Category: Student Loans

Can You Get a Student Loan With No Credit History?

Most young people who need a student loan have no credit history.This feels like Catch 22 – you need a loan because you have no money, but you can’t get one because you have no credit history.

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. Continue reading →

Is it Possible to Obtain Student Loans With Bad Credit?

If you require bad credit student loans, you have fought with debt in the past, or have not had time to get a good credit history. Both of these factors contribute to what is known as bad credit history, and acquiring student cash under both of those categories can be challenging in the best scenario.

There are a few methods you can use to make bad credit student loans possible to obtain. However, you will need assistance, as many times the solution to this style of issue involves having a co-signer help you. The first step in acquiring the bad credit student loans that you need is to acquire a co-signer with excellent credit. The co-signer takes charge of your debt, and must make certain that you pay back the finances owed. Continue reading →

We Gave You $25 Billion, Where is the Loan?

Have you heard about the possible bailouts that government is doing to help financial banks and markets to recover? I bet you did, but how can you get that loan you need.

In short, you can’t. But wait, didn’t banks receive $25 billion? Yep, they did, but not to lend! Christmas came early for some banks with government infusion. What banks are doing is to buy out smaller banks. It is easier to use government money right now to use that money for something else that loan which cannot be resold to Wall Street.

With approaching global recession banks are staying away from lending. They are simply sitting on the $25 billion loans and doing nothing.

The Treasury wants banks to acquire each other as they want not to only stabilize the industry, but to reshape it as well. If banks are buying each other, where are the money to make loans? Treasury is adding more and more money to further encourage banks to buy each other and it put tax breaks, worth billions, to banking industry with one purpose, to encourage bank mergers. Continue reading →