| Have you ever heard of personal student loans with | | | | record. Most financial institutions would insist on you |
| no credit check? If I say such a loan exists, all you | | | | having a good repayment record for at least 6 |
| students have a bad credit history would be jumping | | | | months. When you apply for a consolidation of these |
| up and down at the prospect of availing these cash | | | | loans with Bank C, they would take into count your |
| advances. In essence, when you know the answer | | | | repayment history on the loans provided by them. If |
| you could well be disappointed. The reason I say this | | | | all the repayment records are good, you can consider |
| is because I know the process for application and | | | | that your personal student loans would be passed |
| approval for such loans. I guess it is time that you | | | | without a credit check. That said, the decision to do |
| know the reality behind these types | | | | a credit check on every student loan is on the |
| What is the reality on personal student loans with no | | | | discretion of the bank. |
| credit check? | | | | What is a Payday loan? |
| In reality, any loan application would need to be | | | | Payday loan is another type of credit that is |
| scrutinized by the financial institution providing the | | | | approved without your credit being checked. Most |
| credit. The loan application would need to be checked | | | | financial institutions offer this loan to individuals who |
| against the credit records of the applicant. Only if the | | | | are in dire need of money. Approved up to the |
| applicant or the co-signer of the applicant has a good | | | | amount of $1500 per application, the amount is |
| credit score will the loan application be approved. | | | | directly applied to your savings account. Essentially, |
| In such a scenario, the only other eventuality where | | | | this type is also known as cash advance loan and has |
| you would get personal student loans with no credit | | | | its own set of requirements to be complied with. |
| check is when you consolidate your borrowed | | | | Now that you know you would get personal student |
| money. There is a caveat attached to this case as | | | | loans without any credit check, you should heave a |
| well. Let us understand the concept with an example. | | | | sigh of relief. That said, it does not give you a free |
| Let us assume you have taken loans from Bank A, | | | | hand to misuse the loan being provided to you |
| Bank B and Bank C. You can apply for consolidation | | | | without any credit check. |
| of these loans only when you have a repayment | | | | |