It is very difficult to find private student loans that don't require a cosigner, but it is not impossible. The reason why they are so difficult to find is because students usually have no credit history, which means that they are automatically categorized in the high risk group, and are seen to be more than likely to default on their loans. If you have a strong credit history, lenders will most likely give you loans with low interest rates. However, since most students have little or no experience using their very own credit card, they will more than likely have no credit. Many lenders will still give out private student loans, but only if you have a cosigner who is willing to pay back the money if you are unable to do so. If you are reading this article, you probably have little or no credit and don't have a cosigner to back you up financially. Below, I have some tips on how you can get private student loans that don't require a credit history or a cosigner. 

Before you begin your search for finding personal student loans without cosigners, make sure that you've exhausted all other options. Have you asked all your family members and friends? Make sure that they have an interest in your cause or know the benefits of cosigning on your behalf. If you plan to study in a lucrative field, you can convince people about how you may be able to help them out in the future. Personally, I live by the quote, "today you, tomorrow me." If a good friend asked me to cosign and I understood his/her goals and needs, I would do it in a heartbeat. Do not be afraid to ask for fear of rejection. In these types of matters, you have to leave your ego aside and just go for it. Finding a cosigner can save you a lot of headache and money in the long run. 

Personal Student Loans without Cosigners

Okay, you've done all you can and you still can't find a cosigner, now what? The first thing you have to realize is that without a proper credit history or cosigner, the loans that will be available to you will have high interest rates. In your current situation, it will be very difficult to find low interest student loans. This is a fact and you will merely just have to bite the bullet. Begin by applying to as many lenders for personal student loans as you can. The more the better. Be prepared to get denied and rejected left and right. You want to throw your seeds of opportunities as far and wide as you can. Hopefully some will grow.

Best Private Loan Lenders

There are a few lenders that specialize in loaning money to students who have no credit or cosigners. One of them is Education Finance partners, a company founded in 2003 and based in San Francisco. When I was attending college, I borrowed a hefty chunk from this company and was able to pay them back fully after a few years. I never had a problem with their service and although the interest rate was high, it was better than not having any money to attend an expensive private undergraduate institution. 

Campus Door is another student loans company that helps those that have no credit history or cosigners. In addition to offering solutions to private education finance, campus door also helps with designing loan products and services for school. They also work closely with your school's financial aid office to help make sure your student loans are processed smoothly and efficiently. While I do not have personal experience with this lender, I've heard good things from those who have borrowed personal student loans and utilized their services. 

The last place I suggest you to look at is Sallie Mae. Unlike the first two lenders I mentioned above, Sallie Mae is a huge company that helps over 10 million students with loans for school. One of the great things about Sallie Mae is that they are not only out to make more money. In 2004, Sallie Mae was named BusinessWeek's Top 15 Corporate Philanthropists. They have donated approximately 10 million dollars in scholarships money to help 4,000 students attend schools. The company also offers high interest loans for students who do not have cosigners. 

If you follow the tips outlined above, you should have no problem finding private student loans that don't require a cosigner.