Process for Applying Student Loan With Zero Credit

There is a lot of information, which can be overwhelming. You should make sure you have the resources you need to make the best decision for your finances and future. Please take a moment to review the steps you need to follow to apply for a student loan with bad credit:

Apply for financial aid

If you’re applying for financial aid, this is the first step. When applying for financial aid, you’ll be asked to provide personal information such as your name and address as well as identifying details such as your social security number.

Your school may also ask questions about your family’s income and assets. For example, if you or one of your parents are unemployed or can’t work due to disability, that could help increase the amount of money that you receive in student loans.

Once all of this information has been gathered, it’s time to choose which loan will be applied toward paying off their tuition costs!

Take out a federal student loan

If you don’t have credit, it’s time to apply for federal student loans. Federal student loans are available to students who have financial needs and no cosigner, bad credit history or no credit at all.

All you’ll need is your financial aid award letter from your school and a FAFSA form (you can find that here). Then you’re good to go!

Find a cosigner for your private student loan

If you’re looking to apply for a private student loan, but have a low credit score, consider asking someone with good credit to cosign on loan with you.

A cosigner is someone who signs on to your debt agreement in order to help facilitate the process of getting approved for financing. With more people hoping to attend college or get an advanced degree than ever before and many struggling financially because of it, it’s important to know what options are available for those who need financial assistance but aren’t able (or willing) to pay back their loans themselves.

Financial experts like Lantern by SoFi say, “Before adding a cosigner to your refinance application, ensure that both of you are on the same page about what it means to share the debt.”

Select subsidized loans over unsubsidized loans

If you are applying for an undergraduate student loan, it’s important to know that subsidized loans have lower interest rates than unsubsidized loans. That’s because the government pays the interest on subsidized loans for you while you’re in school. Unsubsidized loans don’t have this benefit and are only available to graduate students.

If your financial situation is tight, it may be worth your time to apply anyway and see if the government will provide a subsidy based on your need. You won’t know unless you try!


The process for applying for student loans without good credit can be a bit confusing, but it’s worth doing. After all, the alternative—having no degree or struggling to pay off your debts—isn’t great either! With a little research and determination, though, you can make this happen.

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