The Ins and Outs of Personal Student Loans

By Ricky Martinez

Full-time students have a lot they need to worry about including school work, attending classes, doing projects, studying, paying bills and tuition, purchasing books and other expenses. With all these things on your plate it's got to be hard to hold down a full-time job that could help you pay for this student life you find yourself in. Students all over the country are finding themselves struggling financially to make ends meet and when this happens personal student loans can really come in handy.

Personal student loans are an option for you to help carry you through the slim times as a student. One of the most difficult hurdles for you as a student being approved for a personal student loan is that you may not have the credit history that is necessary to actually qualify. This can be discouraging but do not despair because there are ways for you to qualify for a personal student loan.

Your parent or guardian can be a big help to you if they will cosign on the loan for you, thus ensuring that that loan will be paid back. There are circumstances when your parents won't be able to help you out, say, if they've been hit with financial difficulties themselves in recent years. There are other options you can look into including personal student loans that are available for people with low credit scores or no credit at all.

The government can be your lender in a personal student loan and it's good to look into this option. The one stipulation to this type of loan is that they are generally only available for college tuition and/or books, but the amount you may be able to qualify might just be the boost you need to be able to cover your other expenses on your own. Also consider applying for a credit card to bridge the gap until you get approved for the personal student loan.

Using your credit card on occasion and making sure that you pay the balance when it's due can actually help you build a good credit history in short period of time. But what if you find yourself in a situation where you absolutely need the money now? Well, then you can apply for a payday loan.

Being able to prove that you've held a job for a month or more is one of the qualifying factors for this type of loan and that may not be possible for a full-time student like yourself. The best thing for you to do is to talk to a loan officer who is qualified to help you and just see what comes of it. You may be surprised what a little foot work can do for you!

About the Author:

Rick shows college kids how to qualify for personal student loans to help with their school expenses, and shows them how to qualify for secured personal loans if student loans aren't available.