| Have no credit history? | | | | income since a very long time and also has been |
| When a student tells me that he or she has no credit | | | | holding onto zero defaults. |
| history, I would not be surprised. Because many | | | | Is a good credit cosigner enough? |
| people are in this stage and this is when they are | | | | Some lenders expect the cosigner to have had a |
| slowly starting to build their credit. Fortunately, the | | | | stable income for quite a few months. This |
| lenders are understanding this fact and are giving out | | | | requirement will vary for each lender and only when |
| loans to students with no credit. But this does not | | | | you provide the details to the lender that you will be |
| mean loans are giving out to students just in a flash. | | | | able to know if your loan application is approved or |
| There are requirements for the student loan approval | | | | rejected. Sometimes, lenders have rejected the loan |
| and once you meet them all, you will get the loan as | | | | application since the cosigner did not have a stable |
| fast as possible.The sole requirement is that you | | | | income for a significant amount of time. This has |
| should be able to get a cosigner who has a good | | | | happened but this does not mean it is done by all |
| credit rating. Such a cosigner will not just be able to | | | | lenders. Like I mentioned earlier, you would have to |
| fetch you a loan from a credible lender but also help | | | | submit the application to know if your current |
| you end up with the lowest interest rates. This is | | | | cosigner is fine for them. Do keep in mind that this |
| why picking the cosigner with the best established | | | | situation also applies to students who have |
| credit will help big time. When you have two choices | | | | established their credit through past borrowing |
| for cosigner, pick one who has been having a stable | | | | activities but have got a bad credit rating. |