6 Best Student Loans Without a Co-Signer
There are private lenders that don't require a co-signer — but explore them only after you've exhausted federal financial aid.
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Private student loans are credit-based, often requiring a credit score and income that many students don't have. Applying with a co-signer can improve your odds of approval and chances of being offered a lower interest rate.
If you don't have someone to co-sign your loan, you have options, but you'll likely pay a higher interest rate.
But only explore private student loans without a co-signer after you've exhausted federal aid. Federal financial aid includes money you don't have to pay back — like funding from grants and work-study programs. But it also includes federal student loans that often come with lower interest rates and more repayment options if you happen to struggle to afford your student loan payment down the road.
Review our picks and instructions for how to shop for a student loan without a co-signer.
6 student loans that don't require a co-signer:
Federal Subsidized/Unsubsidized Loan
Ascent Private Student Loan
Funding U Private Student Loan
A.M. Private Student Loan
MPOWER Private Student Loan
Edly Income Share Agreement
Best Student Loans Without a Co-Signer
Lender | NerdWallet Rating | Min. credit score | Fixed APR | Variable APR | Learn more |
|---|---|---|---|---|---|
5.0 /5 | None | 5.50-7.05% | N/A | ||
4.5 /5 | None | 6.99-12.99% | N/A | Check rateon Funding U's website on Funding U's website | |
5.0 /5 | Low-Mid 600s | 13.05-15.04% | 13.27-15.18% | Check rateon Ascent's website on Ascent's website |
Our pick for
All student loan borrowers as their first option
Federal loans are preferable to private ones because they're eligible for income-driven repayment and loan forgiveness.
Federal Subsidized/Unsubsidized Loan
None
5.50-7.05%
N/A
Federal direct loans offer generous repayment flexibility and among the lowest fixed interest rates you’ll find.
- More flexible repayment options for struggling borrowers than other lenders.
- Subsidized loans do not collect interest while in school or during deferment.
- Lower interest rates than many private lenders.
- You pay an origination fee.
- No credit check or minimum income is needed to borrow.
- Loan amounts for undergraduates: $5,500 year one, $6,500 year two, $7,500 year three and thereafter, up to a total of $31,000
- Independent students and graduate students have higher loan limits.
- Undergraduate interest rate fixed at 3.73%, while grad students get higher 5.28% rate
Our pick for
Students with a strong GPA
These loans require borrowers have and maintain a certain GPA to qualify.
Funding U Private Student Loan
None
6.99-12.99%
N/A
- You don't need a co-signer or credit history to get a loan.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- Loans aren't available in 14 states.
- Payment required while in school and during the grace period.
- Typical credit score of approved borrowers: 650.
- Minimum income: No minimum, but borrowers must demonstrate they can pay $20 per month toward their loan.
- Loan amounts: $3,001 up to $10,000.
A.M. Money Private Student Loan
None
7.53-8.85%
N/A
Best for students who have a strong GPA and attend one of the schools A.M. Money works with. It is affiliated with Illinois, but lends to schools all over the country.
- GPA is used to determine eligibility instead of credit or a co-signer.
- Offers a hard-to-find, temporary income-based repayment option for up to 36 months.
- All borrowers get the same fixed rate, benchmarked to the federal PLUS loan rates.
- Works with a limited list of schools.
- Charges an origination fee.
- Does not allow for bi-weekly payments via autopay.
- Typical credit score of approved borrowers: Credit and a co-signer are not required. Approval is based on GPA.
- Minimum income: No minimum. Approval is based on GPA.
- Loan amounts: $2,001 up to the full cost of attendance, maximum $50,000
Our pick for
Upperclassmen with no credit, income or co-signer
Future income-based: You'll be evaluated based on your future earning potential, rather than your current income or credit.
Ascent Non-Cosigned Student Loan
Low-Mid 600s
13.05-15.04%
13.27-15.18%
- Among the best for payment flexibility.
- Grace period of 9 months is longer than most lenders.
- International students are not eligible.
- Freshmen, sophomores and those enrolled less than half-time are not eligible for future-income based loan.
- Typical credit score of approved borrowers: Did not disclose.
- Minimum income: $24,000 per year for credit-based loan. No minimum for future-income based loan.
- Loan amounts: $2,001 to $200,000 per year with an aggregate loan limit of $200,000 for credit-based loan. $2,001 to $20,000 per year for future-income based loan.
Our pick for
International students
You must be from one of the 180 countries MPOWER works with. DACA students do not need a Social Security number.
MPOWER Private Student Loan
None
13.74-15.01%
N/A
Best for international students without co-signers and DACA students. You’ll be evaluated based on earning potential and positive payment history on your credit report, though not on your score.
- Offers a hard-to-find option: non-co-signed student loans for international and DACA students.
- Borrowers are assigned a dedicated student loan advisor.
- Borrowers can request forbearance of up to 24 months, which is longer than many lenders offer.
- Payment required while in school and during the grace period.
- Offers only one repayment term: 10 years.
- MPOWER considers future income potential but does not factor in credit scores.
- Loan amounts: Minimum $2,001. Maximum loan is $100,000, limited to $25,000 per academic period.
Our pick for
Income share agreements
Edly Non-Cosigner Student Loan
Varies
N/A
9.40-23.00%
Stride Funding offers income share agreements to students who are at least college juniors and typically major in health care and STEM fields.
- No credit history required.
- Available to students without a co-signer.
- Borrowers have to repay 2.25X the borrowed amount if they want to pay off the loan early.
- Low income forbearance is not automatic and interest accrues.
- Not available to borrowers in Colorado, Iowa, Maine, Vermont and West Virginia.
How to shop for a student loan without a co-signer
Take out federal student loans first. Fill out the Free Application for Federal Student Aid, or FAFSA, to get access grants and federal loans. Federal loans offer lower interest rates and come with income-driven repayment plans and forgiveness programs.
Build credit before you apply for a private student loan. While undergrads generally don’t have the credit history required to get a loan in their own names, graduate students over age 21 might. You’ll have the best shot at a private loan with competitive interest rates if your credit score is 690 or above. Strengthen it before applying for a loan by fixing errors on your credit report, paying your bills on time and using as little of your credit limit as possible.
Compare loan features. When shopping for a private loan without a co-signer, compare offers to get the lowest interest rate you qualify for. Note whether the lender will postpone payments in case you have difficulty affording them, and for how long. Find out if there are origination, prepayment or late fees, and how easily you can reach the lender by phone, email or live chat if you encounter a billing or customer service issue.
Opt for a fixed interest rate. Given the choice, a fixed interest rate is a safer bet than a variable interest rate. Fixed rates don't increase over time.
Keep an eye on the bottom line. Use a student loan calculator to see what kind of payment you’ll have once repayment begins.
Consider refinancing in the future. Once you’ve graduate and have had time to build your credit profile, you may be able to refinance private student loans to an even lower interest rate. But again, you'll generally need a solid income, a credit score of 690 or higher and a history of on-time debt payments.
Student loans that don't require a co-signer
Lender | Type of loan | Available to |
|---|---|---|
Federal direct student loan | Requires no cosigner or credit history | Undergraduate and graduate students at eligible schools |
Ascent | Based on academic outcomes (like GPA) | Juniors and seniors at eligible schools |
Funding U | Based on academic outcomes (like GPA) | Undergraduates at eligible schools |
A.M. Money | Based on academic outcomes (like GPA) | Undergraduate or graduate students at a limited list of schools |
MPOWER | Based on future earnings | Undergraduate or graduate international students at eligible schools |
Prodigy Finance | Based on future earnings | International graduate students at eligible schools |
Stride | Income share agreement | Borrowers at eligible schools |
Avenify | Income share agreement | Nursing students nearing graduation |
STUDENT LOAN RATINGS METHODOLOGY
Our survey of more than 29 banks, credit unions and online lenders offering student loans and student loan refinancing includes the top 10 lenders by market share and top 10 lenders by online search volume, as well as lenders that serve specialty or nontraditional markets.
We consider 40 features and data points for each financial institution. Depending on the category, these include the availability of biweekly payments through autopay, minimum credit score and income requirement disclosures, availability to borrowers in all states, extended grace periods and in-house customer service.
The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.
Read more about our ratings methodologies for student loans and our editorial guidelines.
Last updated on October 20, 2023
NerdWallet's Best Student Loans Without a Co-Signer
- Federal Subsidized/Unsubsidized Loan: Best for All student loan borrowers as their first option
- Funding U Private Student Loan: Best for Students with a strong GPA
- Ascent Non-Cosigned Student Loan: Best for Upperclassmen with no credit, income or co-signer
- MPOWER Private Student Loan: Best for International students
- Edly Non-Cosigner Student Loan: Best for Income share agreements
- A.M. Money Private Student Loan: Best for Students with a strong GPA
Frequently asked questions
- What student loans can you get without a co-signer?
You can receive federal student loans without a co-signer. If you’ve exhausted your federal aid and need to turn to a private loan, a few lenders do offer funding to students without co-signers.
- How do you get a student loan without a co-signer?
Complete the FAFSA to receive federal student loans, which don’t require a co-signer. Private lenders that don’t need a co-signer may evaluate you based on your credit and future earning potential.
- Do you need a co-signer to get a Sallie Mae loan?
Most undergraduate students will need a co-signer to qualify for a private student loan from Sallie Mae. The lender reports that 90% of its borrowers use a co-signer.
- What is the minimum credit score for a private loan?
You’ll likely need a credit score of at least 690 to get a private loan. But you’ll also need to meet a lender’s other financial requirements, such as having steady income, to qualify.
