Q:

How do you get a student loan without a co-signer?

A:

Quick Answer

To get a student loan without a co-signer, fill out the Free Application for Federal Student Aid, according to About.com. Students who have reliable income and good credit histories may also qualify for private student loans from banks, credit unions and other lending institutions.

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Full Answer

The FAFSA enables students to borrow money from government loan programs such as the Perkins and Stafford programs, explains About.com. The programs restrict how much money applicants can borrow, but they do not factor in income and credit history, meaning that just about anyone qualifies. Students who need more money can turn to private loans. They are more expensive and harder to qualify for, especially if a student plans to sign for them alone. Starting early to establish a credit history and an income, even if it is based on part-time work, goes a long way toward helping a student qualify for a private loan without a co-signer. If a student owns assets such as a car or boat, he can apply for a loan in which he puts up the assets as collateral, and uses the money to fund his education.

Students should fill out the FAFSA as soon as possible, explains the U.S. Department of Education. Many states, colleges and private lenders also use the FAFSA to calculate eligibility for aid.

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