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Can You Get Private Student Loans Without A Cosigner?

Can You Get Private Student Loans Without A Cosigner?

Submitted by • September 2, 2011

The theory is that it is probably fairly easy to get private student loans without a cosigner, but the reality is that this rarely occurs in the real life since most student borrowers have little, to no credit history.

No lender in their right mind will ever approve a student who has no credit history, or bad credit, and this is why a cosigner is needed most of the time for an approval to be handed down. Having a creditworthy cosigner will almost guarantee an approval at the most private lenders,and can hasten the process of applying for a individual student loan by leaps and bounds.
Having a cosigner can also permit you to become eligible for the lowest available rate of interest, as most private student loan lenders will conform your rate in accordance with the strength of your application, and particularly your credit position.
The bottom-line is that it is clumsy to apply for a private student loan without a cosigner if your credit isnt where it should be,and by getting a cosig

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Voted by neel001

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