Education is one of the best investments an individual can make for their future. Too often, however, the cost of education can be a determent, especially when students are having difficulties securing the financing. Unsecured student loans can make it possible for students to pay for college.
Unsecured student loans are when a student has bad credit, no credit or no collateral in order to get additional funding for school. Applying for an unsecured student loan at a private institution with help from a financial aid officer in this free video on student loans.
- Available without collateral
- Competitive interest rates
- Quick, free online application
- Minimum loan amount of up to $10,000
The borrower will be judged based on the five (5) C’s of credit — character, capacity, capital, collateral, and conditions – these are all criteria used to assess a borrower’s creditworthiness. Character, capacity, capital, and collateral refer to the borrower’s willingness and ability to repay the debt. Conditions include the borrower’s situation as well as general economic factors.
Just like other student loan programs, the purpose of an unsecured student loan is to provide college bound learners with funds for college so that they can pursue their career goals without any problem. These student loans have flexible eligibility requirements and other terms and conditions. Ask the financial aid office at your college or career school for assistance in choosing a private lender.