Obtaining a private student loan without a credit-worthy cosigner or your own positive credit history is very difficult. The following information about cosigners might help: Tips on Cosigning a Private Student Loan.
Our advice would be to try one of the following:
- Talk to the financial aid office at your school, which could help you find options for financing your education.
- Ensure that you have already maxed out all of your federal financial aid options – including loans that do NOT require a cosigner, such as Stafford Loans. This means you need to fill out the Free Application for Federal Student Aid at www.studentaid.ed.gov.
- Consider investigating alternative sources of funding for your education, such as scholarship programs, work-study, and more.
- Lastly, you may want to consider reducing the costs of your education. Is it possible to take classes part-time so you can work more? Consider transferring to a lower-cost school, or to a school able to award more financial aid. Again, your school’s financial aid office may be able to help here with a work-study job or other grant opportunities.