A list of companies that offer a no cosigner student loan
Private lenders have been on the rise lately, in an effort to make more loan options available to students looking to fund their educational endeavors. On the whole, private lenders offer student loans on a fundamentally different principle than federally funded loans.
Federal loans are often more flexible and have flexible repayment options. Some loans come in the form of grants that don’t even have to be repaid, such as the Pell Grant.
The same cannot be said for private loans. Most of these loans operate the same way that a regular loan does – the lender requires the student to have a stable source of income and a credit score to reflect their creditworthiness and ultimately, their ability to repay the loan.
If you’re looking for exclusive private student loans with no cosigner, then here’s a comprehensive list for you:
Funding University
This is one such outlet that allows students no-cosigner loans that go up to $10,000 each school year, way higher than most banks and lenders are willing to go. The repayment, however, starts as early as a month or two into the semester. The monthly repayment hovers around $40, which most students find they’re able to comply with. Currently, Funding University operates in 11 states, and since 2015, it’s served over a 1,000 students.
Connext
Here’s one company you may not have heard of. Connext works to gather all possible funds from different lenders and non-banking organizations, including non-traditional lenders – and offer the best rate to students. These lenders often have competitive rates that fluctuate, so you’re likely to find a rate that fits you well. There are absolutely no origination fees, and the repayment options are flexible. The minimum loan you can avail is about $2,000 and the highest can go up to $100,000.
LendKey
This lender has been in the market for a while, and they offer students a myriad of options to choose from. They collect funds from a set community of lenders, this enables students to pick the best. They also offer some of the lowest interest rates out there. A unique benefit they offer to students is that upon payment of 10% of the loan, they stand to have a 1% reduction on their interest rate. You can also customize your loan upon being approved for one.
