The majority of US citizens are eligible for a government student loan if they are accepted for a college course and study at least half time. There are a few exceptions, which involve existing unpaid loans and drug convictions whilst in receipt of a loan.

Proof of financial need is necessary for students applying for subsidized loans, but is not needed for unsubsidized loans.

So, these loans are available to students who have no credit history. However, the problem that most students face is that the federal student loans have limits and this can mean that they are unable to borrow enough to pay all of their expenses while they are studying.

Alternatives loans can be taken out from private companies and many students have to do this in order to borrow the amount of money they actually need, but these usually require a credit history.

However, if you have no credit history, you can get a cosigner to guarantee your loan repayments. The cosigner is effectively agreeing to repay your loan for you if you default on payments. Obviously, the cosigner must be creditworthy to qualify and the better his or her credit score, the better the interest rates on the loan.

Parents may cosign loans for their children, but this can cause problems if the child does not repay installments on time and the parents need a good credit rating for another reason, such as remortgaging a house.

So, cosigning can be tricky unless the student has extremely wealthy relatives or friends.

Surviving financially as a student can be tough. Another source of funding is scholarships and grants and it’s a good idea to research these thoroughly before starting college.

Consolidating your student loans can help you find a comfortable way to pay off student debt – get more information here: http://www.coolercareers.com/student-loan-and-consolidation.html

Waller Jamison is a university lecturer and careers advisor who writes on a number of subjects related to higher education.