No Credit Check Student Loans

Looking for no credit check student loans? These types of loans do exist, believe it or not. The only no credit check student loans you can get are federal student loans.

Federal loans for students are offered by the government as an investment in students' education. Because of this, the government backs each loan. This means that federal loans don't 'have any credit check or cosigner requirement. Because federal loans have no cosigner requirement, they are perfect for students with bad or no credit history at all.

Now, there are two federal loans given out: Perkins loan and Stafford loan. The Stafford loan is the bigger loan and comes in two flavors, depending on the student's financial needs. Low income students are given out subsidized federal Stafford loans – this is a loan where the government will pay the interest for the duration of the student's schooling. The unsubsidized Stafford loan can be had by any student, regardless of their income (and as long as they are an American citizen and have a social security number).

Now, if you are looking for a no credit check private student loan, there are a couple options you can seek out. Bad credit student loans are loans offered by poor credit lenders. Such loans can be found online. Keep in mind that these types of loans have very steep interest loans – you will want to avoid getting this type of loan unless you absolutely have no other way to pay for college.

Getting a no credit check student loan is possible, through federal loans or bad credit loans.

Source by Jon Snow

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