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Private Loans – No Cosigner Needed

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

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More than 78% of all college students have credit cards, according to the United States Government Accountability Office, and of this group, as many as 20% of these indebted students carry credit card balances beyond $1000. That may not sound like much to the average adult, but to the student just getting started, it means these students are already in officially in debt. At some point, these indebted students will need to seek private loans, no cosigner needed, and outstanding credit card debt may affect students’ ability to gain approval for the very loans needed to complete a college degree and gain a job to repay the debt itself.

Do you need private loans – no cosigner needed?
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Company sponsored tuition programs can be very helpful to those students who can find employers offering this great benefit. Company-sponsored tuition programs are a sure ticket to obtaining private loans, no cosigner needed.

Benefits of company sponsored private loans – no cosigner needed include:

• Tuition reimbursement for college expenses
• Solidifies a working relationship with a company
• Secures future employment for the borrowing student
• Allows employment to continue while in school

Credit card companies notoriously lure students with easy offers of credit. Students unfamiliar with handling credit often misuse their credit cards. A significant increase in private loans, no cosigner needed, means simply that students will be solely responsible to pay back their student loans with no help from others, on top of sometimes crushing credit card debt. Parents and family members who want to help may not be in a position to do so as in times past. This is easily evidenced in the state of our nation’s economy, which currently includes falling housing values, job losses, reduced wages, skyrocketing gas costs, and other economic issues. Private loans, no cosigner needed, are becoming the only option available to students whose parents simply do not qualify as a creditworthy cosigner.

There is no way to deny that today’s college students face a much more difficult future than students of only ten years ago did. The burden of private loans, no cosigner needed, leaves many students without the support of parents, mentors, or family friends, who have the student’s best interests at heart, but simply do not have the resources to cosign for a loan.

Unless a student’s family is inherently wealthy, the road to a college degree, after completing the prerequisite FAFSA form online or through the mail, begins with a trip to the college’s financial aid office. Here, students learn that obtaining private loans, no cosigner needed, may be impossible. Therefore, after determining the grants for which they are eligible, students frequently turn to others who care about them for assistance. Fortunately, students can expect some financial aid from the federal government, and this aid is specifically need-based. Poor credit will not be a determining factor in deciding if the student may or may not receive Federal Direct Student Loans. Loan awards are determined by looking at the parental and student financial information including assets, liabilities, and current income, but not personal or parent credit history. Since no credit check or other rules impact the ability to receive this loan, as wel as some Federal Family Education Loans, students can solve their college finance problems by receiving these loans.

Although Federal Direct Student Loans can be approved without any credit information, Federal Family Education Loans are processed through a lender of private student loans. No cosigner needed decreases the student’s chance of receiving such a loan. The lender assesses the student’s credit rating, and for private loans, no cosigner needed, the student may prove to be too much of a financial liability to some lenders, but do not discourage, because other lenders might express interest in loans for students down the line.

Do you need private loans – no cosigner needed?
Apply for private loans – no cosigner needed today.