How Best to Qualify for a
Private Student Loan

You can improve your chances of receiving money you need for college and reduce your costs of borrowing with lower rates and fees by applying with a qualified cosigner such as your parent or another.

Most students will add cosigners to their private student loan application. Unlike other federal student loans and grants, you won't be turned down because your cosigner has too much money.

When you apply online, you can take advantage of our "Application Save" feature. You can come back anytime to complete your application, add cosigner information, and then submit your application.

If you choose not to apply with a co-signer, you must be the following credit guidelines in order to be approved: see below.

You Need to Meet the Following Credit Qualifications

  • If you'd like to apply for a private student loan without a qualified cosigner, you will need to meet the following requirements:

    • employment history of at least two years
    • proof of current income
    • at least 21 months of credit experience and a satisfactory credit history
    • resided at your current and immediately preceding addresses for a total of at least 12 months,
    • U.S. citizen or permanent resident and have resided in the U.S. for the previous two years

Parents Can Help

Parents can help students build a strong credit history by co-signing their SayStudent Private Student Loan application. After meeting certain requirements in 48 months, co-signers can be released from the loan agreement

Steps to Getting the Money You Need

  1. Start entering your funding request by applying online

    Enter what information you know without submitting. Make note of any additional information that you need to gather.

    Save the application.
    You can return anytime to finish the application.

  2. Since many first-time students will not meet the credit qualifications of income, employment and credit history, they will need a co-signer such as their parents or another to co-sign for the loan.

    The co-signer can retrieve your saved application and enter the co-signer's information.

  3. Once your application is completed, you can submit it for processing. You will receive a preliminary approval instantly.

  4. Once preliminarily approved, you will receive loan documents via online or your email address. You need to print, sign, and fax back the documents to the number provided.

  5. Upon receipt of your completed and signed loan documents, your funds will be sent directly to you in as little as 5 business days.

SayStudent Loans
Financing a Better Future