| A good credit history is an essential prerequisite for | | | | student loans are approved after checking the credit |
| applying for a student loan. A student with a good | | | | history of a student or his parents. |
| credit history always stands in good stead to qualify | | | | Usually, a student loan with no credit history does not |
| himself for a student loan. So, it is always advisable | | | | require any income or a co-signer. But this is |
| that students who go for loans keep their credit | | | | sanctioned only for a small credit limit. To get larger |
| within limits. | | | | credit limit, the help of a co-signer is essential. Before |
| Many lenders provide loans to students with no credit | | | | taking student loans with no credit history, compare |
| history. There are two types of student loans | | | | the interest rates and the fees from different |
| namely, federal student loans and private student | | | | lenders. You can get student loans applying online |
| loans. The former are backed by the US government | | | | also. The documents needed include proof of your |
| (coming under the department of education?s federal | | | | identity, and your place of employment. It is better |
| student aid programs) and are approved based on | | | | to look for loans based on your job history. It is |
| the financial need of the student, whereas the latter | | | | advisable to have a thorough check on the terms |
| are considered as personal consumer loans. | | | | and conditions of a student loan before signing the |
| Refinancing of federal student loans is possible at far | | | | deal. |
| lower interest rates than private loans. Private | | | | |