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