Student Loan Without a Cosigner

Student loans without a cosigner are possible for students who want to get a student loan but don't have any willing co-signers.

This is actually a fairly comment problem. If your parents or relatives are unwilling to cosigner for your loan or simply have bad credit, they will not be able to cosigner your loan with you. Or maybe you simply don't want to involve your family in your financial affairs. Whatever the case, it is possible to get a loan for student without a cosigner.

Now typically if you want to get such a loan, the best type are federal student loans. Federal loans offers students very low interest rates and friendly repayment plans. Also, federal loans don't require a credit check and are no cosigner loans. This means you can qualify for a federal student loan event if you have bad credit and no cosigner to help sign for you.

Getting a federal loan is easy - you simply fill out a simple application and wait to be approved. There are two types of federal loans for students: Stafford loans and Perkins loans. Both of these are no co-signer loans.
Now, in the case that a federal loan does not cover your full tuition costs, or you simply can't qualify for an traditional loan for students, you will need to look at getting a different way to pay for your college education other than federal loans for students. You will need to look at getting college grants, bad credit student loans, and other alternative sources of funding.

No Credit Check and No Cosigner Auto and Student Loans

Lately there has been a huge uproar over the legitimacy of auto and student loans that may or may not require a cosigner or a credit check. Much of this has to do with various marketing campaigns by certain lenders that have made it sound like that you either can have no cosigner or not have to submit to a credit check to get approved for your loan. When it comes to both auto and student loans you are almost one hundred percent of the time going to have to submit to a credit check to get approved for these types of loans. As far as requiring a cosigner, you typically won't need one if you can have good credit and a solid income, and with student loans there are actually loans that aren't based off of your credit at all and are instead based off of your need and other qualifications.

The truth is that you are going to have to submit to a credit check to get approved for one of these kinds of loans, and unless you have good credit and a substantial income you are also going to have to get a cosigner to get approved. The idea that there are no credit check and no cosigner auto and college loans on the market is simply a byproduct of what the payday loan industry has been using for their marketing campaigns. There are certain kinds of payday loans that don't require you to submit to a check on your credit and don't require a cosigner to get approved and while these kinds of cash loans do exist, they are not authentic auto or student loans. Don't make the mistake of looking for these types of auto and student loans because in reality you are looking for a loan product that doesn't really exist. The payday loan industry has essentially created the idea that these types of loans are on the market when in reality they are not, and that is why you should not waste your time looking for auto or student loans that don't require a credit check or cosigner.

Financial Aid For College - How Single Moms Can Save Money When Paying Back a College Loan

If you're a single mother, there are several things you can do when you leave college to make sure that you are not having to live on bread and butter for the next several years paying back your college loans. Most of us have to pay back tens of thousands of dollars upon leaving college to the tune of several hundred or thousand dollars a month. Here's a way to lower those payments and have a better way of life after college has ended.

The first thing you can do is ask for a break. Under employed borrowers can defer paying back their college loans. Whether you took out a Stafford loan or a Perkins loan, you can extend this. Sometimes up to three years. You can also pay interest while you are deferring the payment so it does not accrue.

Another possibility is to refinance the loan. I remember when I left college that I had to refinance because of a higher percentage rate. This was actually automatic. Many of the loans sell themselves to other companies and you automatically receive a lower percentage rate from the new company.

This may be different now because Fannie Mae and Freddie Mac are now defunct and you will not get such great deals anymore. However there are new companies that also allow you to stretch your payments out and cut the percentage rates to some degree. Doing this, you can save yourself a few hundred dollars a month.

The last thing you should consider is if you are going to college for the first time, or if you're a single mom headed to college to finish your degree, you may want to become a teacher. Look for federal grants such as the TEACH grants which is the teacher education assistance for college and higher education grant program which can provide up to $4000 a year for students that want to become teachers.

Regardless of your choice in life and what direction you are going in, you need to remember that you're going to have to pay the college institution that you're attending at some point. It is best to consider how much you are going to pay now, especially if you are a single mom, and also how much you can save on paying by applying for federal grants to offset this balance. In this way, you will save money when it comes time to paying for your college loans.

5 Ways to Pay Off Student Loans

Are you worried that you will not be able to pay all of your loans off until your grandchildren are grown? If you want to get rid of the burden of student loans and start living a life with more freedom, you can. You need a way of paying off students in a realistic and effective manner.

There are thousands of people who are paying off student loans and want them gone. It is especially crucial to pay them off since they are not dischargeable in bankruptcy. Don't freight, there are many individuals that have paid off their student loans with these 5 methods I'm about to show you.

Save, Save, Save - You can put away some money each week or month to put toward your college debt. When using this method, you must be disciplined with your money. This may also mean doing without some things. For example, no cable, no eating out at restaurants, no traveling/vacations and etc. But once you have paid off your debt, you can enjoy some of these activities.

Get a Second Job - Yes, in this down economy, you can still get a second job. It may not be what you want, but it's a job. One of my sharp accounting friends just took a part time job as a janitor. You can work an extra 15 - 20 hours a week for the sole purpose of paying off student loans. If you do this for a few years, you'll have your debt paid off much faster than say 20 or 30 years.

Join an Internet Network Marketing Group - It is now getting easier to use the internet and has made network marketing more practical for everyone. The great thing about network marketing is that there is a low entrance fee and you work with a group of people who show you how to make money. Every year, more and more people are electing this option to create extra income.

Get a Roommate - If you have enough room in your home, get a roommate. I know several people who take this approach. You can find a friend or ask around to see if anyone is looking for a roommate. In fact, there are places you can go online to find roommates in your area. Please be cautious when taking this approach and do the necessary due diligence for a potential roommate.

Purchase and Renting Real Estate - Another approach is purchasing real estate and renting out the dwelling. We are currently in a buyer's market and with the foreclosure rate being so high, this means there are more renters available. If you don't have much money, you can go to a bank and ask for a loan or partner with someone to do this venture. You can take the proceeds from the rents and put them toward your debt.

Please note that none of these methods are a get rich quick scheme. Each method takes a level of commitment and diligent. However, I do believe that if you can graduate from college, you should be able to successfully pay off your student loan debt using at least one of these methods.

Pell Grants For Single Mothers - How to Get a College Degree Without a Student Loan

The Pell Grant is a great source of educational funding that all students should qualify for. The problem is qualifying with can have to do with a variety of problems. The choice to go to school is an extremely important one to think about. Obtaining a college degree will provide you with the necessary skills and knowledge to become successful in the career of your choice. But how will you get funding for it? Take out a student loan? Absolutely not. If you are a single mother, you need to apply for the Pell grant, and not student loans, to pay your way through college. Here is why.

Getting an education is an investment in your future. Before you select your career, it's necessary to consider how much time, money, and commitment you've got to prepare yourself for a job. Selecting the best career and funding school takes a great deal of forethought. The same type of thinking needs to go into your idea of where school funding will come from.

Financial scholarships can be a stepping-stone toward your success. The point of financial aid is to assist students and even working moms with their educational expenses so that economic barriers don't stop them from obtaining their academic dreams. The Pell grant, and other grants such as the TEACH grant, are major contributors for funding educations. Recently the Obama administration helped increase Pell funding to $5100 per semester to help single students, including single mothers and fathers, finish their college degree.

An often overlooked source of student aid are scholarships. These are given to students that fulfill certain qualifications. Leadership scholarships are handed out to those that meet certain specific standards.

Scholarships may necessitate qualifying by having a high grade point average or doing community activities. Getting a full ride scholarship would be a fantastic gift, but few get this, and that is why the Pell grant, not student loans, should be your primary focus.

One other thing to think about before pursuing a college degree is the overall cost. Not just school, but how much itll cost to live, eat, pay rent. The possibility exists that you will not receive the Pell Grant. Should this happen you would need to consider students loans, but only as a last resort. You will have to consider qualifying for some of the loans provided by your college such as the Federal Perkins loans or the Federal Parent PLUS loans.

So your best option is getting the Pell Grant. All of the student loans have very high rates of interest which you want to avoid. If you are a single mother, or any college student, and can qualify, you will be able to get your 2 year degree on the Pell alone, so it is in your best interest not to take out any type of student loan if grants or scholarships are accessible.

Update: There are many other grants that are available including student specific, subject specific, degree level, minority grants, and other sources of federal and state funding. Your best bet is to ask your College financial advisor about these additional options.

Do Stafford Student Loans Cover The Cost Of Education?

Stafford student loans are the most popular used aid package for financing college. It is available to all students who attend accredited schools. The advantage of stafford student loans is rate and terms:

• stafford student loans rates are fixed and lower than other college aid packages
• stafford student loans do not require a credit check or collateral
• stafford student loans have repayment terms of 10 years; under consolidation, terms can be extended to 20 and 30 years depending on the amount being consolidated

The disadvantage of stafford student loans is the loan amounts available. The total amount available for undergraduate students in the 1st and 2nd year does not cover the cost of education. The loan amounts are also subject to the student's dependency and independency status. Dependent undergrad students get even less when they apply for stafford student loans:

Aggregate Annual Loan Amounts for Dependent Undergraduate Students

• First Year: $3,500
• Second Year: $4,500
• Third Year and Beyond: $5,500

Aggregate Annual Loan Amounts for Independent Undergraduate Students

• First Year: $7,500
• Second Year: $8,500
• Third Year and Beyond: $10,500

The annual loan amounts will barely cover the cost of tuition, not to mention housing, food, transportation, recreation and other related college expenses. With the average costs for college ranging from $16,000 to $35,000 per year (depending on which university you attend), you can see why Stafford student loans pay for only a part of the total academic cost. So What Should You Do:

1. First Step: Start with a Budget Plan
   All students should have a budget plan for school. The plan lists the financial aid options you have for the academic period and the month-by-month spending plan.
   Budget plans help students understand where they need to save and reduce daily spends in order to stay within limits.
   You can estimate and budget these expenses by month using budgeting worksheets and other online budgeting forms.
   
2. Get All of the Stafford Student Loan Money You Can Get
   You may require multiple financial aid sources to help pay for school. So start by getting all of the stafford student loan amounts that you can get. It may not be much, depending on your status and grade level. But every dollar counts.
   
3. Look for Other FREE Financial Aid Options
   There are FREE financial aid options that can help pay the cost of education. The most popular FREE option is scholarships. Another is work-study and other college aid. Another is community service. So complete a thorough search of ALL available aid options.
   
4. Keep Tally of Your Financial Aid Sources
   You may be using scholarships, college aid, stafford student loans, work-study, and other aid sources to pay the full cost of education. Keep track of that information regarding aid amounts, sources of aid, aid provider name and address, aid terms, etc. It will come in handy for successive years when you need new aid and when you need to consolidate loan amounts upon graduation.
   
5. Use Private Student Loans to Close the Gap
   If you need additional money to make up the difference between the costs and aid received, consider using private student loans to close the gap. With most private student loan programs, you can borrow up to the cost of education (within limits) to pay tuition, housing, computer, and other related college expenses not covered by college aid and parent contributions. You generally don't have to make payments until after graduation. Private student loans are a great resource when you need extra money. Sometimes your college and personal aid will not cover the full cost of education after your run your budgeting analysis. That is when you turn to private student loans to make up the difference from the cost of education and the amount of student financial aid that you have.
   
6. Use Pre-Paid Credit to Manage Your Money
   Pre-paid credit is one of the best money management tools for students on tight budgets. Pre-paid credit works exactly like credit cards except for one thing -- the amount you can spend with the card is dependent on the amount you load to the card. That is a key advantage. You can budget what you want to spend by week or by month and load that amount from your student funds to the card. You can then use the card to buy food, supplies, recreation, etc., and limit your spend to the amount loaded.
   

Stafford student loans may not cover your full education costs. But they are a great source of aid to have in your pocket when considering the aid options you need to attend school.

You can get more information about stafford student loans and other benefits mentioned above:

• about stafford student loans
• using private student loans to close the gap

Krayton M Davis is the Executive Principal of nBuy Associates, which owns and operates the SayStudent College Financing Guide. For more information about our services, link to: http://ww

Government Student Loan Consolidation Pros and Cons

Student loans can feel like a crushing burden to many people. One possible solution is government student loan consolidation. Although this can certainly lower your overall monthly burden, it's important to do your research before you rush out to consolidate. There are some specific negative consequences you should also be aware of.

First off, let's discuss the benefits of government student loan consolidation. Once you consolidate, you will have a stable interest rate below 8.25%. This rate can never change so it will make planning for the future much simpler than it was before at a variable rate that could shift with the economic winds. You can also choose to extend the term of the loan out to 30 years which will significantly lower your monthly payments. All of this can be accomplished in a very simple loan application process. And don't worry about fees, credit checks, or prepayment penalties, because none of these apply.

It may seem like a slam dunk case, but there's more to it than that. When weighing government student loan consolidation, you must consider the negatives. There are two specific situations when you should never consolidate. If you are near the end of your loan term, there is no benefit and when your consolidated rate would be higher than your current rate you should absolutely hold off. There are additional reasons that might figure into your decision though. Consolidating now could mean missing out on a lower interest rate in the future since you can only take advantage of government student loan consolidation once. You will also lose your 6 month post graduation grace period once you consolidate.

Given all of these factors, take the time to look over your specific situation. Do further research and try to determine if government student loan consolidation is right for you.

Some Simple Advice on Student Loans

In these hard economic times, it is important to understand your options when you are thinking about a student loan or getting ready to pay one off. Some people are confused about how student loans work, but it is vital that you know how these student loans work so you can make the best decisions as you move forward with your education or begin the pay-back process after the degree. There are a few common mistakes that you can avoid that will save you money as well.

If you feel that you are unsure what a student loan really is and how it works, let's explore this first. Being informed about what you are getting in to and what us expected of you with a student loan will help you make an informed decision. In a nutshell, a student loan is an unsecured loan (meaning no collateral is necessary) that can be given to you by a bank or government organization. Depending on your age, these loans may be given to your parents for your educational use. Unless you have a full ride scholarship or a lot of little scholarships or grants that add up, you are probably going to need a student loan to get through college.

Your next question may be wondering if you should even take out a student loan right now. If you're High School graduation is just around the corner, then you may need to reword that question to ask what options you have in this recession. You may have read all the reports on the job market, and how college degree holders are still finding themselves without jobs. What was once your golden key may not look as golden anymore, and tacking a student loan onto the top of it may not seem to make sense to you. But remember, our economy has always gone through these peaks and valleys. Even though jobs may be scarce, those with the degrees will be the first to get the jobs once they are out there again. If jobs are unavailable, then the best place for you may be in college, furthering your education, while the economy heals, even with a student loan.

If you are one of the many that finds yourself at the point where you need to begin paying back that student loan but you don't have a job, then there are still some options for you. You first option may be to continue with your education, even though this means you will take out more loans. This course goes hand-in-hand with college being the best place to be while you're riding out this iffy job market. There also may be programs that let you defer your payments even longer so do some research on this as well.

Finding loans and funding to complete your education is a huge step. To ensure you get a student loan, make sure you do your homework and know all the facts. Check the current job market and be sure that there are going to be jobs available when you complete your courses.

Student Finance - Reducing the Cost of Education

As we all know, being in education can be a very expensive time. It often has significant costs (accommodation, food, bills, books etc) and, because it can take up a lot of your time, you are often left with little or no time to work to pay for your education.

Thankfully the government recognises this fact, and also realizes that education is crucial to our country's long-term growth prospects. As a result, it offers several tax breaks for those in education. The following are a few of the more common ones, which may well apply to your or your children:

1. College Costs

If your income is below a certain level, currently $65,000, you are allowed to claim up to $4,000 in tax breaks on your college costs. Even if you income is higher than this ($65,000 - $80,000), you can still claim $2,000 in reduced taxes.

To claim back tax on the costs of your education, you need to complete an IRS Form 1040.

2. Tax Credits

There are a couple of tax credit schemes that you can take advantage of if you have low to moderate earnings. The first is the Hope Scholarship, which can be worth up to $1,500 for each of your first two years at college. The second is the Lifetime Learning Credits scheme, which is worth up to $2,000 per taxpayer.

There are a couple of conditions which apply to these schemes - first, a student may only make use of one of them each year. Second, you are not allowed to withdraw money from certain types of saving account while claiming a credit. Third, you are not allowed to claim college expenses at the same time. However, both schemes offer significant advantages, making them well worth investigating.

3. Tax Free Educational Accounts

There are a couple of types of bank account that you can use to protect your savings from tax, and to help fund your education. These are Education Savings Accounts (ESAs) and section 529 plans. In both cases, your money is not taxed provided you withdraw it and use it to pay for legitimate education expenses.

The only real downside to using these accounts is that they may make you ineligible for other types of educational funding help, so you should check with your financial advisor or speak to someone at your bank to help you decide which is best for you.

As you can see, funding your education doesn't have to be as expensive as it can seem. The government has provided a number of tax benefits for students, but it's up to you to make the most of them.

Once a self-confessed spendaholic, Paul Watkins now works hard to control his own finances, and enjoys passing on the lessons he's learned so that others can do the same

Student Loan Refinancing - A Guide

Refinancing your student loan can be a tricky business; there seems to be plenty of information on the internet but a lot of it can be quite misleading. This article looks at addressing particular issues so that when it comes to refinancing your student loan you are armed with all the correct knowledge.

It is usual that student loans have a period after the student has left education that the loan does not have to be repaid. This can be anything from a year to six months and is a perfect opportunity to shave years off the loan repayment period as any payment made during this period goes toward the principle repayment and is not wasted on interest. If you are hoping to refinance then this period is also very important as it can save you money and the lender will give better repayment options.

Financial institutions also offer lender incentive deals to reduce interest rates and further save money for the person taking out the refinanced loan. It is important when considering loan refinancing to take these into account when targeting the right deal for you as they can change your rate of interest from a quarter percent to anything up to two percent. This can lead to massive savings so remember to calculate these discounts and incentives to your final figures.

Rules in the recent past have changed and long gone are the days of refinancing your student loan on multiple occasions to continually get the best deal at the current interest rates. Borrower can now only add additional loans to the refinance package so it is important to get the right product first time around. Research is imperative to make sure you select the right product for your personal economic situation as this loan can be anywhere up to and above 10 years..

It is always a good idea to keep your credit score in a healthy position. When looking to refinance and consolidate any type of loan, the better your credit score, the better rate of interest you will be offered. Once again, this can lead to massive differences in the repayment of the debt so it is an important point to consider.

Student Loans - Helpful Tips

There is nothing as frustrating for a student than running short of money to pursue his educational goals. But then there is nothing to lose hope as there are low interest student loans designed exclusively for students who need funds to pursue higher studies. There are essentially two types of loans, the first one from programs run by the government and the second type can be obtained from private lenders. The low interest student loans offered by private sources are tougher to procure and they give a lot of importance to credit rating. But the government loans are easier to procure and you do not even need collaterals or a good credit rating to obtain such loans.

What do low interest loans mean? These are especially designed for students where the monthly payout is affordable and the tenure of the loan is also long, so that it becomes easier for the student to repay the loan. The interest amount that you pay for the low interest loans is effective from the day of loan disbursement. You could either decide to pay the interest amount first or have it added up to the principal amount to be paid back.

Though students have the option of taking low student loans from private sources, it is recommended not to go for these, since government-backed loans are easier to repay. Their terms and conditions are far more flexible than privately-organized cheap interest student loans. Also, government-sponsored loans can be obtained directly or through programs backed by the government.