If you’re a student looking to get back into education, then you might have to consider student loans. 70% of all students that enroll in college today, have to rely on a loan – private or federal – to pay off part of, or most of their tuition costs.

Education costs only keep increasing. This is why qualifying for either a personal loan or a federal one – or both – is a great way to offset your cost of education. Also, if you have had time to set up a credit history and a good credit score, then it’ll be easier for you to get approved for a student loan with no cosigner.

Student loans with no cosigner aren’t plenty, but they’re definitely there. It’s also highly unlikely that students will qualify for a private loan without a cosigner – because its unrealistic for students to be expected to have any credit history, let alone a good one.

But there are a few other ways to avail student loans with no cosigner.

The different types of student loans
There are a few federal loans that qualify as no cosigner student loans. As you may already be aware – federal loans require a FAFSA application which is completely free of cost. These loans are awarded on many factors and financial need is above all.

Direct Subsidized Loans and Perkins Loans are two kinds of federal loans that are offered to students without a cosigner. Both these loans come with low-interest rates and very flexible repayment options. The former loan is unsubsidized and awarded such that the government pays the interest rate of the loan. One does not need to demonstrate a high financial need to qualify for this loan.

Perkins loan, however, is rewarded based on extreme financial need, and is a kind of subsidized loan.

Private no-cosigner loans
You will definitely struggle to find a private loan that is offered without a cosigner – especially if you have no credit history or score to speak for you.

College Ave is one such student outlet that provides private student loans through a number of banks. Their process is simple, and the loans they offer cover both undergraduate and graduate students. The loans are also highly customizable, in that the student has the freedom to pick their tenure for repayment and the terms for the loan.

Most other personal loan outlets require either a cosigner or a credit score – so if a no cosigner student loan is your priority, then it’s best to stick to a federally funded loan.