I would like to know if there are loans that are like the Federal Stafford Loan? (NO credit check) One that also works with private schools?
No, but the Sallie Mae Tuition Answer loan (www.tuitionanswer.com) is VERY easy to get approved for on a stand-alone basis, I got my loan from them when I was 19 with no co-signer. They send the check directly to you to pay your school fees and such. They do work with Private schools, so that doesn’t matter. I would apply for that, if you get declined then seek a co-signer, or switch to a cheaper school.
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Consolidating student loans is a practical repayment tool that bundles all your federal school loans into one loan, significantly reducing your monthly payment. To calculate your monthly savings, try our student loan consolidation calculator. StudentLoanConsolidator.com offers private student loan consolidation in addition to federal student loan consolidation.
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No Credit Check but they do see if you qualify in income bracket most do..
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Student Loans Where No Credit Check is Necessary
Your Credit History Affects Lending
If you have no credit established, as is the case with most new borrowers and college-age students, it does not necessarily preclude you from borrowing money toward college. No credit is typically better than bad, but many institutions require co-signers for either situation.
Before we explore credit-based student loans, let's look at what you already have available that requires no credit check at all:
Federal Stafford Loans, subsidized and unsubsidized
Federal Perkins Loans
other government and state-funded loans
Pell Grant and other government grants
private grants and scholarships
Grants and Scholarships Require No Credit Check
The federal Pell Grant has limited uses. Only students who are the neediest receive Pell Grants. However, there are countless other sources for grants and scholarships. These programs require no credit checks. Scholarships are often awarded on merit and grants on need.
Check with your state government's education fund. Many states offer a slew of specialized grants and scholarships you may be eligible for.
Pursuing a special degree such as business or health sciences? Many organizations and professional societies offer valuable grants and scholarships for students who will pursue certain professions. For example, nurses continue to be in short supply and in answer to the impending shortages, the government and private organizations offer nursing students grants, scholarships and student loans, in return in most cases for service in medically underserved areas. The same may be true of students studying to be teachers.
Federal Loans
The first loan any student should apply for, credit or no credit, is the Stafford Loan. Any financial aid advisor should tell you that. The subsidized Stafford Loan is designed for only the most financially needy students. And the government picks up the tab for interest repayment until the borrower has graduated and assumes normal repayment of the loan.
The unsubsidized Stafford Loan is also a non-credit based loan, but this "flavor" of Stafford loan is open to any type of student regardless of financial need. In the case of the unsubsidized Stafford loan, students are responsible for all interest that accrues.
The challenge with the Stafford loans is that in most cases the amount awarded is meager. For this reason the business of alternative student loans (credit based) has become big business, along with the consolidation loans necessary to keep borrowers from delinquency and default. Read more on Stafford Loans.
The Perkins Loan is awarded to students who prove the greatest financial need and offers annual loans from $1,000 to $4,000 and a nine month grace period following graduation. Awards provided by Perkins Loans are typically a combination of government funds and funds from the college to which you are applying.
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The title says it all, I need to find a place to get a no credit check private student loan for living expenses.
no way. banks want their loans repaid and if you're a bad credit risk, they aren't interested or would charge you a lot more interest.
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a person said"For example, California residents will be able to apply for a California no credit check student loan and Florida residents for a Florida no credit check student loan"
this true
not in NC. when I got my loan from the state bank they did credit checks.