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Receiving a college education may be the single most important accomplishment that one may achieve in their entire life time.

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The United States Federal Government acknowledges to unique situations surrounding college students seeking financing for their education, and offers prospective graduates no credit student loans through both of the federal financial aid programs. The Federal Direct Student Loan Program, or the FDSLP, and the Federal Family Education Loan Program, or the FFELP, provide students with a loan award process beginning with the Free Application for Federal Student Aid form, which does not take into account either the parent or the student credit scores as a basis for awarding loan amounts.

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One drawback to the federal student loan programs offerings through the FDSLP and the FFELP is that the Department of Education disperses these loans specifically on a needs-basis. Realistically, many struggling families will note many more worse off than themselves, and so in turn does the federal government – many students face low award amounts from FDSLP and the FFELP due to relatively elevated personal and family standing.

Federal no credit student loans not intrinsically linked to the FDSLP and the FFELP include:

• The Primary Care Loan program
• The Loans for Disadvantaged Students program
• The Nursing Student Loan program

Though students can only participate in one of the programs during an academic term and are free to choose either one to do so based on personal financial aid packages, the FDSLP offers the most simplified approach to no credit student loans. The federal government issues these FDSLP loan award amounts to students without utilizing private lending institutions or credit score analysis. In contrast, the application for FFELP loans requires absolutely no credit assessment, however, loan awards are processed through affiliated private lending institutions, who receive incentives from the federal government for participating with the Department of Education. Through the FFELP, credit assessments with private lenders may become an issue, however, it is notable to note the Department of Education awards every eligible student filing a FAFSA form at least one FFELP Unsubsidized Stafford Loan with the monetary award of $4,000 for first year undergraduates and a capped amount of $20,000 over the course of four academic years.

These niche loan programs offer students ulterior forms of no credit student loans. The Primary Care Loan program, for example, offers students intending to pursue medical degrees in allopathic and osteopathic medicine. Interest rates on the loan are fixed at 5 percent, and repayment offers a full one-year grace period following graduation. The niche stipulations for this loan are that students must remain employed in one of the aforementioned fields of medicine during the duration of their loan repayment process.

The Department of Health and Human Services sponsors the Loans for Disadvantaged Students program. The Loans for Disadvantaged Students program offers economically disadvantaged students a plethora of low-interest loans awards regardless of the borrower’s credit situation. Eligibility requirements for the Loans for Disadvantaged Students program include intentions to work in the following occupational fields including dentistry, podiatry, pharmacological, veterinary, osteopathic, optometry, or allopathic medicine. Eligible applicants must apply for the loans through their school’s financial aid department.

Another degree-specific, non-credit based financial aid loan is the Nursing Student Loan Program, which offers eligible prospective nurses $4,000 over the course of the academic year. As with most federally backed student loans, the interest repayment rates are well below market lending rates and extend an attractive nine-month repayment grace period following graduation. Maintaining the scholarship mandates only attending an accredited nursing school program with half-time student status.

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