Private College Loan and Bad Credit History

Private college loan is available to United States students and residents attending colleges or schools n the USA or foreign students having United States citizen co-signer. US citizens wanting to avail of a private college loan, also known as private student loan, should have a co-singer. While for those international or foreign students, private student loans programs are also recommended.

Application together with a legitimate co-signer will help in improving your chances of having the private college loan approved. On the other hand, if you are to apply for private student loan without any approved co-signer, the following is the criteria involved.

The student must have 1 to 2 years of really good credit report.

He must also be a United States citizen before he can avail of a private college loan. Or at least the student must be a permanent resident for about two years.

The student must also be employed full-time at least 2 years.

If you are a student needing of any one of the available private loans, and you are able to fulfill all this requirements, then you are eligible for such loans. Otherwise, you must have a co-signer which can be your parents, relative, employer and friend. Your co-signer should be the one to meet the three criteria above. So, if your private loan application was not approved without having a co-singer, then try re-applying with a co-signer as this will help in increasing your chances for a loan.