Why Should I Apply for Student Loans without Cosigner?
By applying for student loans without cosigner you can get money for tuition and other costs pertaining to your education in a convenient manner. You do not have to have good credit score or a creditworthy cosigner which makes the process of applying for these loans a lot simpler than student loans that require a cosigner. As many students have bad credit history and many do not have a cosigner¸ they remain deprived of getting money for college. Student loans without cosigner solve this issue and provide such students with funds for college without such conditions.
What are the Types of Student Loans without Cosigner?
Student loans without cosigner basically entail the loan programs sponsored by the government. These include Federal Stafford loans and Federal Perkins loans. Both these students’ loan programs are granted on need basis. Perkins loan programs¸ however¸ are available for those who demonstrate exceptional need. The interest rate of these student loans without cosigner is fixed. In case of Federal Stafford loans¸ you can start making the repayment 6 months after graduation while Federal Perkins loans require you to start repaying 9 months after completing your education. These student loans without cosigner can be subsidized or unsubsidized.
How Can I Apply for Student Loans without Cosigner?
If you want to apply for student loans without cosigner you must be enrolled in an eligible program. You should be a U.S citizen as well. Those who want to apply for this financial aid program also need to demonstrate financial need and file the FAFSA.