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How to Get a Student Loan Without Parents

For many students, their parents are active partners in helping them obtain federal student loans. However, there are some students who will need to apply for financing on their own. Federal student loan assistance is an essential service that will help them obtain a college education and go on to enjoy a lucrative career. However, federal student loan assistance comes with some caveats—and there are some conditions that you will have to meet to be eligible.

For some federal student assistance products, you will need to provide your parents' financial history such as income, assets and other information. However, without cooperative parents or parents that are present to provide this information, this would obviously be a tall order to ask of a student.

Luckily, there are options for you to apply for student federal aid without the guidance or acceptance of your parents. Read along to find out what your options are for getting a student loan without parents.

Federal Student Loans as an Independent
Believe it or not, you have the option to apply for federal student loan help as an independent. This is done by simply filling out the Free Application for Federal Student Aid (FAFSA) and answering the questions related to your dependency. It is important to note that you are not considered independent simply because your parents will not help with the process.

You will be considered an independent student if you are not declared dependent by your parents, which is entirely up to them. This is a narrow path to success for most, but still worth pursuing if applicable to you.

You will also be an independent student if you are married, have children of your own, are attending a graduate or professional program, or are serving active duty in the US armed forces.

Pursue Unsubsidized Federal Student Loans
If you want to apply for federal student loans while being declared dependent by your parents, but do not have their cooperation to apply for the FAFSA and supply their information, then you can pursue an unsubsidized student loan from the federal government. These are less desirable, since the government doesn't pay for the interest while you are in school, but they may be necessary if you are in the situation of not having cooperative parents to fill out the FAFSA information.

Apply for a Private Loan With the Help of a Co-Signer
If neither of those options are going to work for you and you want to abandon trying to get the government to help, you could pursue a private loan with the help of a co-signer. Having a co-signer such as a friend or relative could greatly increase your chances of securing college loan funding. There are many private institutions out there that would be able to provide you with a loan, especially with a co-signer.

Find Other Private Options
Even if none of these options work for you, you have options still. Your last resort could be to find a private student loan lender that does not require co-signers. These will almost certainly come with worse terms and interest rates, but for some it is a necessary measure to take in order to ensure they have access to crucial student loan lending. There are various banks that are able to offer these products, but you might be hard-pressed to find one. Be sure to check multiple offers to ensure you get the best rate.