Student loans can be very difficult to obtain without a decent credit history. For most students this is not an issue because even if their parents can't pay for college they can usually act as a cosigner on a loan. But even this is starting to become increasingly rare, more and more families have become buried in debt. This has affected many credit ratings making it more difficult to find qualified cosigners on student loans.

Very few students have any type of credit rating to speak of and qualifying for a loan on their own, while always difficult, has become next to impossible with the current financial crisis. There are many institutions who have cut back giving any student loans right now. Student loans are usually considered very high risk and the default rate is very high, so banks just do not want to take the risk during tough economic times. This has increased applications at other institutions for student loans, which in turn will mean more students will be turned down for financial aid.

There are student loans available for students with bad credit and no cosigner. Of these student loans with no cosigner the Stafford Loan is in the most demand. The Stafford loan comes with very flexible repayment terms as well as very reasonable interest rates. These are loans made by the federal government and there are many different types. There are subsidized Stafford loans for very low income families or special needs families. The federal government has even tried to make loans more obtainable to students who come from middle and upper income families. This was done to try and relieve the burden placed on parents to fund the entire bill for college tuition.

The Perkins loan also offers students flexible repayment terms and very low interest rates but it is much harder to qualify for compared to the Stafford loan. There is a lot of paperwork and questionnaires to ensure you qualify as well as an interview or two. It is definitely worth the effort if you want a student loan with no cosigner.

There are some loans and grants available from state governments as well. They are usually not very publicized so students should take the time to research this or contact their local representative for details. At the state level it is mainly grants available to students but this will be different in every state.

It is definitely not an easy task to get a student loan with no cosigner but it can be done. If every avenue has failed to produce a loan then students should visit the financial aid officers at their potential colleges as that is what they are there for.