Easy access to student loans without credit history and co-signer

Is your dream of pursuing a professional course being destroyed because of unavailability of loan? Absence of co-signer and credit history must be stopping you from applying for loan. Well, you can get a loan even at this condition; the only thing is that your options will get minimized.The tips mentioned below will help you to get easy access to loans:Search for federal student loans as most of them do not require a credit check. Do remember to fill up the free application for Federal Student Aid (FAFSA). FAFSA will help you in receiving loans as it is an integral part of securing government loans. One can also apply for Stafford loans which are specially designed for needy students. It is perfect for those who don’t have a co-signer, credit history and at the same time belong...

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Be Proactive and Secure a Good Loan Repayment Plan

Student loans are necessary when one is planning for a higher degree. Not only do they provide the student wit the peace of mind that they do not have to earn their tuition while they are studying and can focus their attention completely on their studies. Once they graduate and get a job they will be able to pay off the loans. However, the times are changing and the graduates are not as confident of getting a good job as they used to be. The job market is at its all time lowest and a number of graduates are extremely under-employed. Therefore, their loans are remaining unpaid and are becoming defaulted. The consequences that include a lowered credit score and wage garnishment among a number of others have a lasting impression on the finances of the defaulters. The best way out of a defaulted...

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Repay Loans on Time to Avoid the Consequences

The present student loan situation has often been compared to the housing loan bubble that took place some years back. A number of house owners who defaulted on their home loans had to hand over their house keys to the lenders. In the case of the student loan defaulters however there is no such chance. But they will have to face a number of other consequences that are equally bad. Given below are some of them. Wage Garnishment The lenders can get the permission to garnish about 15% of the defaulter’s wage in order to repay the loan. This will be quite a burden for those who have a low wage job and a number of responsibilities. Low Credit Score A defaulted loan means a low credit score and less chances of financial assistance in future. But in the case of a defaulted student loan the effect...

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