<p>Hi everybody i have a question about if it is possible for me to get a student loan. I am going to be a sophmore in the fall, and am interested in financing my education(to what extent, im not so sur right now) through student loans. I already have a stafford loan but that really isnt enough. The problem i have is that i dont have a credit history. I worked this summer, and have a credit card that is not activated. How long do u think is necessary to develop a credit history significant enough to get a student loan without a cosigner. Will charging 40 dollars a month on my credit card then paying in full be enough to get a loan? And if do you believe i will be able to get a loan in time for next fall? Also if this is completly impossible, is it possible to sign a loan with a cosigner and then refiance without one as soon as my credit is good enough? Thank you all very much for your time</p>
<p>They would give student loans out to bums if they had a permanent address. If you are over 21 you can usually get them with no cosigner, not sure about under 21.</p>
<p>For building a credit rating, you don't <em>wan't</em> to pay it all off every month. That doesn't build credit. Make a purchase that you can take three months, six months, to pay off, pay it off, then make another. Buy only stuff that you seriously need anyway, not food, music, etc.</p>
<p>jdm2008 - for you to get a co-signed student loan is not difficult - all you need is a person - even a parent can do this - but it will be in your name. Not sure what state you are in - in NC it is called an EXTRA loan - even if your parent does not qualify for a PARENT PLUS loan - they still may qualify (most likely will) as a co-guarenter for you on a student loan.</p>
<p>Good idea to talk to the financial aid department and ask who their preferred lender is and go with them - easier all around usually.</p>
<p>opennet.salliemae.com</p>
<p><a href="http://www.salliemae.com%5B/url%5D">www.salliemae.com</a></p>
<p>You should be able to get a Signature Student Loan very easily, even with little to no credit. I wasn't 21 when I took my first loan out from Sallie Mae. I'm not sure what my credit stance was--I did build some from using two credit cards and I did have some Federal loans in my name, but that was about it.</p>
<p>A student signature loan is based on the fact that the student has NO credit - thus needing the guarentor - they are a very common type of student loan and not that difficult to get.</p>