How To Get A Student Loan Without A Cosigner
What Are Student Loans Without A Cosigner? Student loans without a cosigner are loan programs extended to students which do not require them to produce a cosigner at the time of signing the loan deal. These types of loans are offered by the government as well as private companies and financial intermediaries. Private and federal loans have quite different features and applicants must always be sure to apply to federal loans before looking into private loan options.
How To Get A Student Loan Without A Cosigner By The Government?
In order to get a student loan without a cosigner which is offered by the government, students can apply to the federal financial aid program and select any loan of their choice and suitability since no federal student loan requires applicants to have a cosigner at the time of loan sanctioning. Students can choose from a plethora of loan programs offered by the government. These include:
- Subsidized Stafford Loans
- Unsubsidized Stafford Loans
- Perkin Loans
- Graduate PLUS Loans
- Parent PLUS Loans
Students are awarded the above mentioned loans depending on their need for finances. Those who are absolutely not capable of returning the loan money (highly financially constrained) often receive grants and scholarships by the government. These are gifts which do not have to be paid back and do not have any interest requirement as well.
Applicants interested in getting a student loan without a cosigner need to fill in the Free Application for Financial Student Aid (FAFSA) and submit it to the Financial Aid office of their respective institutes to qualify for a student loan without a cosigner.
How To Get A Student Loan Without A Cosigner By Private Lenders?
Students looking for a student loan without a cosigner by a private lender will face much difficulty. However, they are not impossible to find. Some intermediaries or private organizations do offer student loans without the requirement of cosigner. However, these are generally offered at a higher interest rate and they require the applicants to have a good credit history.