Most college students have limited or no credit history, making approval for private student loans difficult. A co-signer can help you get approved and their credit history could get you better loan rates and terms.
Being a co-signer means taking responsibility for the debt if the borrower fails to make payments. Not everyone has someone willing or able to take on that obligation.
Here's a step-by-step look at how you can get a student loan without a co-signer.
Apply for federal student loans first
Before considering a private loan, apply for a federal student loan by filling out the Free Application for Federal Student Aid (FAFSA®) form. Undergraduate federal student loans don't require a credit check and neither do direct unsubsidized loans for graduate school.
Federal loans tend to offer lower interest rates, especially compared to private loans without a co-signer. They also provide financial protections, such as income-driven repayment plans, deferments for economic hardship and loan forgiveness.
Explore private student loans without a co-signer
If you've maxed out on federal student aid — and explored scholarships, grants and financial aid — there are private lenders who offer student loans without a co-signer. Some require that borrowers be within two years of graduation from an undergraduate or graduate program.
Ascent and Funding U both consider borrowers who don't have established credit by weighing other factors, including the applicant's school, program, graduation date, cost of attendance, major, GPA and academic progress.
Ascent Funding
APR
Fixed rates from 2.69% to 15.26% APR* with autopay discount (Undergraduate New Loan). Other rates and loan types are available. Visit Ascent's website for full details.
Loan amounts
Up to $200,000
Loan terms
Range from 5 to 20 years
Loan types
Variable and fixed
Borrower protections
Deferment and forbearance options available
Co-signer required?
Co-signer requirements vary by applicant; Co-signer is required for DACA recipients and non-U.S. citizens or permanent residents
Offer student loan refinancing?
No
Terms apply.
Disclosure: *Ascent Funding, LLC products are made available through Bank of Lake Mills or DR Bank, each Member FDIC. Subject to credit approval. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations, terms and conditions may apply for Ascent's Terms and Conditions please visit AscentFunding.com/Ts&Cs. Annual Percentage Rates (APRs) displayed above are effective as of 3/1/2026 and reflect an Automatic Payment Discount (ACH). The ACH discount consists of 0.25% on credit-based college student loans submitted prior to 6/1/2025, a 0.5% discount for on credit-based college student loans submitted on or after 6/1/2025 and a 1.00% discount on outcomes-based loans when you enroll in automatic payments. Loans subject to individual approval, restrictions and conditions apply. Loan features and information advertised are intended for college student loans and are subject to change at any time. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower's credit history, verifiable cost of attendance as certified by an eligible school and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. Variable rates may increase after consummation.1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/BorrowerBenefits. Ascent applicants and borrowers that agree to the AscentUP Terms of Service and Privacy Policy, as well as students associated with an Ascent parent loan application, have access to the AscentUP platform.
Funding U
Eligible borrowers
Eligible undergraduate borrowers
Loan amounts
Up to $20,000 per school year
Loan terms
5 or 10 years
Loan types
Fixed
Borrower protections
Forbearance options available
Co-signer required?
No
Terms apply.
Edly stands out for its income-based repayment terms, which most private lenders don't offer
Edly Student Loans
Eligible borrowers
Qualifying juniors, seniors or graduate students
Loan amounts
Up to $20,000 total lifetime borrowing limit
Loan terms
84 months, or 7 years
Loan types
Variable
Borrower protections
Deferment and forbearance options available; all loans are on income-based repayment
Co-signer required?
No
Terms apply.
MPOWER approves non-cosigned financing from international students, DACA recipients, asylum-seekers and refugees, among others, while U.S. students going abroad should consider Prodigy Finance, which offers loans without a co-signer for programs at more than 400 universities in 18 countries.
MPOWER Financing®
Eligible borrowers
U.S. citizens, international students, DACA recipients, refugees and asylum-seekers who are undergraduate or graduate students
Loan amounts
Up to $100,000
Loan terms
10 years
Loan types
Fixed
Fees
6.5% origination fee and fee for late or invalid payments
Borrower protections
Deferment not available
Co-signer required?
No
Terms apply.
Prodigy Finance
Eligible borrowers
Students studying abroad for a master's degree
Loan amounts
Dependent on student
Loan terms
Range from 7 to 20 years
Loan types
Variable
Borrower protections
Forbearance options available
Co-signer required?
No
Terms apply.
Pros and cons of a student loan without a co-signer
There are benefits and drawbacks to taking out a student loan without a co-signer.
Pros
- On-time payments can build a positive credit history
- Not risking someone else's credit
Cons
- More difficult to get approval
- Higher interest rates
- May not be approved for the full amount requested
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