As the cost of a college education continues to rise, more students and parents are being saddled with taking on financial aid. Unfortunately, given the tough economic times over the past decade, there are many people who may have bad or no credit, which can make it difficult to qualify for certain types of student funding.
For those looking for student loans with bad or no credit, a no credit check loan may be the easy solution. Below, we will discuss how to get a student loan with no credit check as well as some alternatives, such as unsubsidized federal options.
Student Loans With A Cosigner
One way to help your application through the student loan process is to go in with a cosigner. This way, you have someone else who will share in the responsibility for the debt even if he or she won’t actually be repaying it. Simply having a cosigner on the application, especially if they have good credit, means that there is another individual who also has an obligation related to the loan, thereby reducing the risk to the lender. This can help to get the financing pushed through with a private lender as well as lower your interest rate. (more…)