No Credit Check Student Loans
Looking for no credit check student loans? There are quit a few very good options out there for you.
Now, what are the best no credit check student loans to get? The answer would be federal student loans. Federal student loans are no credit check loans that don’t have any cosigner requirement. Since federal student loans are not given out on the basis of credit history, this means that practically anyone can qualify for these loans.
If you have terrible credit or if you have good credit – you will get the exact same interest rate. If you happen to have bad credit, you won’t find any other better student loan other than a federal loan. Now, federal loans for students come in two flavours: Stafford Federal Loans and Perkins Federal Loans. Both loans are given out to students, with the Stafford Loan the large loan.
Federal loans for students are fairly easy to qualify for. You simply apply through the FAFSA application. These loan application process is pretty straight forward. You will likely be asked to submit your parent’s financial history (if not a mature student) as well. This is so the government can determine your financial status. If the government deems you as a low income student, you will be given Subsidized student loans instead of unsubsidized. This is a better student loan because the government will pay your interest rate while you go to school.
Now, you will probably have to look at getting some other student loan funding other than federal loans. Most federal loans won’t cover the full cost of college. You can look at private student loans.
Now, there are no credit check private student loans out there, but these are bad credit student loans offered by online lenders. Regular private student loan such as the Chase Student Loan and Signature Student Loan will require a credit check. The only private student loans without cosigner will be bad credit online student loans.
Now, bad credit student loans are useful for some students who don’t have a cosigner to help them get a conventional private student loan. But be aware that you will likely pay a very high interest rate on a federal student loan – this may or may not be something you can afford. If you are interested in poor credit student loans, make sure you spend plenty of time doing some online comparison shopping between the bad credit lenders to secure the best interest rate.
No credit check student loans can give students who don’t have good credit or no credit a chance to pay for school. However, there is a big difference between federal no credit check loans and private no credit check loans, so make sure you understand the differences before deciding on what sort of loan to apply for.