Student Loans with No Cosigner Needed

student loans with no cosigner

Student Loans with No Cosigner Needed

Finding student loans with no cosigner is possible, but it can be difficult. Avoiding scams in your search efforts is very important. You don’t want to end up spinning your wheels and paying tons of money for application fees and frivolous processing costs. There are some legitimate options out there, but unfortunately many people get scammed so be aware.

Why are Student Loans without Cosigners Difficult?

Part of the reason it is so difficult to get student loans without a cosigner is due to the default statistics. Many young individuals are able to get large amounts of student loans and they spend the money on other things. They often don’t complete their education either, but then they have thousands of dollars they owe. They end up with very poor credit right off the bat and so will the cosigner’s credit suffer likewise.

The idea is that with a cosigner, there is someone that will be responsible with the efforts. When a parent or other adult is going to be held responsible for the loan too, they are going to talk some sense into the young student. They may be willing to cosign on a loan for $5,000 so that they can pay for college, but not $10,000 that they may have been approved for.

Scams Online for Student Loans with No Cosigner

The internet is a common place where people search for a student loan without a cosigner. They find them through search engines and there are pages and pages of them. The problem though is that not all of the information you find online is legitimate. The cloak of being anonymous there is so common that someone operating a scam will rarely be caught.

They can change the name of the business, modify the look of the website, and even have fake names and contact information on the sight. Then when someone applies for a student loan with no cosigner needed, they will charge them ridiculous fees. The other problem is that by giving personal information a student may end up the victim of identity theft. This may be the whole reason the scammer sets up the website in the first place.

Even those sites that seem to be on the up and up aren’t always so. Keep in mind that there are quite a few tools out there these days that enable someone to create a powerful looking website in just a couple of hours. The first tip off is when/if they ask you for your personal information, even if it’s a small part.

Always Investigate into Student Loans no Cosigners Needed

Find out who is offerring no cosigner student loans. Are they reputable? For example if you are applying for a Federal Stafford Loan or you are going through a private lender with a bank that is well established you are likely in very good hands. It is when you don’t know anything at all about the business that you should take the time to investigate it.

Find out all you can about that business. Make sure you look at independent reviews too. This will help you to see the personal perspectives from other consumers. If there are plenty of red flags out there about a given business then you want to steer clear of them.

Also, if you can’t find any information about advertisements for student loans with no cosigners you should be skeptical too. This could be a fly by night business that just cropped up. It could also be one that has changed names often to stay under the radar.

If it Sounds too Good to be True….

Sometimes you must trust your gut instinct about things, so that you aren’t taken advantage of on these high demand programs. Many offers for student loans with no cosigner required are scams. They prey upon innocent students that are very desperate to find funds to pay for college. Many of them the students don’t want to ask someone to cosign for them as it is embarrassing.

Others simply don’t have anyone in their life that they could ask to cosign for them. Still, they want to go to college and have a chance to fulfill their career dreams. If something sounds too good to be true though it probably is. Take your time to fully investigate any student loans without a cosigner so that you have all the facts.


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