How to get a student loan with no credit
March 13, 2025 – 4 mins
Ways to get student loans without a credit history
Credit is the ability to borrow money and pay it back with interest. Lenders want to know you’ll repay them, so they check your credit history when you apply for a car loan, mortgage, or student loan. The challenge is that many students haven’t had time to build credit before starting college. Here are a few ways you might be able to get a loan without any credit.
Apply for federal student loans before private student loans
Federal undergraduate student loans are given out by the U.S. government and don’t require a credit check (though federal loans for parents and graduate students do). To apply for federal student loans, you need to fill out the FAFSA® (Free Application for Federal Student Aid) every year you attend school. It’s your ticket to grants, work-study funds, and federal loans.
According to the Department of Education, $120 billion in federal student aid is given out to help more than 13 million students pay for college and career school each year.
Pro tip:
The federal student aid is given out on a first-come, first-served basis. Make sure you submit your FAFSA® as early as you can each year (usually October 1).
Need money for college?
Consider a Sallie Mae® private student loan
- Available for online or on-campus study
- Competitive fixed and variable rates
- No origination fee or prepayment penaltyfootnote 1
- 95% of undergraduate students who’ve been approved with a cosigner were approved again when they returned with a cosigner the following yearfootnote 2
Apply for a private student loan with a creditworthy cosigner
Unlike federal student loans, private student loans come from banks and credit unions—and they require a credit check.
If you’re a high school or college student with a limited credit history, a private student loan lender may not approve your application. If you look at it from their point of view, there’s not much proof that you’ll be able to repay a loan on time—especially if you don’t have a regular salary or other financial assets.
Consider applying with a creditworthy cosigner, an individual with strong credit who can take responsibility for the student loan with you. While cosigners are usually parents, they can also be a guardian, relative, spouse, or friend.
When asking someone to cosign a loan for you, make sure you both understand what it means. A cosigner isn’t just adding their name to a piece of paper—they’re signing a legal agreement that makes them equally responsible for repaying the loan.
You and your cosigner need to be clear on who’s going to make the loan payments each month. If it’s you, and you fall behind on your payments, your cosigner’s credit score may be affected.
Being a cosigner is a serious commitment, but it doesn’t need to be a lifelong one. Many private student loan lenders let you apply to release your cosigner after you’ve proved you can repay your loan responsibly with a certain number of on-time payments.
Explore other ways to pay
Maximize your federal student aid by completing the FAFSA® (Free Application for Federal Student Aid) every year you're in school. And don’t forget to apply for scholarships—it’s free money you don’t have to pay back. The more aid you get upfront, the less you need to borrow later.
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