12.15.09 | What makes me eligible for a private student loan?
If you are considering applying for a private student loan in the near future you might be wondering what makes you eligible for this type of loan.
Your School
In order to obtain a private student loan you must attend an eligible community college, traditional two or four-year college or university, or eligible graduate program at least half time. Your school will have to certify the loan for you.
Your Credit Score
You and your cosigner will both need to pass a credit check in order to be approved. Lenders typically prefer that their borrowers have a credit score of 650 or higher. It is not always required that you apply with a cosigner, but having a credit worthy cosigner can increase your chances of being approved and potentially get you a lower interest rate.
Your Residency Status
You and/or your cosigner must be a US citizen or permanent US resident. You and your cosigner will also both need a valid social security number.
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Thank but i better play it safe and stick with scholarships and grants. But very Helpful thank for the knowledge.
January 14th, 2010 | #
I’ll definitely consider this for my school tuition.
January 10th, 2010 | #
NEVER apply for student loan, it will took forever to pay it back, just go with scholarships and grants
January 10th, 2010 | #
This site had some good info. I might to put it into uses if I need to.
January 10th, 2010 | #
This article had so many facts.And I would like to say that even with good credit score and being a citizen i was offered high interest rate for my student loan. So I wonder how to get a low intrest rate in future.
January 8th, 2010 | #
It was very helpful and thanks =)
January 8th, 2010 | #
Helps you know to keep good credit
January 8th, 2010 | #
I never knew this, this information was helpful.
January 8th, 2010 | #
WOW…i will deff use this info.
January 7th, 2010 | #
Now I only had a credit score
January 7th, 2010 | #
Thats cool
January 7th, 2010 | #
I will use this information to my advantage. thanks!
January 7th, 2010 | #
This was interesting
January 7th, 2010 | #
Never thought about it, nice to know.
January 6th, 2010 | #
This information is very helpful, Thanks.
January 6th, 2010 | #
interesting…
January 5th, 2010 | #
Since I don’t have a credit card yet I’ll have a parent be the co-signer of my private student loan so it makes me eligible.
January 5th, 2010 | #
That’s interesting.. I am going to have to find a good co-signer. Scholarshippoints.com be my co-sign!
January 5th, 2010 | #
A loan? Not a bad idea
January 5th, 2010 | #
Very helpful information
January 5th, 2010 | #
This was very helpful information for my future experience in college!
January 5th, 2010 | #
what happens if you can’t get a co-signer
January 4th, 2010 | #
it’s h
why do you need a co-signer
January 4th, 2010 | #
I agree. but also very fraustrating about some lender require you to earn certain amount of money to qualify for private student loan. As we all know – its quite difficult for full time college students to earn money when we all so busy with school works.
January 4th, 2010 | #
oh man a cosigner?
January 4th, 2010 | #
federal are better no intrest till till you grad
January 4th, 2010 | #
federal are better you dont have pay intrest till you levae
January 4th, 2010 | #
these tips are very helpful if you want a loan.
January 4th, 2010 | #
i need one to
January 4th, 2010 | #
I didnt know, thanks for the info.
January 4th, 2010 | #
Helpful information, but where can I find a worthy co-signer?
January 4th, 2010 | #
pretty helpful.
January 4th, 2010 | #
i dont want a loan
January 4th, 2010 | #
cosigner? i want one
January 4th, 2010 | #
ah, very interesting
January 4th, 2010 | #
wish i had a good credit score!
January 3rd, 2010 | #
this is great info it will help alot!!!!!!!!!!!1
January 3rd, 2010 | #
That was helpful.
January 3rd, 2010 | #
I want to try and avoid student loans if possible but this was intresting to know i will remember this info
January 3rd, 2010 | #
Very helpful. Glad I took the time to read this. I am looking into private loans, so this will help me along the way.
January 3rd, 2010 | #
the school i am attending is not accepted. Now what am I to do?
January 3rd, 2010 | #
all the important stuff you need to know simply placed on one page… very convenient
January 3rd, 2010 | #
I didnt know about these loans…thanks for the info!
January 2nd, 2010 | #
I really appreciated the information about the private student loans. I will be sure to pass on the word to my other family members that’s enrolling for school.
January 2nd, 2010 | #
verry helpful!
January 2nd, 2010 | #
I wish someone would cosign for me :/
January 2nd, 2010 | #
cool!!
January 2nd, 2010 | #
So what I’m getting from this is that I need to get a credit card in order to get a credit score very soon…
January 2nd, 2010 | #
this is really helpful, thanks!
January 2nd, 2010 | #
This is good info!
January 1st, 2010 | #
sounds great!!!!
January 1st, 2010 | #
credit score is the most important
January 1st, 2010 | #
Interesting
January 1st, 2010 | #
Was not aware that they looked at your credit report.
January 1st, 2010 | #
very helpful.
January 1st, 2010 | #
Happy to find out your credit determines your ability private loans
January 1st, 2010 | #
cool
January 1st, 2010 | #
i don’t want any loan…
December 31st, 2009 | #
excellent tips: i was wondering about this just the other day
December 31st, 2009 | #
These are extremely helpful tips. im glad i read it.
December 31st, 2009 | #
These are extremely helpful tips.
December 31st, 2009 | #
good info, interesting to learn all of this
December 31st, 2009 | #
it is very helpful information but Iam a Tanzanian,May i win
December 31st, 2009 | #
Very helpful information but I wish i has a consignor
December 31st, 2009 | #
interesting
December 30th, 2009 | #
Very helpful
December 30th, 2009 | #
mannnn…i wish i has a co- signer. ugh…
December 30th, 2009 | #
Thanks for the inforation it was greatly apprieciated and helpful
December 29th, 2009 | #
Good Info!!!
December 29th, 2009 | #
interesting..
December 29th, 2009 | #
Why do they make you get a cosigner
December 29th, 2009 | #
right on
December 29th, 2009 | #
GOOD INFORMATION!
December 29th, 2009 | #
was not aware that credit scores mattered
December 28th, 2009 | #
was not aware credit scores mattered
December 28th, 2009 | #
was not aware that your credit score mattered
December 28th, 2009 | #
Sometimes life leaves you no choice but to get a loan. This was very helpful.
December 28th, 2009 | #
I took private loans before and I really don’r wnat anymore
December 28th, 2009 | #
What are the current rates of interest for 1st time credit card owners?
December 28th, 2009 | #
thanks but i need scholarships!
December 27th, 2009 | #
I don’t want loans because it would get troublesome trying to pay them off. I have definitely written the website down and will share this info with others.
December 27th, 2009 | #
I know many are concerned with graduating & still owing for college but you have to realize that in the long run – you are much better off owing $ than Not graduating from college.
December 27th, 2009 | #
This was very helpful this may be my last resort to use, I can’t handle too many more things to pay back.
December 27th, 2009 | #
Good info, thanks
December 27th, 2009 | #
Try being a non-traditional student that lost a business from the republican feeding frenzy and apply for a private student loan.
December 25th, 2009 | #
Good info, thank you.
December 23rd, 2009 | #
I’m not one who wishes to get a loan. I hear so many stories of people who are now bankrupt because of loans. I’m looking for scholarships! (Which are hard to find, on the count that I’m an Asian.)
December 23rd, 2009 | #
very helpful, it’s good to know what type of credit score they are looking for!!
December 22nd, 2009 | #
nice
December 22nd, 2009 | #
Good info!
December 22nd, 2009 | #
interesting info
December 21st, 2009 | #
thanks for the help!
December 21st, 2009 | #
id rather not get student loans
December 20th, 2009 | #
thanks for the advice. Very helpful!
December 20th, 2009 | #
thanks for the advice! very helpful!
December 20th, 2009 | #
thanks for the advice!
December 20th, 2009 | #
this is helpful
December 19th, 2009 | #
It was very helpful information. I’m wondering if the private loans have the same pay-back regulations as the federal loans.
December 19th, 2009 | #
Interesting.
December 19th, 2009 | #
good info to know
December 19th, 2009 | #
Thanks for the information it was Helpful
December 18th, 2009 | #
information about the community college and the credit score info was very helpful
December 18th, 2009 | #
I prefer not to have to get a cosigner on a loan with me and in today’s economy it is rather difficult to have a FICO of over 650. But thank you for the advice.
December 18th, 2009 | #
really? your credit matters when applying for private loans? what if you’re just a student with no credit. what happens then?
December 18th, 2009 | #
While do they call it a students loan?.the person that your co-signer is the reason you get the loan.There are not many 18 year old that can get a student loan by them self. We need to rename the name from students loan to something else
December 17th, 2009 | #
I don’t want to take out loans but if i do, i will remember this info.
December 17th, 2009 | #
thanks!
December 17th, 2009 | #
Interesting.
December 17th, 2009 | #
Somewhat helpful, but fails to mention interest rates, lenders, or why this option is better/worse for students.
December 17th, 2009 | #
i dont have credit just yet
December 17th, 2009 | #
Very helpful but parents wont let me even consider that option
December 17th, 2009 | #
Niceee (:
December 17th, 2009 | #
This is good to know
December 16th, 2009 | #
Thanks for the tip
December 16th, 2009 | #
My ma already said no lol
December 16th, 2009 | #
yes, this is intresting i’m considering this.
December 16th, 2009 | #
never knew your credit determines your ability for private loans
December 15th, 2009 | #
nice.
December 15th, 2009 | #
Very interesting.
December 15th, 2009 | #
i wish i had a co-signer
December 15th, 2009 | #
That’s interesting…
December 15th, 2009 | #
IT WAS HELPFUL INFORMATION
December 15th, 2009 | #