No-credit/cosigner loans?

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No-credit/cosigner loans?

Postby catilineconspirator » Mon Feb 16, 2009 6:16 pm

I am an undergraduate looking for a private student loan of about $5-8000/yr so I can finish the next two years of school. I have minimal federal loans/grants but I need more to cover tuition. I am 20 years old, I am a good student (3.8 GPA) but I have no credit and no cosigner, do I have options? I am not too particular about interest rates at this point, I just need to get a degree. Ideally I would like to get a loan I would not have to start paying back until after graduation as I will be working full time just to pay rent/utilities/food etc... Thanks for any advice
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Re: No-credit/cosigner loans?

Postby Ms. Stafford » Tue Feb 17, 2009 1:53 pm

Hi catilineconspirator, at this point in time with the economy the way it is, I do not know of any private student loans available without a cosigner. There used to be loans like that, but nowadays they are mostly all cosigner mandatory. The Stafford loan amounts may be going up a few thousand dollars next year as well. Also, do you have a parent that had mediocre to poor credit? If you do, and they are willing to apply for a Parent plus loan for you (and get denied), then that would make you eligible for more in the Unsubsidized Stafford loan. You can get up to 6000 more year. Let me know if you have more questions about how that works. Or you can visit this site: http://www.staffordloan.com/stafford-lo ... t-loan.php
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Re: No-credit/cosigner loans?

Postby catilineconspirator » Wed Feb 18, 2009 6:37 pm

No, the problem is my parents have good credit, they just don't want a loan like that hanging over their heads with the economy the way it is. I'm not sure if I'm considered independent or not, not sure that means anything.
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Re: No-credit/cosigner loans?

Postby Ms. Stafford » Tue Feb 24, 2009 2:31 pm

If you are under 24, and not married then you are a dependent. Private loans can be risky...have you mentioned the parent plus loan to them at all? It has a fixed interest rate of 8.5%, so there are no surprises with that loan. Payments are deferred until you are out of school, and you could make the payments on it when you graduate. The loan would always be in their name until it is paid off, but it is basically a no risk loan that you could be responsible for...like an private agreement between you and them.

You can also tell them that aside from the Stafford loan, you can't get a loan without their (or someone's) help. There just aren't that many options right now for students. It is sad, because I talk to a lot of people that have to drop out.
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Re: No-credit/cosigner loans?

Postby Ms. Stafford » Tue Feb 24, 2009 2:35 pm

I forgot to mention that the plus loan is a federally guaranteed loan. It has unemployment and economic hardship deferment options (loan payments can be stopped should those things occur). It is also forgiven should anything happen to the borrower or the student that the loan was borrowed for....just a few points to try and sell your parents on it :) good luck
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Re: No-credit/cosigner loans?

Postby joejolie » Tue Jun 30, 2009 6:48 am

If you don't find a cosigner, the result will be the rejection of your application. Now there are some loan programs that are still providing student loans without cosigner. If you don't know much about it then, it is a student loan program where the students get the finance without having the cosigner or credit history. Federal organizations are providing these kinds of loans to the students. Federal Stafford Loans are an example of bad credit student loans without cosigner. With this loan a big part of your study will be covered. To do so you first need to fill the FAFSA form that is available in United States of America. After this apply for the Stafford loans.

Find little bit and you will surely get the loan and achieve your goals.

Best of Luck !

Jolie Joe 8)
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Re: No-credit/cosigner loans?

Postby dmarie » Sun Aug 09, 2009 10:14 am

Where are the no-credit/cosigner loans? I followed the link on these posts but just keep going to more search pages. Does anyone know of a specific bank/company that is giving no-cosigner student loans? Last year my daughter had a loan from Campus Door, no signer. There were a division of Lehman Bros, and no longer in business. Unfortunately, I am unable to co-sign for her and we have no one else.
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Re: No-credit/cosigner loans?

Postby spaspa » Sun Aug 09, 2009 10:28 am

I'm with dmarie, does anyone know any specific banks or lenders that can do this?

I know all about Stafford loans and federal help, and it's kind of annoying that that's all they ever try to push on you, but those are rarely enough...
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Re: No-credit/cosigner loans?

Postby mickey » Sun Aug 09, 2009 4:48 pm

My son received his financial aid results and unfortuantly it is not enough to cover his housing expenses. His father and I have to move out of the state due to financial reasons. With the state of the economy he is not eligible for a no-cosigner private loan. I just read on the forum he would be eligle for more stafford loan funding if his father or I was denied a student plus loan. My question is can I still apply for this loan even after filing bankrupcty this year, even though I know my application will be rejected. Does he have any other options. He does work and attends school full time.
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Re: No-credit/cosigner loans?

Postby SUPERBROKER » Wed Aug 12, 2009 3:51 pm

mickey wrote:My son received his financial aid results and unfortuantly it is not enough to cover his housing expenses. His father and I have to move out of the state due to financial reasons. With the state of the economy he is not eligible for a no-cosigner private loan. I just read on the forum he would be eligle for more stafford loan funding if his father or I was denied a student plus loan. My question is can I still apply for this loan even after filing bankrupcty this year, even though I know my application will be rejected. Does he have any other options. He does work and attends school full time.


If you're currently in bankruptcy proceedings you are restricted from applying for ANY credit. If your BK has been discharged to ahead and apply and upon it being declined your son qualifies for up to $5,000 (jr/sr.) or up to $4,000 (fresh/soph) in additional FEDERAL FUNDING in the form of another un-subsidized stafford loan.

Also a co-signer doesn't have to be just mom or dad. It could be an older sibling, boss, pastor, aunt, uncle, grandparents, etc.

Good Luck...
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Re: No-credit/cosigner loans?

Postby John Watson » Wed Aug 26, 2009 12:05 pm

An Unsubsidized Stafford Loan is a federally secure loan that is not supported on financial need. Interest will accrue from the time the loan is disbursed to the school. You do not have to make interest or principal payments until six months after graduation, or six months after you drop below a half time status.
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Re: No-credit/cosigner loans?

Postby Darkmessiah » Sun Nov 29, 2009 9:17 pm

Hi i have been searching for student loans with no credit or co-signer for a while and can't find one. I qualify for the maxium amount of stafford loans,perkins loan, pell grant and i still can not afford tuition. I need as im sure may people who visit this forum need to know if anyone has found or heard of a private or alternative loan to cover the remaining cost of attendance of undergraduate school. I have no credit, no credit card nothing. I have no willing co-signer, no preacher, no parent, no one. I need to know of a bank or some other corporation to loan me the remaing tuition so i can attend school. Can anyone here tell me of such a place?
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Re: No-credit/cosigner loans?

Postby lknopp1 » Tue Mar 09, 2010 6:34 pm

Remember that to get a student loan without a cosigner you are going to have to either have really good credit and a solid income, or apply for a kind of student loan that doesn't require a cosigner. This will limit you to federal student loans most of the time, and while you could have found a private student loan without a cosigner a few years back, in today's lending climate it would be virtually impossible.
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Re: No-credit/cosigner loans?

Postby needmoneyforcollege » Sat May 15, 2010 5:33 pm

My parents credit have been ruined due to job lay-offs and I don't have anyone to cosign for me? Are there any loans that I can apply for without a co-signor. Still $7000 short for school year and I have received the Stafford Loan. Any help for me?
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Re: No-credit/cosigner loans?

Postby ejacobs » Wed May 19, 2010 12:22 pm

Hey guys,

If you still need help finding these types of loans.... check out the blog post I wrote on students that can't receive federal aid. -EJ
Student Advocate, The Student Loan Network

Check out the Student Loan Network Official Blog for the latest in financial aid news and tons of helpful, informative posts.
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Re: No-credit/cosigner loans?

Postby Davis Brown » Fri Nov 25, 2011 2:20 am

If you need education loan without cosigner then don't worry. Private student loan no cosigner is available which definitely make your dream true. By availing this loan facility you can easily manage your day to day expanses and other costs incurred while going for higher education. The most important thing is that you can get this loan even if you have no cosigner. This loan is approved very quickly.

Image
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Re: No-credit/cosigner loans?

Postby jamespdavid » Wed Dec 21, 2011 4:13 am

I suggest you to check policies of loan very carefully. Don't take any loan without knowing about it. First consult with loan provider and know all policies of that loan. When you are verified then apply for this loan. Thanks..
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Re: No-credit/cosigner loans?

Postby justinbery » Fri Feb 10, 2012 12:09 am

IF you are searching for getting uncertified student loan, then private institutions are the best available scope to acquire need amount of money in less time and without a need to submit collaterals. So contact soon to get loan money.
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Re: No-credit/cosigner loans?

Postby khriskirk » Fri Aug 10, 2012 12:24 pm

Ok so I am about to be a college freshman & I am short $4000 dollars. I have applied for loans with almost everyone in my family and they all have bad credit or they dont qualify because they owe money for loans. I have no credit & no job. My mom also applied for the plus loan & got denied so I got the 4000, BUT its just 2000 a semester. Im sure a lot of people want to know where can we go & what can we do to get money if you have no credit or credible cosigner?????
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Re: No-credit/cosigner loans?

Postby edvadmin » Fri Aug 10, 2012 2:18 pm

Unfortunately, it will be very difficult to find a loan without credit or a cosigner. I would suggest applying for scholarships.

Some suggested scholarship websites:
StudentScholarshipSearch.com
Fastweb.com
ScholarshipPoints.com
Admin, FinancialAidForum.com

Visit:
http://www.studentloannetwork.com
http://www.edvisors.com

Be sure to follow us on Twitter: http://www.twitter.com/finaidforum
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Re: No-credit/cosigner loans?

Postby dwayneR » Fri Aug 24, 2012 12:48 am

As long as you have a co-signer that makes above $19,000/year. The question is more based on the student's credit history than anything else. If the child is a ward of the state, then there are other options available and almost any school will have financial aid people that will assist.
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Re: No-credit/cosigner loans?

Postby collegeSOS » Tue Sep 25, 2012 5:52 pm

Our son has received the max on grants, stafford loan, a generous scholarships & participates in the Work Study Program to help pay for his tuition & yet we are still exhausting our savings and will be short for the coming spring semester. We attempted to just pay for freshman year outright but this economy is consuming our funds.

He just turned 18 last Thursday, applied for 2 loans & was denied due to no "credit history" & unable to find a "credit-worthy" co-signer. We have been on a first name basis with our Financial Aid Office & have assisted us as best they possibly can. But seriously, "What 18yr has credit?" So many have suggested... find a co-signer... easier said than done----we've exhausted our list & have NO ONE. Also we too were denied the Parent Plus Loan due to our bad credit, (which he did receive). At this point he may have no choice but to attempt the private student loan..... but is that even a possibility for an 18yr old with no credit card/credit history or co-signer?

We teach our kids the importance of education, to strive harder & aim high. It's rather difficutlt when we keep running into deadends & it breaks my heart that I may have to tell him, he may not be attending that college in the spring.

***** Does any bank/company take into account the "generous scholarship/grant" that students
receive???
***** Has anyone found a REPUTABLE BANK/COMPANY that does not require credit history or a
co-signer to help my/our STRUGGLING COLLEGE STUDENTS????
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Re: No-credit/cosigner loans?

Postby janiffer44 » Thu Jan 10, 2013 5:47 am

To know full details about the student without a cosigner loans , follow the link http://badcredit.student-loanswithoutacosigner.com
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