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Is it possible to get a student loan with bad credit and no cosigner?

Alicia asked:

I am trying to get approved for a student loan with bad credit and without a cosigner. I had to drop 2 classes this semester because I couldn’t pay for them. If you know of any banks that I could get approved at or any helpful information about getting approved for student loans that would be great. Thanks.
Asked on: 2012-12-24 09:14:43


  1. Karen B says:

    If your credit isn’t good it is very hard to get credit, and now days with the banks the way they are it is hard to get credit with excellent credit.
    Maybe you could try to get Free Grants from the government.Go to htt:/
    There are so many avaliable to everyone. Good Luck

  2. Have you already applied for FAFSA (stands for Free Application for Federal Student Aid) and Stafford loans? Either or both of those options should have provided you with enough money to at least pay for tuition and books. If you haven’t, go to and fill out their application. You’ll need your previous year’s tax and income information, as well as your parents’ info if you are considered a dependent. After you submit your FAFSA, the government will crunch your numbers and determine if you qualify to receive any of their loans. If you don’t qualify, go to your school and fill out an application for Stafford Loans. They’re loans provided by the government and just about everyone qualifies for them.

    If you do have the Stafford Loans already and need more money, have your parents apply for the Parent PLUS loan. If they’re approved, you get more money for school. If they’re denied, you can apply for an additional $6000 a year from your Stafford Loans ($3000 a semester), but they must be Unsubsidized. Unsubsidized means that the government won’t pay any interest that accrues on your loans while your in school (with a subsidized loan, the government pays the interest for you). You don’t have to pay anything while you’re in school, but the interest that your loan accrues will be tacked onto the loan.

    Private student loans should really only be used after you’ve exhausted all of your other options – Stafford Loans, FAFSA, Parent loans, scholarships, etc. In this economy, banks are extending less and less credit, so you will probably continue to find it impossible to get approved. The best thing I can tell you to do is go down to your school and make an appointment with your school/financial aid counselor. Explain your situation and they’ll give you all the information, advice, and tips you’ll need to get more money to go to school. There are a lot of options out there for students, you just have to search really hard for them.

    Good luck.

  3. Hello Everybody,
    my name is Jason Phillips,a U.S based graduate.i know of a good money lender who loans at a minimum interst rate of 2%.He happens to be Mr.John Clarke.he is the person i owe all gratitude because he gave me loan of $50,000 to fund my education for a duration of 10yrs.
    So please if you want anything like loan please do well to contact him at

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