How to Get a College Loan When Parents Can't Co-sign

Using a co-signer on your college loan application is one of the easiest ways to get approved. Parent often co-sign for their college-aged students. If your parents can't or won't co-sign your loan application, however, consider other alternatives that don't require a co-signer.

Instructions

1

Submit a Free Application for Federal Student Aid, or FAFSA. Ask your school's financial aid department for an application or go online to complete an application for federal assistance. You need to provide a copy of your parent's tax return, as well as a copy of your own return if you're employed. Submitting an application helps determine your eligibility for federal student financial aid and grant programs.

2

Look into Stafford student loan programs. This type of financial aid is available to students regardless of credit history; low-income students can generally qualify for a subsidized Stafford student loan, wherein interest doesn't accrue while they're in school.

3

Apply for a Perkins Loan to pay for schooling. Students with a greater financial need may qualify for a low-rate Perkins Loan to get a college loan without a co-signer. The U.S. Department of Education determines whether an applicant meets the criteria for such financial aid. Repayment terms on a Perkins Loan are longer than Stafford student loan programs.

4

Apply with private lenders. If you have a good credit history, go to a bank or credit union and submit an application for a nonfederal college loan. Certain institutions don't require co-signers as long as applicants meet the minimum credit score requirement for a loan; this requirement varies from bank to bank. Speak with a representative to inquire about credit requirements.