Best Student Loans Without a Cosigner of July 2026
A cosigner is someone with stronger credit, such as a parent or another trusted relative, who agrees to be responsible for a loan if the borrower can’t repay it. So if the loan goes into delinquency or default, both you and your cosigner face financial consequences. This decreases the risk for student loan providers, making it easier for students to obtain a loan.
Absolutely. In fact, you should fill out the Free Application for Federal Student Aid form – which qualifies you for federal student loans, grants and work-study opportunities – before exploring your private student loan options. Most types of federal loans don’t require a cosigner.
Federal student loans have traditionally been the best option in almost all situations. They may offer a much lower interest rate because eligibility isn’t based on your credit score or income. They also offer a variety of repayment plans, loan forgiveness programs and hardship options, giving borrowers more flexibility and protection.
Starting in July 2026, though, there will be significant changes to the repayment options and protections offered under the federal student loan program as the result of a new law. Make sure you understand how these changes will affect your borrowing options.
Pros
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Increased borrowing access for some students. Not everyone has a trusted friend or relative with good credit who is willing to act as a cosigner.
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You assume sole responsibility. Getting a loan without a cosigner means no one other than yourself is burdened to repay it.
Cons
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You may qualify for less. Without a cosigner, you’ll probably be offered a lower loan amount.
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You’ll pay more. If you have a limited credit history or income, you may still qualify for a loan, but you will most certainly pay a higher interest rate without a cosigner.
Apply for a Federal Student Loan
- Fill out the FAFSA. You’ll have to provide personal information, like your Social Security number or alien registration number for noncitizens, and gather required documents, including bank statements and records of net worth from investments. Dependent students will need their parents or guardians to provide information as well.
- Review the financial aid offer your college sends. This letter outlines your financial aid package. Your school will explain how to accept all or part of the offer.
- Accept your offer. If your aid package falls short of the estimated cost of attendance, you might want to consider other options, like private student loans.
Apply for a Private Student Loan Without a Cosigner
- Make sure your credit is in order. You can request a free copy of your credit report on AnnualCreditReport.com. Read through it, and be sure to report any errors. Many financial institutions allow you to check your credit score for free, but keep in mind that the score they provide might not be the same one your lender uses to determine your eligibility. If you can, spend time improving your credit profile. That could include paying down any existing debt.
- Find student loan companies that do not require a cosigner. Several advertise this offering.
- Verify requirements from potential lenders. Lenders often require a minimum credit score in the mid-600s. You may also need to show a minimum income and a certain length of credit history. If you haven’t established credit, some lenders will evaluate your application based on alternative factors, like your school, major and GPA.
- Compare student loan offers. Lenders generally let you prequalify with a soft credit inquiry, which doesn’t hurt your credit. That way, you’ll be able to see whether you’re likely to be approved and what your terms could be. Do this with all the lenders you’re considering.
- Apply. Upload your verification documents, which likely include a photo ID, your financial aid award and your tuition bill. The lender will make a hard inquiry on your credit, which could temporarily hurt your credit score.
- Sign and approve. Sign your final loan documents. Once you sign, before the school year starts, money will be disbursed to your school.
Here are factors to consider when choosing a student loan with no cosigner:
- Types of private student loans. In addition to undergraduate, graduate or parent loans, lenders may have special loan programs focused on medical school, half-time or vocational school students.
- Loan terms. Your loan’s term is how much time you have to repay the debt. Loan term lengths vary by lender and typically range from five to 20 years. Short-term loans may have a lower interest rate but require a higher monthly payment. A longer repayment term could mean lower monthly payments but higher borrowing costs over time.
- Interest rate. This indicates the percentage you pay on top of your principal. Your interest rate greatly influences the cost of borrowing, so try to get the lowest interest rate possible. The lowest advertised rate may only be available to the most creditworthy student loan borrowers.
- Eligibility requirements. If you don’t meet the lender’s minimum credit score, income and employment requirements, try another lender.
- Other loan costs and discounts. You may need to pay application and origination fees – and if you don’t stay on top of payments, late fees. That said, you could also qualify for a rate reduction if you set up auto pay or have a good GPA.
- Loan limits. Private student loans often have minimum and maximum loan amounts.
- Repayment plans. Your repayment terms may defer your payment completely until after you graduate or leave school, allow you to make interest-only payments while you’re in school, or require a fixed monthly payment while you’re in school at least half time.
- Discharge and hardship options. A discharge benefit cancels your debt if you die or are permanently disabled. Some lenders offer hardship options to student loan borrowers that let you put your loans into deferment or forbearance, periods when you don’t need to make payments. Other hardship offerings may include a temporary interest rate reduction or monthly payment reduction.
- Customer service ratings. Read student loan reviews and ratings before you commit. You can find student loan reviews online and browse comparisons and recommendations for some of the top private student lenders.
Student loan interest rates slightly decreased last month, according to a U.S. News analysis of minimum and maximum APRs reported by private lenders. Student loan rates have trended higher over the past year, with variable rates climbing by a higher margin than fixed rates.
Here are the in-school student loan rates offered during the month of June 2026:
- Average fixed APR range: 3.60% – 15.12% (Compared with 3.77% – 15.14% the previous month).
- Average variable APR range: 5.14% – 14.60% (Compared with 5.31% – 14.77% the previous month).
The APRs on the lower end of the range are generally reserved for applicants with a high credit score and low debt-to-income ratio, while those with poor credit or limited income will see higher rates.
If you don’t have the credit history needed to qualify for a competitive student loan rate, consider enlisting the help of a cosigner. Additionally, shop around with multiple student loan lenders to ensure you’re getting the lowest possible rate for your financial situation.
Many financial institutions don’t require a cosigner for their private student loans. Be sure to shop around to ensure you get the best rate and terms.
You can qualify for federal student loans without a cosigner, even if you have bad credit, but getting approved for a private student loan could be a challenge. Applying with a cosigner may improve your chances of getting a loan and securing a more favorable interest rate.
Students with no credit history may qualify for private student loans without a cosigner in some instances. For these students, some lenders consider factors such as GPA, year and program when determining loan eligibility.
If your scholarships, grants and federal aid won’t cover your costs, you may need to take a step back. Here are a few strategies to consider:
- Attend a less expensive school. Taking care of your general education requirements at a community college and then transferring to a four-year college or university may be a cheaper way to finish your degree.
- Talk to the school’s financial aid office. If you’re looking for additional funds because of a change in your or your family’s financial situation, reach out to the school’s financial aid office. You may qualify for additional loans, grants or work-study awards.
- Cut back on educational expenses. If you’re close to having enough savings and financial aid to pay for school but still have a small gap to fill, you may be able to cut expenses rather than find more aid. Consider living with roommates or moving off campus to pay less for housing. You can save on textbook costs by buying used books, renting them or using free reference copies at the library. Setting up a budget can help you find areas where you can reduce your spending.
- Take a gap year to start building credit and savings. If you’ve been admitted to a school but can’t afford it, you could ask to take a gap year to work and build your finances. Check whether your school will defer your admission for a year.
