Student loan application is probably the defining moment of your adulthood. You are taking on a direct unsubsidized loan on your own, without your parents. You, therefore, have to learn as much as possible about the available loans for you to pursue your education.

Here are some of those options.


Types Of Student Loans

Federal Loans

These are loans issued by the federal government, and they do not require any collateral. The Senate comes up with new interest rates every year.

They are more flexible and do not require any credit score or for you to have a cosigner. It is the safest loan to take out since you are only required to pay after employment.


Private Student Loans

These are loans provided by credit unions and banks. They rely on your credit score to verify your likelihood of paying the loan. You require a co-signer who takes over your loan if you fail to deliver.


Refinance Loans

Banks and credit unions also provide them. It would help to qualify for this loan if you had a high credit score. Many medical students prefer this loan because their company can take up the loan on their behalf when they start working.


How To Get Student Loans Without Parents

If you do not want to involve your parents in your student loan application, the federal student loan is your best option. This is because it does not require you to have a cosigner, and it is also easy to obtain because you don’t have to present your credit score.

Alternatively, you can go for one of the other loans, refinance, or private student loans but choose another relative or friend as your co-signer. You, however, still need a high credit score to qualify for the loan.


How To Apply For A Student Loan Online

Did you know that you can apply for a direct unsubsidized loan online? The federal student loan allows for an online loan application for students; you can now do the entire process online. You can do this by filling out the provided form on their site, FAFSA.


What You Need To Apply For The Federal Student Loan

You need to present your social security number, your driver’s license, your parent’s social security number, tax return information for dependent students, and your tax returns data.

International students require an alien registration number, all your credit and cash information, and child support information if necessary.

You also need a college or university acceptance letter for an eligible program.


What Next After Student Loan Application

You will receive an award letter if you have been granted the loan, stating the amount of money awarded to you, after which you assess it and accept or re-apply for a different amount.

After that, you will receive counseling, informing you of the expectations and responsibilities that are tied with the loan.

Lastly, you receive your loan and study without any worry.


Do You Need Help?

Unsecured Loan Specialists Is The Foremost Leader In Consulting, Advising And Assisting students on how to apply for student loans online. Call Unsecured Loan Specialists for help with your student loan application.

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