Student Private Loans Without Co-signer
Learn more on Student Private Loans.
Most students are rely on the federal student loans to cover their education expenses. And the federal loans are likely to be obtain and no co-signer required. But the loans might not sufficient to cover all expenses, so most of the student will go for 2nd option - private loans. The loans are particularly designed to close the gap.
The private lenders lending the loans to those with good credit score, many student yet to build up the credit score will get their parent as co-signer. The one with credit history will responsible if student defaulted his payments. Nevertheless, if you are the student who has build up a credit history, you will able to find a private loan without co-signer.
Below are some guide and tips to obtain the loan without hassle :-
1) Make a copy of your financial document such account statement, income tax returns, credit card bills and etc. To proof that you have solid income and low level of monthly debt.
2) Request you employer to write a letter to proof that you are employed and how long you have been worked for the company. Lender will need to confirm your ability of repayment of the loan.
3) Your regular bank might be a potential lender for you, just talk to the officer that you need the loan with no co-signer. They will explain what are the requirements of taking the loan.
4) Let the bank to access your credit history, if your score is above 620 there will be easier to get the loan. The solid score is gained from all payment on time history.
5) Other than banks or institutions, there are some small private institutions are administered by donors, their websites such Prosper.com, Lendingclub.com and etc.
For more student loans information and advice, please check out Student Loan Guide instead Student Private Loans
Return to Loan-God Home Page
Return to top of the page