Direct William Ford no Cosigner Student Loan Program

William Ford no Cosigner Student Loan Program

William Ford no Cosigner Student Loan Program

The William D Ford Federal Direct Student Loan Program makes it possible for many to attend college, when there is no other available funding for the college bound, especially if a student needs a bad credit no cosigner student loan. This is not a loan through a bank. It is actually a series of loans that you apply for directly at your college or university – but the loan is actually from the United States Department of Education.

This loan program includes Stafford Loans, Direct PLUS Loans, and Direct Consolidation Loans. These are low interest loans that are granted to parents or students to pay for higher education. If money must be borrowed to pay for your education, this is the most affordable loan that you could possibly get. Regardless of which type of loan or loans you are granted, you will make your application, your payments and inquiries to the William D. Ford Federal Direct Loan Program.

Of the above (3) William Ford Loan categories within the Ford Student Loan Program, only the Stafford Loans and Direct Consolidation Loans (must be FFEL and Direct Loans) can be used as a no cosigner student loan. A Direct PLUS Ford Student Loan requires good credit, therefore a cosigner would be needed if the applicant has bad credit and this would rule out this program as being a no cosigner student loan if this is the case, and it usually is.

If you change colleges or universities, and apply for more loans from those schools to continue paying for your education, these Ford Student Loans are also going through the same fund. When you transfer to a new school, your loan will transfer with you. These types of Ford loans are also the easiest to pay back, as there are numerous student loan repayment options available to you, and nothing has to be paid back until after you graduate from your degree program.

There are limits to the amounts that you can receive through the William Ford Federal Direct Loan Program. For as long as you are an undergraduate student, you are limited to $31,000 if you are still a dependent of your parents. However, if you are independent, the limit is $57,500. If your parents are not eligible for a PLUS loan, you are eligible for $57,500 as well, even if you are a dependent.

These totals follow you into graduate programs as well. If you are a graduate student, your loan limit is $138,500 for the loans for graduate programs and this includes the loans that you received as an undergraduate. With the exception of the PLUS loan, these loans are very easy to get, although in most cases, you will be required to apply for a federal Pell Grant first. It does not matter whether you actually receive a Pell Grant, as long as you apply for it. The PLUS loan is for parents, and the parent’s credit must be good in order to receive this loan.

When you get a William Ford Loan through this program, the award amount is sent directly to your school, where the funds for your tuition and fees are taken out. The school gives any overage directly to you. In order to continue to be eligible for these loans, you must be a fulltime student and you cannot be failing any subject.

If you’ve applied for federal and state grants, and you find that that you cannot find any other source of funding for your education in the form of grants and scholarships, you definitely need to apply for the William Ford Loan. Especially if you have bad credit and need a no cosigner student loan.

Detailed Information on the William D. Ford Direct Student Loans
Eligibility Guidelines for the William Ford Loan
The Basics on a Federal Direct Student Loan

First Steps for a No Cosigner Student Loan


  1. how does my daughter apply for a loan?

  2. Dave,

    you must fill out the FAFSA for your daughter to apply for any government student loans.

  3. im from the uk and i have not got a Social Security Number to fill out a fafsa what do i do?

  4. Is it possible to apply for a private loan without having a cosigner? I have good credit, ok income, and I am being asked for a cosigner. I have federal loans, but not enough to cover my tuition, and school says there is nothing else they can do.

  5. I am actually grateful to the holder of this site who has shared this wonderful post at at this place.

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