where can i get a loan that doesn't do credit checks?

Question

I am going back to school, so I wanted to know where can I find a loan online that will not do a credit check or is credit based. (non credit-based loan student loans)

Answer 1

I disagree with the first answer from missi - you do not have to go to school full time to get federal student loans. You would qualify for the unsubsidized and subsidized direct loans from the William D. Ford loan programs or ones funded thru Chase, SallieMae, or any other loan program that does sub and unsub loans for the federal government whether or not you were going to school full time or part time. You can also apply for sub and unsub loans thru SallieMae.com or Chase. The best thing to do is to check with your school's federal aid advisor.

Answer 2

There are two types of Federal Student Aid that do not entail a credit check: the Federal Stafford Loan and the Federal Perkins Loan. Your school is not permitted to check your credit as a condition for offering you these funds. It's important to note that just because a loan is *federal* doesn't mean that it will be non-credit-based. Federal PLUS Loans, for example, will require a credit check.

Some state agencies offer low-interest or no-interest non-credit-based student loans to their neediest students/residents. However, these aren't typically loans that you can actively apply for -- you will usually be notified of your eligibility by the state, the school, or both. These funds are usually offered alongside other state aid like state grants and state scholarships. Example: the Massachusetts No-Interest Loan.

Occasionally, you might see a private organization offering an interest-free loan, but these will generally be awarded on a competitive basis like private scholarships.

The types of private loans that you will find online will undoubtedly require a credit check -- that's what private lending is all about. Frankly, if non-credit-based private student loans were readily available, there wouldn't be so many people on Y!A asking the question "Where can I get a loan if I have bad credit and no co-signer?" Credit is a requirement for almost everything these days, from home loans and car loans to credit cards, etc...

I wish we could give you a better answer but the truth is that non-credit-based loans don't really exist outside of the two federal programs I mentioned... and if a lender *is* willing to lend you money without looking at your credit, s/he will be doing so at *tremendously* high rates. You're much better off looking for a loan that is credit-based but that doesn't have very strict credit criteria (like Campus Door).

{To respond to the "argument" that appears to be going on between the answerers above me: you don't have to be enrolled full-time to obtain a Federal Stafford loan, but you do have to be enrolled at-least-half-time. "Half time" for undergraduates is defined as 6 credits. Perkins loans, on the other hand, don't have this stipulation, and your school can elect to offer you Perkins (usually a pro-rated amount) even if you are less-than-half-time.}

Answer 3

Federal student loans are not credit based. If you apply for a student loan through the federal government for an accredited school, they only take into account whether you are going to school full time.

You can apply on the website www.fafsa.gov

Answer 4

you can get fincial aid which they pay full tuition and books .. check it out at fafsa.org

Answer 5

Try the Mafia.