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No Credit Check Student Loans

Getting an education is expensive. In fact, the average cost of obtaining a post secondary education has grown 439% over the past 25 years. There is an enormous amount of pressure being placed on families and students to come up with creative ways to attend college.

Some are electing to place education on hold while they enter the workforce in an effort to pay tuition and fees outright; however, this is not always a practical solution. Many students and parents are turning to financing their educations, but not everyone qualifies for a private education loan due to credit blemishes. So, where can students turn if they have bad credit?

The answer is, to the Federal Government. Thatís right. The government provides low interest loans to students without the hassle of credit checks in the form of Federal Stafford Loans.

An unsubsidized loan through the Stafford Loan program guarantees students educational funding regardless of their credit profiles are actually cheaper than traditional education loans through private lenders. A subsidized loanís interest rate is even better.

Qualifications for the Federal Stafford Loan are:

  • Students must enroll in a post secondary institution and attend at least half time hours
  • Students must have submitted a FAFSA (Free Application for Federal Student Aid)
  • You must be a U.S. citizen or legal resident of the United States
  • Your college of choice must participate in the Federal Family Education Loan Program
  • Students must not be in default on any other federal education loan
  • Students applying for subsidized loans must demonstrate a financial need

Loan Limits

No Credit Check Student LoansThere are no credit checks or collateral requirements, however, there are limits. Entering dependent freshman can obtain $5,500 in federal student loans per year, sophomores up to $6,500 and upperclassmen (juniors and seniors) up to $7,500 per year). A dependent student is someone that can be claimed as a dependent on someone elseís taxes, such as a parent.

Independent students can borrow more. For example, entering independent freshmen can borrow up to $9,500, sophomores up to $10,500 and juniors/seniors up to $12,500. Independent graduate students can also borrow under this loan program, up to $20,500.

And there are lifetime maximums as well. An undergraduate dependant student can borrow up to $31,000 in his or her lifetime, while independent students can borrow up to $57,500 and grad students up to $138,500.

Application Process

You will need to complete the FAFSA. This can be accomplished online at Once your application has been submitted, you will then have a series of decisions to make. These include:

  • How much should you borrow?
  • Who should your lender be?
  • The amount you borrow will depend on how much you receive in other aid such as a Pell Grant or college specific aid. Your lender choice is strictly personal as all Stafford Loans are pretty much the same.

In order to apply, you will need your:

  • Social Security Number
  • Email address
  • Contact Info
  • Drivers License number
  • Two Personal References

Most lenders will allow you to apply online and even sign your promissory note electronically. You may also apply for a Stafford Loan through your schoolís financial aid office.


Federal Stafford Loans do not have any credit requirements for a direct, subsidized or unsubsidized loan. Students that are still living at home as well as students no longer receiving support are eligible for direct loans and both undergraduate and graduate students are eligible to receive funds for college. The only restriction is that subsidized loans can only be obtained if there is a demonstrated financial need.

Many universities, junior colleges and vocational/technical schools participate, so there is little chance of enrolling in a school that does not accept Stafford Loans, though some may require you to apply through the financial aid office verses directly with a lender.

While lenders do not check credit for Federal Stafford Loans, defaulting on a loan will be reported on your credit as a bad account. Your payments will not be reported as a good account, however, so taking out a student loan is not an easy way to fix bad credit.

Stafford Loans do not require payment while an individual is in school and allow up to six months post graduation to begin making payments. Interest does accrue from the date the loan is taken out; however, payment is not required until graduation. Keep these things in mind when deciding how much money to borrow.

Federal Stafford Loans offer all individuals an opportunity to create a better future for themselves, regardless of the mistakes that have been made in the past. If you want to go to college, this may be the only way to do it if you have bad credit.

Thoroughly completing the FAFSA is the first step in obtaining the funds you need in order to attend college and have the best chance at a bright financial future.

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