So, you've gotten into college but are unable to pay for tuition without credit or a co-signer. Do not worry, there are many students in the same predicament. There are many ways to achieve your goals of getting an education, and not all of them require good credit or a co-signer.
Things You Will Need
Step 1Fill out a FASFA application. Even if you don't think you qualify for government aid, all colleges require this application to be completed before you can get a loan or grant. Get all income documentation, try to include income proof of up to six months.
Step 2Apply for government and private grants. Grants will most likely not cover the entire cost of tuition, but they will help tremendously. Ask your counselor or go online and search for the most commonly used private grants. Sallie mae is a great example of a grant provider.
Step 3Apply for a Perkins loan. This type of loan is given to students who have the greatest financial need. The Perkins loan has a lower interest rate and longer payback terms than the Stafford loan, but has a lower-income standard for acceptance.
Step 4Apply for the Stafford loan. The Stafford loan is a Subsidized loan given to students with low-income. The amount given by the Stafford loan is less than other loans but has a higher acceptance rate. Your counselor should be able to get you an application.
Apply for a Parent Plus Loan. Parent Plus loans are a type of loan that doesn't require the student to have a co-signer or a good credit score. You can either go online or ask your counselor about Parent Plus loans.
Step 6Apply for a privately funded student loan. Private loans are generally easier to get than the traditional loan, the problem is the interest rate. Interest rates on a private loan are typically two times higher than a regular loan. This type of loan is a last resort and should not be your first option.