DannyZucker Posted July 22, 2015 Share Posted July 22, 2015 Hi there! My son is been accepted in Boston University. He will start to attend his school in September. He will need a small student loan. I would like to know what does he needs to qualify for a student loan? Link to comment Share on other sites More sharing options...
Tübingen Posted July 24, 2015 Share Posted July 24, 2015 With a co-signer, most students can get a student loan. A co-signer essentially agrees to pay the loan if the student does not. Interest rates depend on the income/credit of the applicant. Thus, if a student applies without a co-signer, they are usually either denied or given a very high interest rate (for private loans). With a co-signer you may be able to get a better interest rate (though mine have all been higher than 8% and I have amazing credit, as did my co-signer). Link to comment Share on other sites More sharing options...
GradSchoolTruther Posted August 2, 2015 Share Posted August 2, 2015 This is America. You don't need a co-signer for a federal student loan. Also, I suggest your son research the process himself, unless you're going to be paying his student loan debt. bhr and Tübingen 2 Link to comment Share on other sites More sharing options...
Tübingen Posted August 2, 2015 Share Posted August 2, 2015 This is America. You don't need a co-signer for a federal student loan. Also, I suggest your son research the process himself, unless you're going to be paying his student loan debt. The OP did not mention if the loan was Federal or Private. Private loans often require a cosigner. Link to comment Share on other sites More sharing options...
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