Private Student Loan Lenders
Your credit history doesn’t need to be a barrier between you and your education: Even borrowers with bad credit or no credit can find student loans. You may not even need a co-signer, although the backing of someone with good credit may improve your chances of approval and your interest rate.
Coming out of high school, you don’t have a long credit history to draw from, so lenders see you as a high risk proposition. And if you are someone who’s returning to school, you might have some credit strikes against you along the way. The good news is, your imperfect credit shouldn't deter you as there are many options for student loans for bad credit. In fact, depending on your situation, you should likely be able to qualify for federal student loans at an affordable rate as well as for private student loans either with or without a cosigner. While some private lenders require cosigners for borrowers who have low credit or no credit history, not all do. In fact, there are private loan lenders that cater to bad credit borrowers and that are willing to look at other metrics, such as your job prospects after graduation. |