs a cosigner when they borrow money. A cosigner is a person who accepts the responsibility of repayment of a loan along with the primary borrower. The lender requires a cosigner to increase the chances that it will be repaid. The cosigner is sometimes referred to as the guarantor because they guarantee the full repayment of the loan in the event the borrower defaults. The cosigned loan will appear as a debt on the cosigners credit record.


Why is my student loan reporting a credit limit?

The credit limit is the initial amount of your student loan. It helps keep your student loan from skewing your debt to credit ratio which can lower your credit score and make it more difficult to get credit.


Is co-signer's credit affected if loan is not approved?

The cosigner evidently didn't have great credit either, since the loan didn't get approved. It will still reflect on the cosigners credit report that they applied for a loan. Multiple inquiries will reduce your credit score.


What does a cosigner have to to have?

A cosigner must have good credit, a reliable income and the willingness to sign for another individual. Cosigners help primary borrowers build a good credit history, along with on-time payments.


What credit cards can you have cosigners for?

Cosigners take 100% responsibility of that debt. It is no different than if they went and took a loan out and gave you the money. If you choose not to pay then the Cosigner is stuck paying the debt. Most credit card companies will accept a cosigner as long as they know they will get their money one way or another. Cosigning for a small amount on a credit card such as $500 - $1,000 is a good way to help your children establish their credit rating and hopefully become more independent. Marcy


Can students with cosigners still get loan forgiveness for student loan debt?

You might be able to obtain forgiveness for a Federal Stafford loan if you get a job in a public interest or non-profit institution. Otherwise, the cosigner is likely to end up footing the bill or suffer the consequences to their credit.


How does deferring a student loan affect credit rating?

Generally a student loan does not affect your credit rating


What are the advantages of getting a student credit card?

Student Credit Cards allow for a certain level of independence on behalf of the student without the level of danger or risk brought about by normal credit cards.


What are some sources of student credit cards?

There are many sources of student credit cards. One can obtain a student credit card through companies such as Capital One, Discover, Visa, or Mastercard.


What are the requirements needed to get a Citibank student credit card?

In order to get a Citibank student credit card, one must be a student, then have to have one student card. Another requirement to get a Citibank student card is identification.


How are Chase student credit cards applied for?

One can apply for a student credit card with their local bank or through the website of any banks offering student credit cards. One can apply with Chase Student Banking or Bank of America.