No Cosign Private Student Loans
I have no credit appropriate now but I have already had the aid of my parents for cosigning private student loans for my 1st semester, but they don’t want to cosign for any more loans. If I begin paying off the interest on my present student loans while I go to community college for a semester will I have a very good enough credit score to apply for my own loans for the subsequent semester or will it nonetheless be too low?
Answer by Sandhya
you may well be able to apply, but the only issue with getting a low credit score is your interest rates will be a lot greater than if you had been to cosign with your parents if they have excellent credit scores.
good luck
I don’t see why not. Private student loans cannot be wiped out by filing for bankruptcy, so the lender doesn’t take on as much risk. Expect the interest rate to be very high.