Sometimes students find themselves in a position where they cannot get a private loan to pay for college due to bad credit.

In this case, the only type of loan available to them is a private student loan without a cosigner. If you’re willing to pay the price, there are plenty of no credit check student funds available if you search online; you just need to know how to find them.

Before looking at this type of loan, consider the following:

1. You have received the maximum amount of federal student loan aid
2. You have exhausted all student grant and scholarship options
3. You have a part-time job
4. You do not have to co-sign and you have no credit or bad credit.

If you answered yes to the above, then keep reading.

There are two types of student financing you can apply for: federal financing and private loan financing. Federal financing has two different loan financings: Perkins and Stafford loans. These loans are no cosigner, no credit check, deferred loans. Simply put, that means you get a fantastic deal as a student. Even if you have very bad credit, you can still qualify for one of these loans. The interest rate on federal loans is also very low and it doesn’t matter if you have good or bad credit, all students get the same rate.

Now, federal funds can often prove inefficient in paying the full costs of your college education. If this is the case, you will need to seek private student loan financing. The thing about private loans is that they are credit-based loans. A credit check is required. If you want to get private student loans without a cosigner, you’ll need to have good credit or a cosigner. It may be possible to get private financing with bad credit and no cosigner, but the chances of getting such a loan from a reputable private lender are slim. If a lender gives you a private loan without a cosigner, expect to pay more with higher interest rates.