Private Student Loans No Cosigner are FFEL Stafford Loans

Private Student Loans No Cosigner

Private Student Loans No Cosigner

When it comes to college students looking for some private student loans no cosigner involved, the FFEL Stafford Loans are a perfect option today because credit is not an issue to qualify; therefore the college student can just sign up themselves for their student loans, with no cosigner needed anymore. This is an especially good alternative if the student has bad credit, can’t get a cosigner and needs a student loan. Let’s take a closer look at the FFEL Stafford student loan and how it’s perfect for student loans no cosigner involved.

Paying for your education can be difficult and there are many options. FFEL Stafford Loans are one option, but of course, you want to use all of the options that contribute financially to your education, without having to be repaid first, such as scholarships & grants – but for most students those options will not be enough to cover the entire cost of your college education. Here is what you need to know about applying for and receiving FFEL Loans – the perfect direct or private no cosigner student loans.

There are two types of Stafford Loans – FFEL and Direct. Essentially, these two different loans are the same, in terms of how much is awarded, how you are eligible, and how the loan is repaid. The only difference between the two is that a direct loan comes from the United States Government and an FFEL loan come from a private lender. Even though the FFEL Stafford loans come from a private lender, credit is not an issue, as the loan is guaranteed by the government. This is why the FFEL is a perfect for private no cosigner private student loans. Generally, the only reason that you would get an FFEL loan instead of a direct loan is if your school does not participate in the Stafford Loan program.

To apply for an FFEL loan, check with your financial aid office to see if they have an application available. Usually they will, even if they don’t participate in the program. The application you need is free, and it is called the Application for Federal Student Aid (FAFSA). If you’ve already received this type of loan before, and you simply need to renew it, you need the Renewal FAFSA form.

Typically, your school will review your application, if they participate in the Stafford Loan program, and will notify you as to whether or not you are eligible. If your school does not participate, you can get the name and address of private lenders in your area that do participate in the program, and take your application directly to them. This is not the end of the application process.

The next form you need, once your eligibility for the loan has been established, is the FFEL Stafford Loan Application and Promissory Note. This will normally be sent to the appropriate office by your school or lender. When you’re no cosigner student loan is approved, the funds will be sent directly to you – not your school – from the private lender. Direct loans are sent to the school first.

Upon receiving your FFEL Stafford Loans funds, it is your responsibility to use those funds to pay for your education. The funds can be used to pay for anything that has to do with your education, such as tuition, fees, books, supplies, computers, housing, food, transportation and even gasoline. Again, it is your responsibility to make sure that the funds go directly to expenses related to your education.

FFEL Stafford loans have different repayment options, but usually payment is deferred until six months after you have graduated from college – unless you go on to graduate school. It is also important to note that whether you need an FFEL loan or a Direct loan, the same application is used – the only difference is whether your school participates in the program or not.

FFEL no cosigner private student loans are a boom for students, all the more if the student is anchored with bad credit. The whole process can all be done by the student themselves too, which makes looking for ‘student loans no cosigner‘ a mute point. This is all the better if the student can’t get a cosigner for the student loan, which is more times then not. When thinking private student loans no cosigner, think the federal FFEL Stafford student loan program. It’ a perfect fit!

Student Loans for People with Bad Credit

First Steps before a No Cosigner Student Loan

Alternative Student Loans before Student Loans with no Cosigner


  1. Repay Student Loans Guidelines | - pingback on January 13, 2010 at 12:23 pm
  2. Where is the application to aply for this no cosigner/bad credit loan?

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